Quarterly ResultMay 1, 2026, 12:03 PM
EMN Q1 Sales $2.18B, EPS $0.93; $22M Tariff Refund Benefit
AI Summary
Eastman Chemical Co. reported a decrease in first-quarter 2026 sales to $2.18 billion and diluted EPS of $0.93, down from $2.29 billion and $1.57 respectively in Q1 2025. The company recognized a $22 million benefit in cost of sales due to a Supreme Court ruling on IEEPA tariffs. Additionally, Eastman issued $594 million in new notes and repaid $150 million of a term loan, while also amending its revolving credit facility. The U.S. Department of Energy also terminated an award for a recycling project in May 2025.
Key Highlights
- EMN Q1 2026 sales decreased to $2.18 billion from $2.29 billion in Q1 2025.
- Diluted EPS for Q1 2026 was $0.93, down from $1.57 in Q1 2025.
- Recognized a $22 million benefit in cost of sales from IEEPA tariff refunds.
- Issued $594 million in 4.5% notes due February 2031.
- Repaid the remaining $150 million of the 2027 Term Loan.
- Amended $1.50 billion revolving credit facility, extending maturity to February 2031.
- Net cash used in operating activities improved to $(137) million from $(167) million.
- DOE terminated Polyethylene Terephthalate Recycling Decarbonization Project award in May 2025.