Eastman Chemical Company (EMN) faced a disappointing third quarter, with an 11% year-over-year revenue drop to $2.2 billion, missing analyst expectations. Despite this downturn and a 41% stock value decline over the past year, the company announced a quarterly dividend increase, marking its 16th consecutive rise, while simultaneously planning to cut structural costs by over $75 million. EMN aims to navigate these challenges and forecasted a long-term revenue growth of $9.6 billion by 2028.
“Eastman Chemical · declared · quarterly cash dividend · $0.84 per share”
“Eastman Chemical · trades at · current price · $61.53”
“Eastman Chemical · has · year to date drop · 30.5%”
“Eastman Chemical · has · return over the past year · -36.6%”
“Eastman Chemical · reminded investors that earnings still rule the story · third quarter miss on revenue and profit · demand softness and management’s response”
“Eastman Chemical Company · announced · annual dividend increase · 16th straight”
“Eastman Chemical Company · raised · quarterly cash dividend · from 83 cents to 84 cents per share”
“Eastman Chemical Company · delivered · operating cash flow · $402 million”
“Eastman Chemical Company · is on track to cut · structural costs · over $75 million”
“Eastman Chemical Company · aims · additional cost reduction · $100 million in 2026”
“Eastman Chemical Company · forecasts · operating cash flow · to approach $1 billion”
“Shares of EMN · lost · value · 40%”