Eastman Chemical falls on downbeat Q3 profit expectations

Eastman Chemical Co

01/08/2025 15:43

Updates

** Shares of chemical company Eastman Chemical EMN.N fall 19.3% to $58.57, on course for its lowest level since May 15, 2020

** Company forecast downbeat third-quarter profit and plans to cut inventory owing to lower demand and U.S. trade policy challenges

** Customer caution is intensifying due to a changing tariff landscape and weak underlying demand - Eastman CEO Mark Costa

** "Currently, we think Q3 could be challenged as is the case for other chemical names, although given about $75 mln to $100 mln of inventory management headwinds in 2H25, we expect improvement in 1H26" - RBC Capital Markets analyst Arun Viswanathan

** EMN expects Q3 adjusted profit to be $1.25 per share vs analysts' average estimate of $1.91 per share - data compiled by LSEG

** Including session's moves, stock down 34.5% YTD

 (Reporting by Pranav Mathur in Bengaluru)

 ((Pranav.Mathur@thomsonreuters.com;))