Eastman Chemical Company EMN recently proclaimed that its Naia Renew cellulosic fiber achieved Global Recycled Standard (GRS) certification on Dec 13. This affirms the recycled content, chain of custody, social and environmental practices as well as chemical boundaries of Naia Renew.
The GRS certification process is owned by Textile Exchange, a global non-profit committed to long-term transformation in the fashion and textile industries. SCS Global Services, an independent third-party certifying authority, scrutinizes the entire supply chain to acquire the certification. It covers increased traceability, environmental principles, social criteria, chemical composition, and labeling.
Third-party certifications amplify Eastman’s brand credibility. The company’s aim is to make sustainable textiles accessible to everyone and it does this by establishing trust with its consumers and collaborators. This certification adds further legitimacy to the company’s fabrics and sustainability narrative.
Eastman’s molecular recycling technologies disassemble waste into molecular building blocks, enabling the materials to be utilized in new products that are indistinguishable from non-recycled materials. The GRS has been broadened to encompass gasification, presenting a more comprehensive approach to making sustainable textiles available to everyone.
In recent years, the textile industry has transitioned towards circular materials to help address one of the world’s most pressing issues: waste pollution, especially textile waste. Eastman’s molecular recycling complements mechanical recycling and serves as a solution for challenging-to-recycle waste materials, like textiles, which are impacted by elements such as fiber blends, chemicals, and additives.
Shares of Eastman have surged 9.5% over the past year, outperforming a 6.2% decline of its industry.
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During its third-quarter call, the company noted a subdued demand entering the fourth quarter as customers are cautious amidst the prevailing challenging environment. It also expects regular seasonality in key end markets, including building and construction, consumer durables, and performance films for automotive applications. The projected EPS for 2023 is between $6.30 and $6.50. Furthermore, EMN anticipates delivering $1.4 billion in operating cash flow in 2023.
Eastman Chemical Company Price and Consensus
Eastman Chemical Company price-consensus-chart | Eastman Chemical Company Quote
Zacks Rank & Key Picks
Eastman currently holds a Zacks Rank #3 (Hold).
Stronger prospects in the basic materials space include Denison Mines Corp. DNN, Axalta Coating Systems Ltd. AXTA and Hawkins, Inc. HWKN.
Denison Mines anticipates a staggering 100% earnings growth rate for the current year and currently holds a Zacks Rank #1 (Strong Buy). DNN has delivered a trailing four-quarter earnings surprise of approximately 225%, on average. The stock has surged around 53% in a year. You can check out the complete list of today’s Zacks #1 Rank stocks here.
Axalta projects a 5.4% earnings growth rate for the current year and currently holds a Zacks Rank #1. AXTA achieved a trailing four-quarter earnings surprise of about 6.7%, on average. The stock has risen approximately 32.9% in a year.
Hawkins expects a 21% earnings growth rate for the current year and currently holds a Zacks Rank #2 (Buy). HWKN has delivered a trailing four-quarter earnings surprise of approximately 27.5%, on average. HWKN shares have surged around 83.8% in a year.
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Eastman Chemical Company (EMN) : Free Stock Analysis Report
Denison Mine Corp (DNN) : Free Stock Analysis Report
Axalta Coating Systems Ltd. (AXTA) : Free Stock Analysis Report
Hawkins, Inc. (HWKN) : Free Stock Analysis Report
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