Eastman Says Dept of Energy Reinstated $375M Award, Posts Higher 3Q Profit

Dow Jones10-30

Eastman Chemical said the Department of Energy reinstated a $375 million award to advance its waste and recycling investment plan.

The investment will contribute towards a plan that aims to debottleneck Eastman's methanolysis facility in Tennessee, repurpose underutilized recycling assets and prepare for a second U.S. methanolysis facility.

The total reinstated investment figure excludes about $35 million Eastman has received related to investment in design and engineering under a previous agreement.

The award comes as the specialty materials and chemical manufacturing company in the third quarter posted a profit of $252 million, or $2.19 a share, compared with $69 million, or 60 cents a share, last year.

On an adjusted basis, per-share earnings were $1.84, compared with $1.14 the prior year. Analysts polled by FactSet expected $1.93.

Revenue rose to $2.39 billion, compared with $2.2 billion a year ago. Wall Street analysts expected $2.41 billion.

Chief Executive Mark Costa said input costs continued to rise and Eastman implemented higher sequential price increases in its specialties in the third quarter. The company is on track to implement about $500 million of selling price increases in 2026 compared with its expectations before the Middle East conflict, he said.

Costa added that its business was impacted by seasonal declines in some key end markets as well as soft demand in automotive and consumer durables.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2679232741?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-10-30 05:28","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2679232741","market":"nz","top_or_hot":-1,"title":"Eastman Says Dept of Energy Reinstated $375M Award, Posts Higher 3Q Profit","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Eastman Chemical said the Department of Energy reinstated a $375 million award to advance its waste and recycling investment plan. \n</p>\n<p>\n  The investment will contribute towards a plan that aims to debottleneck Eastman's methanolysis facility in Tennessee, repurpose underutilized recycling assets and prepare for a second U.S. methanolysis facility. \n</p>\n<p>\n  The total reinstated investment figure excludes about $35 million Eastman has received related to investment in design and engineering under a previous agreement. \n</p>\n<p>\n  The award comes as the specialty materials and chemical manufacturing company in the third quarter posted a profit of $252 million, or $2.19 a share, compared with $69 million, or 60 cents a share, last year. \n</p>\n<p>\n  On an adjusted basis, per-share earnings were $1.84, compared with $1.14 the prior year. Analysts polled by FactSet expected $1.93. \n</p>\n<p>\n  Revenue rose to $2.39 billion, compared with $2.2 billion a year ago. Wall Street analysts expected $2.41 billion. \n</p>\n<p>\n  Chief Executive Mark Costa said input costs continued to rise and Eastman implemented higher sequential price increases in its specialties in the third quarter. The company is on track to implement about $500 million of selling price increases in 2026 compared with its expectations before the Middle East conflict, he said. \n</p>\n<p>\n  Costa added that its business was impacted by seasonal declines in some key end markets as well as soft demand in automotive and consumer durables. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Eastman Says Dept of Energy Reinstated $375M Award, Posts Higher 3Q Profit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEastman Says Dept of Energy Reinstated $375M Award, Posts Higher 3Q Profit\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-10-30 05:28</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Eastman Chemical said the Department of Energy reinstated a $375 million award to advance its waste and recycling investment plan. \n</p>\n<p>\n  The investment will contribute towards a plan that aims to debottleneck Eastman's methanolysis facility in Tennessee, repurpose underutilized recycling assets and prepare for a second U.S. methanolysis facility. \n</p>\n<p>\n  The total reinstated investment figure excludes about $35 million Eastman has received related to investment in design and engineering under a previous agreement. \n</p>\n<p>\n  The award comes as the specialty materials and chemical manufacturing company in the third quarter posted a profit of $252 million, or $2.19 a share, compared with $69 million, or 60 cents a share, last year. \n</p>\n<p>\n  On an adjusted basis, per-share earnings were $1.84, compared with $1.14 the prior year. Analysts polled by FactSet expected $1.93. \n</p>\n<p>\n  Revenue rose to $2.39 billion, compared with $2.2 billion a year ago. Wall Street analysts expected $2.41 billion. \n</p>\n<p>\n  Chief Executive Mark Costa said input costs continued to rise and Eastman implemented higher sequential price increases in its specialties in the third quarter. The company is on track to implement about $500 million of selling price increases in 2026 compared with its expectations before the Middle East conflict, he said. \n</p>\n<p>\n  Costa added that its business was impacted by seasonal declines in some key end markets as well as soft demand in automotive and consumer durables. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<pre style=\"white-space: pre\">\n \n</pre>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PSCM","symbol_name":"Invesco S&P SmallCap Materials ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2679232741","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2679232741","pubTimestamp":1793309280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Eastman Chemical said the Department of Energy reinstated a $375 million award to advance its waste and recycling investment plan.The investment will contribute towards a plan that aims to debottlenec","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PSCM":"Invesco S&P SmallCap Materials ETF","BK4109":"特种化学制品","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4098":"多种化学制品","EMN":"伊士曼化工"},"translate_title":"伊士曼表示能源部恢复了 3.75 亿美元的奖励，第三季度利润更高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PSCM":0.6,"EMN":0.9},"content_text":"Eastman Chemical said the Department of Energy reinstated a $375 million award to advance its waste and recycling investment plan. \n\n\n  The investment will contribute towards a plan that aims to debottleneck Eastman's methanolysis facility in Tennessee, repurpose underutilized recycling assets and prepare for a second U.S. methanolysis facility. \n\n\n  The total reinstated investment figure excludes about $35 million Eastman has received related to investment in design and engineering under a previous agreement. \n\n\n  The award comes as the specialty materials and chemical manufacturing company in the third quarter posted a profit of $252 million, or $2.19 a share, compared with $69 million, or 60 cents a share, last year. \n\n\n  On an adjusted basis, per-share earnings were $1.84, compared with $1.14 the prior year. Analysts polled by FactSet expected $1.93. \n\n\n  Revenue rose to $2.39 billion, compared with $2.2 billion a year ago. Wall Street analysts expected $2.41 billion. \n\n\n  Chief Executive Mark Costa said input costs continued to rise and Eastman implemented higher sequential price increases in its specialties in the third quarter. The company is on track to implement about $500 million of selling price increases in 2026 compared with its expectations before the Middle East conflict, he said. \n\n\n  Costa added that its business was impacted by seasonal declines in some key end markets as well as soft demand in automotive and consumer durables.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.1","shortVersion":"4.52.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2679232741","isCrawlerRequest":true}