Latest news with #Kingsport
Yahoo
07-07-2025
- Business
- Yahoo
Here's What to Expect From Eastman Chemical's Next Earnings Report
With a market cap of $9.2 billion, Eastman Chemical Company (EMN) is a global specialty materials manufacturer, with operations spanning the United States, China, and other international markets. The company produces a wide range of chemicals, plastics, and fibers that serve diverse industries, including transportation, construction, electronics, and healthcare. The Kingsport, Tennessee-based company is slated to announce its fiscal Q2 2025 earnings results after the market closes on Thursday, Jul. 31. Ahead of this event, analysts expect EMN to report an adjusted EPS of $1.77, a 17.7% decline from $2.15 in the year-ago quarter. However, it has exceeded Wall Street's earnings expectations in the past four quarters. Chevron Stock's 4.6% Dividend Yield and 1.67% One Month Short Put Yield Make CVX a Buy Tariff Dealine, Fed Minutes and Other Key Thing to Watch this Week SoFi Stock Is Betting on Crypto Again. How Should You Play SOFI Stock Here? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. For fiscal 2025, analysts forecast the specialty chemicals maker to report adjusted EPS of $7.22, marking a decrease of 8.5% from $7.89 in fiscal 2024. Nevertheless, adjusted EPS is anticipated to grow 12.6% year-over-year to $8.13 in fiscal 2026. Over the past 52 weeks, shares of Eastman Chemical have dropped 17%, underperforming the broader S&P 500 Index's ($SPX) 13.4% gain and the Materials Select Sector SPDR Fund's (XLB) 4.1% return over the same time frame. Despite Eastman Chemical reporting better-than-expected Q1 2025 adjusted EPS of $1.91 on Apr. 24, shares dipped 6.2% the next day as revenue came in at $2.3 billion, missing the consensus estimates. Segment-level underperformance, particularly in Advanced Materials and Fibers, which saw revenue declines of 3.9% and 12.9% respectively, signaled demand softness and pricing pressure. Moreover, Q2 guidance flagged ongoing headwinds from U.S.-China tariffs, elevated maintenance expenses, and only modest sequential volume growth, with the company projecting adjusted EPS in the range of $1.70 to $1.90. Analysts' consensus view on Eastman Chemical stock is cautiously optimistic, with a "Moderate Buy" rating overall. Among 15 analysts covering the stock, eight suggest a "Strong Buy," two give a "Moderate Buy," and five recommend a "Hold." As of writing, EMN is trading below the average analyst price target of $94.94. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
01-07-2025
- Business
- Yahoo
Eastman Schedules Second-Quarter 2025 Financial Results News Release and SEC Form 8-K Filing, Teleconference and Webcast, and Release of Additional Information
KINGSPORT, Tenn., July 01, 2025--(BUSINESS WIRE)--Eastman Chemical Company (NYSE:EMN): Financial Results Release: Thursday, July 31, 2025 Approximately 4:15 p.m. Eastern Time Via wire distribution and News Center and SEC Form 8-K filing. Advance Slides, Webcast and Teleconference: Friday, August 1, 2025 8:00 a.m. Eastern Time Via listen-only live webcast and teleconference. Teleconference Pre-Registration: To speed up connecting into the teleconference, a pre-registration link for participants is available below. Upon registration, participants will receive unique dial-in information via email. Replay: A webcast replay, as well as a replay in downloadable MP3 format, will be available at Telephone replay available continuously beginning at approximately 1:00 p.m. Eastern Time, August 1, through 11:59 p.m. Eastern Time, August 11, 2025, Toll Free at +1 (866) 813-9403, passcode 957945. View source version on Contacts Investor Contact: Greg Riddle, 212-835-1620, griddle@ Media Contact: Tracy Kilgore Addington, 423-224-0498, tracy@
Yahoo
27-06-2025
- Business
- Yahoo
Eastman Board Appoints New Director
KINGSPORT, Tenn., June 27, 2025--(BUSINESS WIRE)--The Board of Directors of Eastman Chemical Company (NYSE:EMN) has appointed Mr. Damon Audia as a director. Audia is Senior Vice President and Chief Financial Officer for AGCO Corporation (NYSE:AGCO), an $11.7 billion global leader in agricultural machinery and precision ag technology. "We are thrilled to welcome Damon to our Board of Directors. His extensive experience in finance and his strategic acumen will be invaluable as Eastman continues to pursue its vision of innovation and growth," said Mark Costa, Board Chair and CEO. "Damon's leadership and deep understanding of business strategy and experience across diverse industries, including automotive and agriculture, will contribute significantly to our mission of delivering relevant and innovative solutions to our customers." Audia joined AGCO in 2022 as Chief Financial Officer. Prior to this, he held key financial leadership roles at Kennametal Inc., Carpenter Technology Corporation, and The Goodyear Tire & Rubber Company. Audia began his career in the automotive industry with Delphi Corporation and General Motors. He holds an MBA from Carnegie Mellon University and a bachelor's degree in general studies from the University of Michigan. Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company's innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2024 revenue of approximately $9.4 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit View source version on Contacts Media: Tracy Kilgore Addington423-224-0498 / tracy@ Investors: Greg Riddle212-835-1620 / griddle@ Sign in to access your portfolio
Yahoo
14-06-2025
- Business
- Yahoo
City manager breaks down 24% Kingsport property tax increase
