We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eastman Chemical Completes IATF Transition at Saflex Sites
Read MoreHide Full Article
Eastman Chemical Company (EMN - Free Report) , manufacturer of Saflex product glazing for automotive applications, has completed the transition at all Saflex manufacturing sites to International Automotive Task Force (IATF) 16949:2016 from the earlier quality management system, ISO/TS 16949.
The completion of IATF certification testifies Eastman Chemical’s commitment to customers supplying to the automotive industry by focusing on better operations and supply to customers as well as strengthening quality management systems.
The IATF is an international standard for quality management systems (QMS) and is widely used by the automotive industry. In conjunction with ISO, IATF establishes a QMS that drives continual improvement. IATF has many additional requirements from the general ISO 9001 standard, with an emphasis in product safety, defect prevention, risk evaluation and the reduction of waste and variation in the supply chain.
In a year’s time, shares of Eastman Chemical have outperformed the industry it belongs to. The stock has lost around 11.7% compared with the industry’s fall of 19.9%.
During the third-quarter earnings call, Eastman Chemical noted that strong volume gains in the specialty businesses, disciplined cost management and a lower effective tax rate have helped it achieve year-over-year adjusted earnings per share growth of 13% during the first nine months of 2018. The company continues to expect year-over-year adjusted earnings per share growth of 10-14% for 2018. The company also expects to generate roughly $1.1 billion of free cash flow in 2018.
The company is focused on productivity and cost-cutting actions, which are helping it offset raw material cost inflation and other cost headwinds. For 2018, Eastman Chemical expects to deliver $100 million of savings under its cost-reduction program.
Eastman Chemical has been seeing a rise in raw materials costs, mostly in its chemical intermediates business. Raw materials cost headwind is expected to persist through the remainder of 2018. Nevertheless, the company’s productivity and price hike actions are likely to help it offset the input cost pressure.
CF Industries has an expected long-term earnings growth rate of 6%. The company’s shares have gained 21.7.9% in the past year.
Mosaic has an expected long-term earnings growth rate of 7%. The stock has rallied 48.4% in a year’s time.
Methanex has an expected long-term earnings growth rate of 15%. Its shares have gained 8.5% in the past year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
Image: Bigstock
Eastman Chemical Completes IATF Transition at Saflex Sites
Eastman Chemical Company (EMN - Free Report) , manufacturer of Saflex product glazing for automotive applications, has completed the transition at all Saflex manufacturing sites to International Automotive Task Force (IATF) 16949:2016 from the earlier quality management system, ISO/TS 16949.
The completion of IATF certification testifies Eastman Chemical’s commitment to customers supplying to the automotive industry by focusing on better operations and supply to customers as well as strengthening quality management systems.
The IATF is an international standard for quality management systems (QMS) and is widely used by the automotive industry. In conjunction with ISO, IATF establishes a QMS that drives continual improvement. IATF has many additional requirements from the general ISO 9001 standard, with an emphasis in product safety, defect prevention, risk evaluation and the reduction of waste and variation in the supply chain.
In a year’s time, shares of Eastman Chemical have outperformed the industry it belongs to. The stock has lost around 11.7% compared with the industry’s fall of 19.9%.
During the third-quarter earnings call, Eastman Chemical noted that strong volume gains in the specialty businesses, disciplined cost management and a lower effective tax rate have helped it achieve year-over-year adjusted earnings per share growth of 13% during the first nine months of 2018. The company continues to expect year-over-year adjusted earnings per share growth of 10-14% for 2018. The company also expects to generate roughly $1.1 billion of free cash flow in 2018.
The company is focused on productivity and cost-cutting actions, which are helping it offset raw material cost inflation and other cost headwinds. For 2018, Eastman Chemical expects to deliver $100 million of savings under its cost-reduction program.
Eastman Chemical has been seeing a rise in raw materials costs, mostly in its chemical intermediates business. Raw materials cost headwind is expected to persist through the remainder of 2018. Nevertheless, the company’s productivity and price hike actions are likely to help it offset the input cost pressure.
Eastman Chemical Company Price and Consensus
Eastman Chemical Company Price and Consensus | Eastman Chemical Company Quote
Zacks Rank & Stocks to Consider
Eastman Chemical currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the basic materials space are CF Industries Holdings, Inc. (CF - Free Report) , The Mosaic Company (MOS - Free Report) and Methanex Corporation (MEOH - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CF Industries has an expected long-term earnings growth rate of 6%. The company’s shares have gained 21.7.9% in the past year.
Mosaic has an expected long-term earnings growth rate of 7%. The stock has rallied 48.4% in a year’s time.
Methanex has an expected long-term earnings growth rate of 15%. Its shares have gained 8.5% in the past year.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
See This Ticker Free >>