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Eastman Chemical (EMN) Set to Hike Prices of Plasticizers
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Eastman Chemical Company (EMN - Free Report) is raising the prices of plasticizers effective Oct 1, or as contracts permit. Increased operating costs, especially of raw materials, have led to the hike.
In North and Latin America, the company is lifting list and off-list prices of Benzoflex 50 by 3 cents per lb. Moreover, the company is raising list and off-list prices of Benzoflex 9-88, Benzoflex 9-88 SG as well as Benzoflex TPU-405 by 5 cents per lb each.
During the second-quarter earnings call, Eastman Chemical stated that strong volume gains in the specialty businesses and disciplined cost management have helped the company achieve strong earnings growth in the first half of 2018. The company continues to expect year-over-year growth of 10-14% in adjusted earnings per share for 2018.
In a year’s time, shares of Eastman Chemical have outperformed the industry it belongs to. While the stock has gained around 12.6%, the industry saw 0.7% decline.
The company is focused on productivity and cost-cutting actions, which are helping it offset raw material cost inflation and other cost headwinds. In 2018, Eastman Chemical expects to deliver $100 million of cost savings under its cost-reduction program.
Eastman Chemical is seeing a rise in raw materials costs and the same is expected to persist in the second half of 2018. It is exposed to volatility in ethylene prices as well. Nevertheless, the company’s productivity measures and actions to raise selling prices of its products are likely to help it offset the impact of these headwinds.
Some better-ranked companies in the basic materials space are Ingevity Corporation (NGVT - Free Report) , Celanese Corporation (CE - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) .
Celanese has an expected long-term earnings growth rate of 10% and carries a Zacks Rank #1. The stock has gained 11.4% in a year.
Air Products has an expected long-term earnings growth rate of 16.2% and a Zacks Rank #2 (Buy). Shares of the company have risen 11.7% in a year’s time.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
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Eastman Chemical (EMN) Set to Hike Prices of Plasticizers
Eastman Chemical Company (EMN - Free Report) is raising the prices of plasticizers effective Oct 1, or as contracts permit. Increased operating costs, especially of raw materials, have led to the hike.
In North and Latin America, the company is lifting list and off-list prices of Benzoflex 50 by 3 cents per lb. Moreover, the company is raising list and off-list prices of Benzoflex 9-88, Benzoflex 9-88 SG as well as Benzoflex TPU-405 by 5 cents per lb each.
During the second-quarter earnings call, Eastman Chemical stated that strong volume gains in the specialty businesses and disciplined cost management have helped the company achieve strong earnings growth in the first half of 2018. The company continues to expect year-over-year growth of 10-14% in adjusted earnings per share for 2018.
In a year’s time, shares of Eastman Chemical have outperformed the industry it belongs to. While the stock has gained around 12.6%, the industry saw 0.7% decline.
The company is focused on productivity and cost-cutting actions, which are helping it offset raw material cost inflation and other cost headwinds. In 2018, Eastman Chemical expects to deliver $100 million of cost savings under its cost-reduction program.
Eastman Chemical is seeing a rise in raw materials costs and the same is expected to persist in the second half of 2018. It is exposed to volatility in ethylene prices as well. Nevertheless, the company’s productivity measures and actions to raise selling prices of its products are likely to help it offset the impact of these headwinds.
Eastman Chemical Company Price and Consensus
Eastman Chemical Company Price and Consensus | Eastman Chemical Company Quote
Zacks Rank & Stocks to Consider
Eastman Chemical is a Zacks Rank #3 (Hold) stock.
Some better-ranked companies in the basic materials space are Ingevity Corporation (NGVT - Free Report) , Celanese Corporation (CE - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) .
Ingevity has an expected long-term earnings growth rate of 12% and a Zacks Rank #1 (Strong Buy). The company has gained 73.8% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Celanese has an expected long-term earnings growth rate of 10% and carries a Zacks Rank #1. The stock has gained 11.4% in a year.
Air Products has an expected long-term earnings growth rate of 16.2% and a Zacks Rank #2 (Buy). Shares of the company have risen 11.7% in a year’s time.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>