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Eastman Chemical

Eastman Chemical (EMN) Q2 2025 Earnings

Reported Jul 31, 2025 at 4:19 PM ET · SEC Source

Q2 25 EPS

$1.60

MISS 8.71%

Est. $1.75

Q2 25 Revenue

$2.29B

MISS 0.75%

Est. $2.30B

vs S&P Since Q2 25

-9.2%

TRAILING MARKET

EMN +10.6% vs S&P +19.8%

Market Reaction

Did EMN Beat Earnings? Q2 2025 Results

Eastman Chemical delivered a disappointing second quarter, missing on both the top and bottom lines as persistent macroeconomic headwinds continued to weigh on the specialty chemicals giant. Adjusted EPS came in at $1.60, falling short of the $1.75 c… Read more Eastman Chemical delivered a disappointing second quarter, missing on both the top and bottom lines as persistent macroeconomic headwinds continued to weigh on the specialty chemicals giant. Adjusted EPS came in at $1.60, falling short of the $1.75 consensus estimate by 8.71%, while revenue slipped 3.2% year-over-year to $2.29 billion, just below the $2.30 billion analysts had expected. The single most consequential drag beyond soft end-market demand was an unplanned outage in the Chemical Intermediates segment, which alone cost roughly $20 million in EBIT and helped swing that unit to a $30 million operating loss for the quarter. S&P Global Ratings responded by revising its outlook on the company to negative, citing tariff exposure and weakening product demand. Looking ahead, management guided Q3 adjusted EPS to approximately $1.25, flagging a planned inventory reduction of more than $200 million that will create a $75 to $100 million asset utilization headwind in the second half, though full-year operating cash flow is still expected to reach approximately $1 billion, offering some reassurance for investors focused on consistent dividend income.

Key Takeaways

  • • Additives & Functional Products driven by mix improvement and leverage to stable end markets including care chemicals and heat transfer fluid project fulfillments
  • • Advanced Materials impacted by weak primary demand in building & construction and automotive OEM production, partially offset by specialty plastics growth
  • • Chemical Intermediates impacted by approximately $20 million unplanned outage and unfavorable commodity market fundamentals
  • • Fibers revenue declined 17% due to acetate tow customer inventory destocking, industry capacity share adjustments, and lower textiles sales into China due to global trade dispute
  • • Commercial excellence keeping price-cost in specialties stable and defending market share
24/7 Wall St

EMN YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

EMN Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26
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EMN Revenue by Geography

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“The second quarter presented significant challenges, and I am proud of the way our team fought to deliver resilient earnings in our specialty businesses. As expected, the macroeconomic backdrop showed little signs of seasonal improvements across our end markets. In this context, we worked hard to mitigate tariff impacts on our global business through supply chain and commercial excellence. The second quarter also had an approximately $20 million impact in Chemical Intermediates due to an unplanned outage, compounding what continues to be tougher conditions for commodity markets. The Kingsport methanolysis facility continues to operate well, and we remain on track to produce greater than 2.5 times more recycled content than 2024. Moving forward, we will continue to focus on cash generation with a disciplined approach to managing our cost structure, reducing working capital, and allocating capital.”

— Mark Costa, Q2 2025 Earnings Press Release

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