Eastman Chemical Company · NYSE:EMN
Eastman Chemical — Q3 2026 Earnings Presentation
14 slides from Eastman Chemical's earnings presentation, Oct 29, 2026
Slide 1: 3Q 2026 financial results
3Q 2026 financial results October 29, 2026
Slide 2: Prepared remarks, forward-looking statements, non-GAAP financial measures
Prepared remarks These slides should be reviewed with the accompanying prepared remarks posted on our website. Forward-looking statements The information in this presentation and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litig
Slide 3: 3Q26 highlights
3Q26 highlights Delivered EPS growth and solid cash flow in a dynamic environment Strong performance in AFP, demonstrating resilience in a challenging environment Demonstrated commercial discipline in Advanced Materials as improved selling prices substantially offset higher raw material and distribu
Slide 4: Corporate
Corporate $M (except EPS) 3Q26 3Q25 2Q26 3Q26 vs. 3Q25 EBIT highlights Revenue 2,385 2,202 2,513 • Higher selling prices in the specialties to offset higher raw material and distribution costs Adjusted EBIT 305 210 320 Adjusted EBIT margin 12.8% 9.5% 12.7% • Favorable price-cost in Chemical Intermed
Slide 5: Advanced Materials
Advanced Materials $M 3Q26 3Q25 2Q26 3Q26 vs. 3Q25 EBIT highlights • Substantial asset utilization tailwind and lower Revenue 762 728 817 planned maintenance cost Adjusted EBIT 103 53 109 • Sales volume/mix flat as increases in specialty Adjusted EBIT margin 13.5% 7.3% 13.3% plastics and advanced in
Slide 6: DOE reinstates $375M award to fund Kingsport methanolysis debottleneck
DOE reinstates $375M award to fund a ~30% Kingsport methanolysis debottleneck and a milestone-based path to our second facility • $375M reinstated grant (~$340M remaining after $35M previously received) with ~50% cost share by Eastman • The project scope has been adapted with key investment benefits
Slide 7: Additives & Functional Products
Additives & Functional Products $M 3Q26 3Q25 2Q26 3Q26 vs. 3Q25 EBIT highlights Revenue 784 716 807 • Higher selling prices due to cost-pass-through contracts adjusting to higher raw material and Adjusted EBIT 154 128 151 distribution costs Adjusted EBIT margin 19.6% 17.9% 18.7% • EBIT increase driv
Slide 8: Fibers
Fibers $M 3Q26 3Q25 2Q26 3Q26 vs. 3Q25 EBIT highlights Revenue 255 254 243 • Acetate tow volumes similar to last year Adjusted EBIT 52 67 36 • Favorable volume/mix Adjusted EBIT margin 20.4% 26.4% 14.8% • Lower acetate tow contract selling prices • Increased raw material and distribution costs Reven
Slide 9: Chemical Intermediates
Chemical Intermediates $M 3Q26 3Q25 2Q26 3Q26 vs. 3Q25 EBIT highlights Revenue 580 499 643 • Higher selling price driven by tight market Adjusted EBIT 35 1 58 conditions from Middle East conflict Adjusted EBIT margin 6.0% 0.2% 9.0% • Favorable volume/mix due to increased volume availability from exc
Slide 10: E2P: Enhanced operating flexibility creates lower volatility and improved earnings potential
E2P: Enhanced operating flexibility creates lower volatility and improved earnings potential in all ethylene market conditions E2P converts merchant ethylene into propylene for internal use E2P financial uplift • Enables the elimination of merchant ethylene sales • Enhanced capability to produce cos
Slide 11: Cash flow and other financial highlights
Cash flow and other financial highlights Resilient cash flow Balance sheet and tax rate Solid FY26 operating Expect to release working Well positioned with FY26 forecasted cash flow capital in 4Q26 solid investment-grade adjusted effective tax rate ~$850M ~$250 million balance sheet and sufficient l
Slide 12: 2026 outlook
2026 outlook Tailwinds vs 2025 Headwinds/uncertainties vs 2025 • Expecting to deliver ~3% volume/mix growth this year • Continuation of the Middle East conflict increasing inflation • Innovation-driven growth model is the primary driver of and interest rates and having a negative impact on demand gr
Slide 13: Appendix
Appendix 13
Slide 14: FY2026 underlying assumptions and modeling items
FY2026 underlying assumptions and modeling items • Brent crude oil: ~$95/bbl • Interest expense: ~$215 million • Full-year adjusted effective tax rate: 14%-15% • FY26 Depreciation & Amortization expense: $530 million • Foreign currency exchange rates, net of hedging: EUR/USD $1.15; USD/CNY $6.69; JP
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