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Eastman Chemical Co EMN Stock Quote

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Eastman Shares Plunge on Guidance Cut Amid Broader Market Selloff; Shares Materially Undervalued

Analyst Note

| Seth Goldstein, CFA |

On Sept. 13, Eastman management lowered its third-quarter adjusted earnings per share guidance due to lower volumes and continued cost inflation. Having updated our model to reflect weaker near-term demand, we trim our Eastman fair value estimate to $135 per share from $140. Our narrow moat rating is unchanged.

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Company Profile EMN

Business Description

Established in 1920 to produce chemicals for Eastman Kodak, Eastman Chemical has grown into a global specialty chemicals with manufacturing sites around the world. The company generates the majority of its sales outside of the United States, with a strong presence in Asian markets. During the past several years, Eastman has sold noncore businesses, choosing to focus on higher-margin specialty product offerings.

200 South Wilcox Drive
Kingsport, TN, 37662
T +1 423 229-2000
Industry Specialty Chemicals
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 14,000

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