Eastman Chemical Company (EMN - Free Report) has received Cradle to Cradle certified (C2C) Bronze recognition. For the first time, the company has been awarded the Platinum-level Material Health Certificate through December 2019.
The certification applies for eight polymer product lines, which include Eastar, Embrace, Ecdel, Cadence, Provista, Neostar, Tritan and Spectar. The company’s products for the very first time have achieved the highest rating for Material Health. Eastman Tritan copolyester has also been included in the certification for the first time.
The C2C certification process, administered by the Cradle to Cradle Products Innovation Institute, evaluates the product materials and looks at finished goods and takes decisions regarding disposition of goods, energy and water usage, and companies’ social responsibility strategies.
The company has been awarded the Platinum-level Material Health Certificate as a result of assessment made by McDonough Braungart Design Chemistry (MBDC), a third-party accredited organization, which evaluated all formulation components and found none to be hazardous.
Eastman Chemical is striving to create a safe and sustainable product portfolio and also committed to enhancing the quality of product life.
During the second-quarter earnings call, Eastman Chemical stated that strong volume gains in specialty businesses and disciplined cost management have helped the company achieve strong earnings growth in first-half 2018. The company continues to expect year-over-year growth of 10-14% in adjusted earnings per share for 2018.
In a year’s time, shares of Eastman Chemical have outperformed the industry it belongs to. While the stock gained around 15.3%, the industry saw a rise of 8.5%.
The company is focused on productivity and cost-cutting actions, which are helping it offset raw-material cost inflation and other cost headwinds. In 2018, Eastman Chemical expects to deliver $100 million of cost savings under its cost-reduction program.
Eastman Chemical Company Price and Consensus
Zacks Rank & Stocks to Consider
Eastman Chemical is a Zacks Rank #3 (Hold) stock.
Some better-ranked companies in the basic materials space are Huntsman Corp. (HUN - Free Report) , Celanese Corp. (CE - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) .
Huntsman has an expected long-term earnings growth rate of 8.5% and a Zacks Rank #1 (Strong Buy). Shares of the company have gained 21.9% in a year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Celanese has an expected long-term earnings growth rate of 10% and carries a Zacks Rank #1. The stock has rallied 23.9% in a year.
Air Products has an expected long-term earnings growth rate of 16.1% and a Zacks Rank #2 (Buy). Shares of the company have risen 14.7% in a year’s time.
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