We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eastman Chemical Coal Gasification Plant to Resume Operation
Read MoreHide Full Article
Eastman Chemical Company (EMN - Free Report) said that its coal gasification plant has been mechanically completed. The facility is currently in the process of restarting. This along with mitigating actions taken since the Oct 4 incident, is expected to enable full production of acetyls chemicals and derivatives in early next year.
In October 2017 Eastman Chemical’s Kingsport coal gasification area suffered an operational incident. However, there were no reports of any adverse impact either on the environment or on human health.
Eastman Chemical, in October, said that it expects the financial impact of the incident to reduce operating earnings in the range of $50-$100 million. Furthermore, it anticipates costs associated with the incident to be around $100 million in the fourth quarter.
Shares of the company have underperformed the industry it belongs to over the last six months. The stock has gained 11% compared with the industry’s nearly 16.8% rally.
Eastman Chemical expects to drive growth on the back of innovation and high margin products amid an uncertain global business environment. Eastman Chemical expects adjusted earnings per share growth in 2017 the top-end of the earlier projected range of 10-12% year over year, excluding the financial impact of the Kingsport operational incident.
Meanwhile, Eastman Chemical remains focused on cost-cutting and productivity. The company should also gain from its strategic acquisitions.
Kronos Worldwide has expected long-term earnings growth of 5%. Its shares have skyrocketed 115.1% year to date.
Koppers has expected long-term earnings growth of 18%. Shares of the company have rallied 24.8% year to date.
Westlake Chemical has expected long-term earnings growth of 10.6%. Its shares have soared 88.8% year to date.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Eastman Chemical Coal Gasification Plant to Resume Operation
Eastman Chemical Company Price and Consensus | Eastman Chemical Company Quote
Zacks Rank & Stocks to Consider
Eastman Chemical carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Kronos Worldwide Inc. (KRO - Free Report) , Koppers Holding Inc. (KOP - Free Report) and Westlake Chemical Corporation (WLK - Free Report) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kronos Worldwide has expected long-term earnings growth of 5%. Its shares have skyrocketed 115.1% year to date.
Koppers has expected long-term earnings growth of 18%. Shares of the company have rallied 24.8% year to date.
Westlake Chemical has expected long-term earnings growth of 10.6%. Its shares have soared 88.8% year to date.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>