EMN News & Events

Commenting on the outlook for full-year 2025, Costa said, "We entered 2026 with momentum on key initiatives to improve our financial results compared to 2025. Given the continued macro uncertainty, which has been a headwind for our industry for over four years, we remain focused on self-help measures that will deliver value this year. First, we are increasing our cost structure reduction actions to a range of $125 million to $150 million, building upon the actions already taken in 2025. Second, we continue to benefit from our innovation model creating growth with the largest driver being our methanolysis facility. Third, we expect improved manufacturing utilization including fewer shutdowns. Given the economic uncertainty and with a focus on driving cash flow, we are expanding our commercial activities into several targeted applications to increase utilization rates. Fourth, we expect a tailwind from foreign currency exchange rates. These factors are expected to be partially offset by headwinds that include variable compensation expense resetting. In addition, we expect lower spreads in Chemical Intermediates and a modest price decline in Fibers to hold volume stable, as well as higher energy costs. When putting these factors together, we are confident we can meaningfully improve earnings compared to 2025. With these assumptions, we also expect operating cash flow to be similar to 2025. At this time, we are not providing a full-year adjusted EPS range due to significant macroeconomic uncertainty. We aim to provide forward-looking commentary when we have more clarity on the macroeconomy. When looking at the first quarter, we expect a substantial sequential increase in adjusted EPS. Tailwinds include solid growth in volume/mix from normal seasonality and reduced customer caution after year-end customer inventory management. We also expect lower shutdown costs, improved utilization and continuing cost reduction actions. These tailwinds are expected to be partially offset by modestly lower prices in Fibers and Chemical Intermediates as well as higher energy costs. When putting these factors together, we expect first-quarter adjusted EPS to be between $1.00 and $1.20, excluding the potential impact from the ongoing winter storms."

Reports Q4 revenue $1.97B, consensus $2.02B. "Despite a challenging operating environment for the chemical industry and continued weakness in consumer discretionary end markets, our team delivered a year that demonstrates the strength of our portfolio's ability to generate cash," said Mark Costa, Board Chair and CEO. "In 2025, we generated operating cash flow approaching $1 billion, a clear validation of our disciplined approach to cost and working capital management. Our commercial teams showed excellence in defending the value of our products, and we accelerated our structural cost reductions throughout the year to protect margins and preserve competitiveness. We continued to prioritize stockholder returns and raised the dividend for the 16th consecutive year. In total, we returned approximately $500 million through dividends and share repurchases. We also advanced our strategic growth initiatives, including achieving our Kingsport methanolysis operational goals, producing greater than 2.5 times the recycled content versus 2024 and delivering approximately $60 million of incremental earnings. Looking ahead, we enter 2026 with a diverse portfolio, strong cash-generation capability, and a winning team that is well positioned to drive earnings growth, improve our cost structure, and capture recovery-driven upside when market conditions improve."