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Eastman's (EMN) Naia Gets Global Recycled Standard Certification
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Eastman Chemical Company (EMN - Free Report) recently said that its Naia Renew cellulosic fiber gained Global Recycled Standard (GRS) certification on Dec 13. This validates the recycled content, chain of custody, social and environmental practices and chemical boundaries of Naia Renew.
The GRS certification process is owned by Textile Exchange, a global non-profit dedicated to long-term transformation in the fashion and textile industries. SCS Global Services, an independent third-party certifying authority, audits the whole supply chain to achieve the certification. Increased traceability, environmental principles, social criteria, chemical composition and labeling are all provided.
Eastman's brand credibility is increased through third-party certifications. The company's objective is to make sustainable textiles available to everyone, and it accomplishes this by creating trust with its consumers and collaborators. This certification lends additional legitimacy to the company's fabrics and sustainability story.
Eastman's molecular recycling technologies break down waste into molecular building blocks, allowing the materials to be employed in new products that are indistinguishable from non-recycled materials. The GRS has been expanded to include gasification, allowing for a broader approach to making sustainable textiles accessible to everybody.
In recent years, the textile industry has switched toward circular materials to assist in addressing one of the world's most pressing issues: waste pollution, particularly textile waste. Eastman molecular recycling complements mechanical recycling and is a solution for difficult-to-recycle waste materials, such as textiles, which are impacted by elements such as fiber blends, chemicals and additives.
Shares of Eastman have gained 9.5% over the past year against a 6.2% decline of its industry.
Image Source: Zacks Investment Research
The company, on its third-quarter call, stated that it is seeing muted demand heading into the fourth quarter as customers are cautious in the prevailing challenging environment. In addition, it anticipates regular seasonality in key end markets, including building and construction, consumer durables and performance films for automotive applications. It expects EPS for 2023 to be between $6.30 and $6.50. Furthermore, EMN expects to deliver $1.4 billion in operating cash flow in 2023.
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and Hawkins, Inc. (HWKN - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently carries a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of roughly 225%, on average. The stock is up around 53% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 32.9% in a year.
Hawkins has a projected earnings growth rate of 21% for the current year. It currently carries a Zacks Rank #2 (Buy). Hawkins delivered a trailing four-quarter earnings surprise of roughly 27.5%, on average. HWKN shares are up around 83.8% in a year.
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Eastman's (EMN) Naia Gets Global Recycled Standard Certification
Eastman Chemical Company (EMN - Free Report) recently said that its Naia Renew cellulosic fiber gained Global Recycled Standard (GRS) certification on Dec 13. This validates the recycled content, chain of custody, social and environmental practices and chemical boundaries of Naia Renew.
The GRS certification process is owned by Textile Exchange, a global non-profit dedicated to long-term transformation in the fashion and textile industries. SCS Global Services, an independent third-party certifying authority, audits the whole supply chain to achieve the certification. Increased traceability, environmental principles, social criteria, chemical composition and labeling are all provided.
Eastman's brand credibility is increased through third-party certifications. The company's objective is to make sustainable textiles available to everyone, and it accomplishes this by creating trust with its consumers and collaborators. This certification lends additional legitimacy to the company's fabrics and sustainability story.
Eastman's molecular recycling technologies break down waste into molecular building blocks, allowing the materials to be employed in new products that are indistinguishable from non-recycled materials. The GRS has been expanded to include gasification, allowing for a broader approach to making sustainable textiles accessible to everybody.
In recent years, the textile industry has switched toward circular materials to assist in addressing one of the world's most pressing issues: waste pollution, particularly textile waste. Eastman molecular recycling complements mechanical recycling and is a solution for difficult-to-recycle waste materials, such as textiles, which are impacted by elements such as fiber blends, chemicals and additives.
Shares of Eastman have gained 9.5% over the past year against a 6.2% decline of its industry.
Image Source: Zacks Investment Research
The company, on its third-quarter call, stated that it is seeing muted demand heading into the fourth quarter as customers are cautious in the prevailing challenging environment. In addition, it anticipates regular seasonality in key end markets, including building and construction, consumer durables and performance films for automotive applications. It expects EPS for 2023 to be between $6.30 and $6.50. Furthermore, EMN expects to deliver $1.4 billion in operating cash flow in 2023.
Eastman Chemical Company Price and Consensus
Eastman Chemical Company price-consensus-chart | Eastman Chemical Company Quote
Zacks Rank & Key Picks
Eastman currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Denison Mines Corp. (DNN - Free Report) , Axalta Coating Systems Ltd. (AXTA - Free Report) and Hawkins, Inc. (HWKN - Free Report) .
Denison Mines has a projected earnings growth rate of 100% for the current year. It currently carries a Zacks Rank #1 (Strong Buy). DNN delivered a trailing four-quarter earnings surprise of roughly 225%, on average. The stock is up around 53% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axalta has a projected earnings growth rate of 5.4% for the current year. It currently carries a Zacks Rank #1. AXTA delivered a trailing four-quarter earnings surprise of roughly 6.7%, on average. The stock is up around 32.9% in a year.
Hawkins has a projected earnings growth rate of 21% for the current year. It currently carries a Zacks Rank #2 (Buy). Hawkins delivered a trailing four-quarter earnings surprise of roughly 27.5%, on average. HWKN shares are up around 83.8% in a year.