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Eastman (EMN) and Incipio to Promote Usage of Recycled Content

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Eastman Chemical Company EMN, along with Incipio Group, a global leader in consumer technology solutions, has announced a strategic partnership, under which the latter will incorporate recycled materials across its portfolio of brands. It will start using Eastman Tritan Renew copolyester, a durable, BPA-free material with 50% ISCC-certified recycled content, in select product lines across its brand portfolio starting later this year.

Tritan Renew is manufactured using Eastman's Advanced Circular Recycling technologies. It breaks down plastic waste to create new material. By using plastic waste instead of traditional fossil feedstock, the company diverts plastic from landfills or those being dumped in the ocean, thereby also reducing greenhouse gas emissions. Products made with Tritan Renew have no trade-offs in quality or clarity, unlike those made from mechanically recycled plastic.

Eastman noted that Incipio is taking bold steps toward its goal of aiming for sustainable materials. It is noteworthy that companies are striving for innovative methods for reducing the environmental impact, which is made possible by Eastman’s molecular recycling technology.

Incipio Group said that Eastman’s Tritan Renew will help drive forward its goal of finding a one-for-one sustainable substitute wherever possible for every material used in its products.

Shares of Eastman have grown 72.3% in a year compared with the industry’s rise of 53.3%. The estimated earnings growth rate for the company for the current year is pegged at 40.8%.

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In the last-quarter earnings call, the company said that it is seeing continued momentum in the second quarter as it is gaining from innovation, strong market recovery and lower operating costs from its operations transformation program. It expects adjusted earnings per share between $8.25 and $8.75 for 2021. It also anticipates free cash flow to reach $1.1 billion this year.

Eastman Chemical Company Price and Consensus

Eastman Chemical Company Price and Consensus
Eastman Chemical Company Price and Consensus

Eastman Chemical Company price-consensus-chart | Eastman Chemical Company Quote

Zacks Rank & Other Key Picks

Currently, Eastman carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the basic materials space are Orion Engineered Carbons S.A OEC, Tronox Holdings PLC TROX and Univar Solutions Inc. UNVR, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Orion has a projected earnings growth rate of 61.5% for the current year. The company’s shares have grown 76.5% in a year.

Tronox has a projected earnings growth rate of 242.9% for the current year. The company’s shares have seen a surge of 204.1% in a year.

Univar has a projected earnings growth rate of 35.2% for the current year. The company’s shares have jumped 50.9% in a year.

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Eastman Chemical Company (EMN) : Free Stock Analysis Report

Tronox Holdings PLC (TROX) : Free Stock Analysis Report

Orion Engineered Carbons S.A (OEC) : Free Stock Analysis Report

Univar Solutions Inc. (UNVR) : Free Stock Analysis Report

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