Eastman Chemical Company ( EMN Quick Quote EMN - Free Report) has collaborated with Amorepacific, a global beauty company, to introduce sustainable packaging solutions using its molecular recycling technologies. Eastman’s Cristal Renew co-polyester, with certified recycled content will be used by Laneige as early as December 2021. Laneige will be the first Amorepacific brand to utilize packaging made from Cristal Renew. Laniege’s Water Sleeping Mask, featuring Cristal Renew, will be available at cosmetics retailer Sephora in the United States and Canada. The Water Sleeping Mask has been popular among customers since 2002 and features technological advances in skincare derived from molecular recycling technology. Cristal Renew is vital to create recycled-content packaging that does justice to Amorepacific’s signature, globally renowned beauty aesthetic by providing the skincare leader with superior products and customer experience. Eastman’s molecular recycling technologies break down hard-to-recycle plastic waste into building blocks used to create new materials. The materials are similar to traditional materials in terms of clarity, luster and mechanical properties. The technology makes it possible to divert plastic waste from landfills, incinerators and the environment, lowering the greenhouse gas emissions by 20-50% by reducing the dependency on fossil fuels. Eastman is enthusiastic about being selected as a partner in Amorepacific’s sustainability journey and is keen to bring innovations to market before the end of the year. Amorepacific noted that Eastman’s innovative molecular recycling technologies will enable it to realize the commitments laid out in its ‘2030 A MORE Beautiful Promise’. Shares of Eastman have gained 4.6% in a year compared with the industry’s rise of 13%. The estimated earnings growth rate for the company for the current year is pegged at 46%. Image Source: Zacks Investment Research
Eastman, on its third-quarter earnings call, said that it is seeing sustained logistics challenges, supply-chain issues and higher raw material and energy costs as it enters the fourth quarter. It is implementing price hike actions across its specialty product lines to offset these higher costs.
It expects adjusted earnings per share of $8.80-$9.00 for 2021. It also anticipates free cash flow to approach $1.1 billion for the year. Zacks Rank & Key Picks
Eastman currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks from the basic materials space include AdvanSix Inc. ( ASIX Quick Quote ASIX - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Univar Solutions Inc. ( UNVR Quick Quote UNVR - Free Report) and Celanese Corporation ( CE Quick Quote CE - Free Report) , carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here AdvanSix has an expected earnings growth rate of 197% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 14.1% upward over the past 60 days. AdvanSix beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 47%, on average. ASIX’s shares have also surged 134.9% over a year. Univar has an expected earnings growth rate of 55.2% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 9% upward over the past 60 days. Univar beat the Zacks Consensus Estimate for earnings in the four trailing quarters, with an earnings surprise of 24.1%, on average. UNVR’s shares have rallied 41.4% over a year. Celanese has an expected earnings growth rate of 139.7% for the current year. The Zacks Consensus Estimate for its current-year earnings has been revised 9.1% upward over the past 60 days. Celanese beat the Zacks Consensus Estimate for earnings in the four trailing quarters and pulled off an earnings surprise of 12.7%, on average. Shares of CE have gained around 14.8% over a year.