Q1 2025 Eastman Chemical Co Earnings Call Transcript
Key Points
- Eastman Chemical Co (EMN) reported successful operational performance in its methanolysis program, maintaining an 85% yield on DMT feedstock.
- The company is on track to achieve $50 million of EBITDA from manufacturing cost savings for the year.
- Customer engagement remains strong in the Renew segment, with over 100 customers involved, despite economic tensions.
- Eastman Chemical Co (EMN) is making progress in selling rPET, with plans to convert a Tritan line to PET production.
- The company has a strategic focus on cash generation and has reduced capital expenditure to optimize efficiency and effectiveness.
- Eastman Chemical Co (EMN) revised its revenue guidance for the Renew segment due to trade tensions and tariffs impacting consumer durable markets.
- The Fibers segment is experiencing challenges from both tariff-related impacts and persistent destocking by customers.
- Tariffs between the US and China are creating uncertainty, impacting sales and causing customers to delay purchases.
- The company faces a $30 million impact in Q2 due to tariffs, primarily affecting volume rather than direct tariff costs.
- Eastman Chemical Co (EMN) has abandoned its annual earnings guidance due to high uncertainty in the market, focusing instead on cash flow.
Good day, everyone, and welcome to the first-quarter 2025 Eastman conference call. Today's conference is being recorded. This call is being broadcast live on the Eastman website, www.eastman.com.
We'll now turn the call over to Mr. Greg Riddle, Eastman Investor Relations. Please go ahead, sir.
Thank you very much, Becky. And good morning, everyone, and thanks very much for joining us today. On the call with me are Mark Costa, Board Chair and CEO; Willie McLain, Executive Vice President and CFO; and Jake LaRoe and Emily Alexander from the Investor Relations team.
Yesterday, after market close, we posted our first-quarter 2025 financial results news release and SEC 8-K filing, our slides, and the related prepared remarks in the Investors section of our website, eastman.com.
Before we begin, I'll cover two items. First, during this presentation, you will hear certain
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