Eastman Chemical Company · NYSE:EMN
Eastman Chemical — Q2 2025 Earnings Presentation
14 slides from Eastman Chemical's earnings presentation, Aug 1, 2025
Slide 1: 2Q 2025 financial results
2Q 2025 financial results July 31, 2025
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 release and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation
Slide 3: 2Q 2025 highlights
2Q 2025 highlights Continued commercial excellence by our teams keeping price-cost in specialties stable and defending market share Strong results in Additives & Functional Products driven by mix improvement and leverage to stable end markets and solid results in Advanced Materials despite significa
Slide 4: Corporate
Corporate $M (except EPS) 2Q25 2Q24 1Q25 2Q25 vs. 2Q24 EBIT highlights Revenue 2,287 2,363 2,290 • Volume/mix growth in the specialties more than Adjusted EBIT 275 353 311 offset by Fibers decline Adjusted EBIT margin 12.0% 14.9% 13.6% • Benefit from strong operational performance at the Adjusted EP
Slide 5: Circular Economy platform remains a key differentiator for Eastman despite near-term tariff and macro challenges
Circular Economy platform remains a key differentiator for Eastman despite near-term tariff and macro challenges ➢ Strong first-half operational performance at Kingsport methanolysis facility • Recorded best-ever uptime and production quantities, on track to achieve >2.5x 2024 levels and great progr
Slide 6: Advanced Materials
Advanced Materials $M 2Q25 2Q24 1Q25 2Q25 vs. 2Q24 EBIT highlights Revenue 777 795 719 • Lower volume/mix in building and construction and automotive EBIT 121 131 116 EBIT margin 15.6% 16.5% 16.1% • Stable price-cost • Higher planned maintenance Revenue change % Total Vol / Mix Price FX 2Q25 vs 2Q24
Slide 7: Additives & Functional Products
Additives & Functional Products $M 2Q25 2Q24 1Q25 2Q25 vs. 2Q24 EBIT highlights • Higher sales volume/mix in care chemicals and Revenue 769 718 733 specialty fluids Adjusted EBIT 153 123 141 • Favorable price-cost, with pricing mostly driven Adjusted EBIT margin 19.9% 17.1% 19.2% by cost-pass-throug
Slide 8: Fibers
Fibers $M 2Q25 2Q24 1Q25 2Q25 vs. 2Q24 EBIT highlights • Lower sales volume/mix due to: Revenue 274 330 288 • Acetate tow customer inventory destocking EBIT 81 122 88 and industry capacity share adjustments EBIT margin 29.6% 37.0% 30.6% • Lower textiles sales resulting from negative impact of tariff
Slide 9: Chemical Intermediates
Chemical Intermediates $M 2Q25 2Q24 1Q25 2Q25 vs. 2Q24 EBIT highlights • Spread compression from weak market Revenue 463 515 545 conditions EBIT -30 22 19 • Unplanned outage resulted in lost sales EBIT margin -6.5% 4.3% 3.5% volume and higher maintenance expense Revenue change % Total Vol / Mix Pric
Slide 10: Eastman is in a strong financial position to effectively navigate an uncertain environment
Eastman is in a strong financial position to effectively navigate an uncertain environment Track record of strong operating Significantly improved financial Manageable public debt maturities* cash flow in any environment position since COVID $1,800 1,000 $1,600 900 $1,400 800 Net Debt ($B) In millio
Slide 11: With heightened uncertainty, we are focused on what we can control
With heightened uncertainty, we are focused on what we can control Sequential headwinds Focused on controllables • Mid-single digit volume decline 3Q vs 2Q in specialties • Emphasizing cash generation in uncertain environment with driven by trade dispute every lever in the company • Customer and ret
Slide 12: With macroeconomic weakness and uncertainty persisting, we are increasing our focus on improving results
With macroeconomic weakness and uncertainty persisting, we are increasing our focus on improving results Significant reduction of our Multi-year focus on Commitment to address cost structure to strengthen improving cash flow and underperforming parts of competitiveness disciplined capital allocation
Slide 13: Appendix
Appendix 13
Slide 14: FY2025 underlying assumptions and modeling items
FY2025 underlying assumptions and modeling items Updated from prior guidance • Foreign currency exchange rates, net of hedging: USD/EUR $1.15 (previously $1.10); CNY/USD 7.20; JPY/USD 150 • Corporate ‘Other’ adjusted Loss Before Interest and Taxes: ~$190 million; previously ~$180 million • Interest
Eastman Chemical Company — Q2 2025 Earnings Presentation on 6ix