Eastman Chemical Company (EMN Quick QuoteEMN - Free Report) is raising the prices of Glycol Ethers and Glycol Ethers Esters effective Aug 24 or as contracts permit.

The company is raising off-list prices of two products, PM Acetate and PM Solvent by 5 cents per lb each in North America. Eastman Chemical is taking appropriate pricing actions in response to the rising raw material costs.

Eastman Chemical, which is among the prominent chemical companies along with Celanese Corporation (CE Quick QuoteCE - Free Report) , Air Products and Chemicals, Inc. (APD Quick QuoteAPD - Free Report) and PPG Industries, Inc. (PPG Quick QuotePPG - Free Report) , noted, during its second-quarter earnings call, that strong volume gains in the specialty businesses and disciplined cost management, helped it achieve strong earnings growth in the first half of 2018. The company continues to expect adjusted earnings per share growth for 2018 of 10-14% year over year.
 
The company is focused on productivity and cost-cutting actions, which are helping it offset raw material cost inflation and other cost headwinds. Eastman Chemical expects to deliver $100 million of cost savings in 2018 under its cost-reduction program.

Eastman Chemical is seeing a rise in raw materials costs and the same is expected to persist in the second half of 2018. It is also exposed to volatility in ethylene prices. Nevertheless, the company’s productivity measures and actions to increase selling prices of its products are likely to help it offset the impact of these headwinds.
 

Eastman Chemical Company Price and Consensus

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