KINGSPORT, Tenn. (WJHL) — Kingsport residents' property taxes will increase by 24% if the Board of Mayor and Aldermen (BMA) finalizes a fiscal 2026 budget they've already passed on one reading. Kingsport City Manager Chris McCartt explained the main drivers of that proposed increase Friday in an interview with News Channel 11. The tax hike would increase city property tax on a home assessed at $300,000 by $239, from $979 to $1,218. New Taco Bell proposed in Kingsport The 24.5% increase dwarfs the Model City's previous two property tax rate increases. The rate increased 6.4% in 2022, which was the first increase since 2014, when the BMA raised rates 6.7%. McCartt said rising costs that will allow Kingsport to 'maintain competitive pay for all employees' and address inflation are just one part of the equation. The other main driver is $3.8 million in lost revenue from personal property — the tax on equipment owned by businesses and manufacturers. That came after a biannual 'ratio' adjustment two years ago. McCartt said the BMA had gone to extraordinary measures to avoid an increase since 2023, patching the $3.8 million hole — roughly equal to the city's annual paving budget — with one-time money and fund balances. 'When we got to fiscal '25, I told the board, 'I'm pulling the last lever. As we move into fiscal 26, we are going to have to make an adjustment,'' McCartt said. The budget projects property tax revenues to increase from $45.6 million in the current fiscal year, which ends June 30, to $56.1 million next year. More than a third of that money, which will recur each year, is headed toward the city's paving needs. 'It restores the funding that was lost in 2023 that has been dedicated to our sustainable paving program,' McCartt said. 'Over the last couple of years we use one-time dollars to continue that while those recurring dollars went back in to balance other aspects of our operations.' Specific paving priorities were part of a 16-page PowerPoint McCartt reviewed with BMA members to explain the budget. For 2026 they include $2.5 million for work in 'Area 29' in and around Cooks Valley Road. KINGSPORT BUDGET PRESENTATION 'Since 2017, we have been in a catch-up mode, trying to get paving back in line with where the expectation is, where the industry average is, and this is a huge priority for the City of Kingsport.' Annual borrowing payments on eight major infrastructure projects worth about $10 million is another use of the new money, McCartt said. Those include everything from infrastructure improvements to bridges and, the most expensive project, replacement of the heating and cooling system at Washington Elementary. Those also include $650,000 to improve the Eastman Road/Jack White Drive intersection, which McCartt thinks will be an easy-to-see benefit of people's tax dollars. 'They are going to know that when they are going through that intersection. We've had high crash volume there. We need to improve sight distance, improve the ingress-egress coming out really both sides of that intersection.' Additionally, about $4.5 million a year of the $10 million in new annual tax revenue will fund employee raises that average about 8%. Employee compensation was also cited as one reason for the most recent tax hike, in 2022, but McCartt said adjustments made then didn't turn out to be sufficient. 'We felt like we were at least going to be in the game and for the most part we have been until we got into fiscal '24 and fiscal '25,' McCartt said. 'We've even seen major adjustments be made by municipalities or county governments to address pay.' He said a market study showed Kingsport hadn't kept up. The proposed budget includes raises that average about 8%. 'We're a service-based industry. It takes people to deliver the service that we provide police, fire, sanitation, parks and rec that's run by people…the employees that provide and really love providing services to the citizens, that's why they are in this business, they are now being compensated at a wage that is comparable to what the region is.' Bristol TN leaders considering 29% property tax hike McCartt said he's hopeful that like BMA members, who had staff shave 9 cents off what was originally a 42-cent (31%) increase, property owners will look at the evidence and accept the results. 'When you look and add those up as a taxpayer, you then have the ability to go see, yeah January of '26, they're going to issue debt, there's an intersection that's being built and here's the PaveKingsport dot com site that shows where we're paving and the intersections and everything that's going to be done as part of the workforce program.' 'Raise taxes, you better be able to show exactly where those dollars are being spent,' McCartt said. 'I feel like we've been able to do so through this budget process.' The proposed increase passed over the objection of Alderman Morris Baker. It has a final reading on Tuesday. Because it was also a reappraisal year — and the average residential value growth of 72% exceeded the overall growth of 50% — the average homeowner is likely to get hit even harder than the 24% increase. McCartt said that's one more reason he's banking on what he says is a highly transparent process to convince most taxpayers they're getting a bang for their increased bucks. 'As a taxpayer, I want to know exactly where those dollars are going. If you come back and say they're going into general operations, that's not a good answer.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
24-05-2025
- Automotive
- Yahoo
Crash shuts down I-26 near Rock Springs Road
KINGSPORT, Tenn. (WJHL) — Interstate 26 East has been shut down near the Rock Springs Road exit in Kingsport due to a crash, according to the Tennessee Department of Transportation. TDOT says the eastbound lanes are closed at mile marker 7. One lane is closed westbound. Sullivan County Sheriff's Office sued for wrongful death related to 2024 BRMC incident TDOT reported the crash at 8:07 p.m. News Channel 11 has reached out to the Tennessee Highway Patrol for more information. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
