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Eastman Chemical Company (EMN-1.57%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports sales revenue of $9.4 billion for 2024, with an earnings before interest and taxes (EBIT) of $1.3 billion. Net earnings attributable to Eastman were $905 million, and diluted earnings per share were $7.67.
Eastman operates in four segments: Advanced Materials, Additives & Functional Products, Chemical Intermediates, and Fibers. The Advanced Materials segment reported sales of $3.05 billion, with an EBIT of $442 million.
The Additives & Functional Products segment reported sales of $2.86 billion, with an EBIT of $487 million. The Chemical Intermediates segment reported sales of $2.13 billion, with an EBIT of $101 million.
The Fibers segment reported sales of $1.32 billion, with an EBIT of $454 million. The company continues to focus on innovation-driven growth and sustainability initiatives.
Eastman invested $599 million in capital expenditures in 2024, primarily for growth initiatives and site modernization projects. The company anticipates capital spending between $700 million and $800 million in 2025.
The company reported cash provided by operating activities of $1.3 billion in 2024. Eastman repurchased 3 million shares of common stock for $300 million during the year.
Eastman maintains a strong financial position with total borrowings of $5 billion and cash and cash equivalents of $837 million as of December 31, 2024.
The filing also details various financial agreements, including a $1.5 billion revolving credit facility and a $250 million term loan.
Eastman continues to focus on sustainability and circular economy initiatives, including molecular recycling technologies and renewable product innovations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Eastman Chemical Company annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.