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EMN · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Eastman Chemical Company (EMN) stock moving?
EMN closed at $65.45 on Nov 10, about 3.7% below the $67.93 close on Oct 29, the day it reported Q3 results. Adjusted EPS of $1.84 and sales of $2.385B both missed consensus, and FY2026 adjusted EPS guidance was set at $6.00-$6.20 versus a $6.31 estimate. Sales still rose 8% on 7% higher selling prices, and Additives Functional Products was strong. Management is on track for $125M-$150M of cost savings and roughly $500M of 2026 price increases, and it reinstated a $375M DOE award for its circular recycling platform. The weak points are softer volume mix in automotive and consumer durables, higher input costs linked to the Middle East conflict, and Q3 operating cash flow of $290M versus $402M a year earlier. Analyst moves after the print were mixed: RBC raised its target to $70 (Sector Perform), Barclays raised to $74 (Equal-Weight), Citi trimmed to $75 (Buy) and JP Morgan cut to $65 (Neutral). The average target of about $71 sits roughly 8% above the last price. Trading has cooled, with volume on Nov 10 at 872K shares versus about 1.5M on most recent sessions, and the stock trades near the middle of its 30-day range of $62.87-$68.40.
News behind the analysis
- Eastman Chemical Q3 Adj. EPS $1.84 Misses $1.92 Estimate, Sales $2.385B Miss $2.419B EstimateEastman reported Q3 2026 adjusted EPS of $1.84 and sales of $2.385B, both below consensus. Sales rose 8% year over year on 7% higher selling prices.
- Eastman Chemical Sees FY2026 Adj EPS $6.00-$6.20 vs $6.31 EstEastman set its FY2026 adjusted EPS outlook at $6.00-$6.20, below the $6.31 consensus. The company said it remains on track for $125M-$150M of cost savings net of inflation.
- Eastman Reinstated On Previous DoE Award Supporting Domestic Recycled-Plastics Supply Chain; Contract Worth $375M Minus ~$35M Received Under Previous AgreementThe U.S. Department of Energy reinstated a $375M award supporting Eastman's circular recycling platform. Management expects the project to drive significant revenue growth in 2026 and 2027.
- Eastman Chemical Company Reports Q3 2026 Financial ResultsQ3 adjusted EPS was $1.84 and operating cash flow was $290M, down from $402M a year earlier. Management cited softer automotive and consumer durables demand and higher input costs tied to the Middle East conflict.
- Eastman Chemical Q3 2026 Earnings Call TranscriptBenzinga published the full transcript of Eastman's third-quarter 2026 earnings call. It covers the quarter's results and the outlook discussed with analysts.
- JP Morgan Maintains Neutral on Eastman Chemical, Lowers Price Target to $65JP Morgan kept its Neutral rating and cut its price target from $66 to $65. The target is close to the current share price.
- Barclays Maintains Equal-Weight on Eastman Chemical, Raises Price Target to $74Barclays kept its Equal-Weight rating and raised its price target from $72 to $74.
- Citigroup Maintains Buy on Eastman Chemical, Lowers Price Target to $75Citigroup kept its Buy rating and trimmed its price target from $76 to $75.
- RBC Capital Maintains Sector Perform on Eastman Chemical, Raises Price Target to $70RBC kept its Sector Perform rating and raised its price target from $65 to $70.
About Eastman Chemical Company
Eastman Chemical is a specialty materials company based in Kingsport, Tennessee. It makes plastics, additives, fibers and chemical intermediates, and it is known for molecular recycling, which breaks down hard-to-recycle plastic waste so it can be made into new material.
How it makes money
Eastman sells materials to manufacturers in packaging, cars, building and construction, consumer goods, personal care and medical products. It reports four segments: Advanced Materials (specialty plastics, window films and interlayers for car glass), Additives & Functional Products (coatings ingredients, tire additives and care chemicals), Chemical Intermediates (olefins and their derivatives, which are more commodity-like products) and Fibers (acetate tow and textiles). Total sales run at roughly $9–10 billion a year, with quarterly revenue of about $2.2–2.5 billion in 2026. The specialty segments bring in most of the profit.
What usually moves EMN
- Raw material, energy and freight costs (including disruption from the 2026 Middle East conflict)
- Demand from cars, building and consumer durables
- Price spreads in Chemical Intermediates
- Progress on molecular recycling and growth of its circular platform
- Cost-cutting programs and cash flow