Eastman Chemical Company · NYSE:EMN
Eastman Chemical — Q3 2025 Earnings Presentation
14 slides from Eastman Chemical's earnings presentation, Nov 4, 2025
Slide 1: 3Q 2025 financial results
3Q 2025 financial results November 3, 2025
Slide 2: Prepared remarks; Forward-looking statements
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: 3Q 2025 – Executing on key priorities
3Q 2025 – Executing on key priorities Delivered strong cash flow consistent with the prior-year quarter, underscoring our commitment to cash generation. Demonstrated significant progress on inventory actions, with an approximately $200 million reduction from second-quarter 2025 levels. Continued com
Slide 4: Corporate
Corporate $M (except EPS) 3Q25 3Q24 2Q25 3Q25 vs. 3Q24 EBIT highlights • Lower sales volume/mix driven by weak Revenue 2,202 2,464 2,287 discretionary end markets and customer Adjusted EBIT 210 366 275 unwinding of inventory prepositioned to mitigate Adjusted EBIT margin 9.5% 14.9% 12.0% tariff risk
Slide 5: Advanced Materials
Advanced Materials $M 3Q25 3Q24 2Q25 3Q25 vs. 3Q24 EBIT highlights Revenue 728 787 777 • Weakness in high-value consumer discretionary end markets Adjusted EBIT 53 122 121 Adjusted EBIT margin 7.3% 15.5% 15.6% • Customers leveraging tariff-related prepositioned inventory built in 1H25 Revenue change
Slide 6: Circular Economy platform remains a key differentiator for Eastman
Circular Economy platform remains a key differentiator for Eastman ➢ Demonstrating the ability to operationalize our technology • In 3Q25, methanolysis consistently delivered high yields and the highest production to date • Remain on track to produce >2.5X 2024 production levels ➢ Building wins in a
Slide 7: Additives & Functional Products
Additives & Functional Products $M 3Q25 3Q24 2Q25 3Q25 vs. 3Q24 EBIT highlights • Lower sales volume/mix due to timing of heat Revenue 716 744 769 transfer fluids project completions and weakness Adjusted EBIT 128 130 153 in building and construction and auto refinish Adjusted EBIT margin 17.9% 17.5
Slide 8: Fibers
Fibers $M 3Q25 3Q24 2Q25 3Q25 vs. 3Q24 EBIT highlights • Lower sales volume/mix due to: Revenue 254 336 274 • Acetate tow customer inventory destocking EBIT 67 112 81 and industry capacity share adjustments EBIT margin 26.4% 33.3% 29.6% • Customers unwinding inventory that was prepositioned in 1H25
Slide 9: Chemical Intermediates
Chemical Intermediates $M 3Q25 3Q24 2Q25 3Q25 vs. 3Q24 EBIT highlights • Lower sales volume/mix primarily due to Revenue 499 593 463 continued weakness in U.S. building and EBIT 1 43 -30 construction end market EBIT margin 0.2% 7.3% -6.5% • Spread compression from weak market conditions Revenue chan
Slide 10: Multi-year cost actions have achieved meaningful results, with more to come
Multi-year cost actions have achieved meaningful results, with more to come Actions on track to reduce ~$175 million of costs, net of inflation, in 2025-2026 and targeted to address 2025 earnings decline in Fibers and Chemical Intermediates ~7% reduction in global headcount by around EOY 2025, inclu
Slide 11: We are taking aggressive actions and are focused on what we can control
We are taking aggressive actions and are focused on what we can control Sequential headwinds Focused on controllables • Normal seasonal declines across key end markets impacting • Emphasizing cash generation in uncertain environment with every consumer durables, building and construction, and lever
Slide 12: With macroeconomic uncertainty persisting, we are focused on improving results
With macroeconomic uncertainty persisting, we are focused on improving results Growth through innovation Address underperforming parts of our portfolio • Significant step up in Renew revenue for both rPET sales • Optimizing and rationalizing underperforming assets and specialty wins in a wide range
Slide 13: Appendix
Appendix 13
Slide 14: FY2025 underlying assumptions and modeling items
FY2025 underlying assumptions and modeling items Updated from prior guidance • Corporate ‘Other’ adjusted Loss Before Interest and Taxes: ~$180 million; previously ~$190 million • Interest expense: $205 million–$210 million; previously ~$205 million Unchanged from prior guidance • Brent crude oil: ~
Eastman Chemical Company — Q3 2025 Earnings Presentation on 6ix