Eastman Chemical Firm EMN is in
Eastman Chemical Firm EMN is increasing its manufacturing capability of the Naia cellulosic filament yarn at its Barcelona facility. It plans to extend the manufacturing capability by 30% by mid-2021 and greater than 50% by the top of 2022.
The rising significance of a sustainable and round manufacturing financial system is ensuing within the adoption of sustainable fibers. On this regard, Naia is quickly choosing up steam amongst clients.
The corporate envisions making sustainable style accessible to all and is hopeful that the dedicated group at Barcelona will make this doable. This growth may also facilitate the adoption of Naia by new manufacturers of womenswear style.
Shares of Eastman have grown 82.9% in a 12 months in contrast with the business’s rise of 59.3%. The estimated earnings progress fee for the corporate for the present 12 months is pegged at 40.8%.
Picture Supply: Zacks Funding Analysis
Within the final reported quarter, the corporate recorded earnings of $2.13 per share, rising from $2.03 within the year-ago quarter and beating the Zacks Consensus Estimate of $2.03. It raked in web gross sales of $2,409 million, gaining 8% 12 months over 12 months and beating the Zacks Consensus Estimate of $2,335.6 million.
The corporate stated that it’s seeing continued momentum within the second quarter as it’s gaining from innovation, robust market restoration and decrease working prices from its operations transformation program. It expects adjusted earnings per share between $8.25 and $8.75 for 2021. It additionally anticipates free money move to achieve $1.1 billion for the 12 months.
Eastman Chemical Firm Value and Consensus
Eastman Chemical Firm price-consensus-chart | Eastman Chemical Firm Quote
Zacks Rank & Different Shares to Think about
At present, Eastman carries a Zacks Rank #2 (Purchase).
Another top-ranked shares within the primary supplies area are Orion Engineered Carbons S.A OEC, Tronox Holdings PLC TROX and Univar Options Inc. UNVR, every sporting a Zacks Rank #1 (Sturdy Purchase). You may see the whole listing of right this moment’s Zacks #1 Rank shares right here.
Orion has a projected earnings progress fee of 61.5% for the present 12 months. The corporate’s shares have grown 83.7% in a 12 months.
Tronox has a projected earnings progress fee of 242.9% for the present 12 months. The corporate’s shares have seen a surge of 235% in a 12 months.
Univar has a projected earnings progress fee of 35.2% for the present 12 months. The corporate’s shares have jumped 71.1% in a 12 months.
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Eastman Chemical Firm (EMN): Free Inventory Evaluation Report
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Tronox Holdings PLC (TROX): Free Inventory Evaluation Report
Univar Options Inc. (UNVR): Free Inventory Evaluation Report
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Zacks Funding Analysis
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.