Cash flow increased by 75%year -on -year, and Eastman released the first quarter of 2021 Financial Sheet for Wall Decora report

Date:2022-8-08 Author:Sam

Eastman Chemical Corporation (NYSE: EMN) released the financial report in the first quarter of 2021, benefiting from the advantages of continuous and orderly production and operation, diversified terminal market, and innovative growth model. Eastman’s first quarter performance performance ideal. In the first quarter, free cash flow (the cash generated by operating activities minus net capital expenditure) reached US $ 125 million, an increase of about 75%year -on -year. In the first quarter of 2021, the company returned $ 134 million to shareholders in the form of dividend and stock repurchase. Eastman.Png’s first quarter financial report Eastman Chairman and CEO Mark Costa said: \”In the first quarter, we achieved outstanding performance. The excellent increase in the first quarter of 2020 increased by 5%. The first quarter performance also included the loss of about 30 million US dollars affected by the winter storm \”Uli\”. Continuously orderly production and operation, diversified terminal market, and innovative growth model The advantage has laid a good foundation for Eastman, and it can achieve rapid growth when the global economic recovery. In addition, we give priority to cash flow. In the first quarter Restore growth, but the challenge of the new crown epidemic still exists. We will continue to spare no effort to ensure the safety of employees and ensure the stability of our own operations. \”In the first quarter of 2021 and the first quarter of 2020, the performance comparison of various businesses added agents and functional materials -3% The growth of sales/product portfolio and the impact of the 3%favorable exchange rate affect the increase in sales revenue by 6%. The strong demand for the transportation terminal market (especially in Asia) and the continuous stable demand of the durable consumer goods market to promote the sales of coating additives/product portfolios to increase by more than 20%. Due to the continuous demand of the personal care terminal market, the income of the nursing chemical business has increased at a high number of digits. However, the aviation hydraulic oil market is still being recovered due to the new crown epidemic, and the continuous business weakness offset some growth. The decline in the pre -interest tax (EBIT) is due to the rise in raw materials, energy, and distribution costs. The increase in sales and the favorable product portfolio offset some of the adverse effects. Affected by the winter storm, \”Uri\”, the power supply of factory in Longview, Texas, caused a loss of about $ 10 million. Special materials -15%sales/product portfolio growth and 2%favorable exchange rate impact to promote sales revenue by 16%. In the first quarter, all special materials business achieved double -digit sales revenue growth. Among them, high -performance membrane business grew the fastest, sales increased by more than 30%, and sales revenue and profit reached a record high. Innovation and market development measures and strong demand for transportation terminal markets. The income growth of special plastic business has benefited from the strong growth of all its terminal markets (especially durable consumer goods and packaging markets). Special intermediate membrane income growth mainly benefits from transportationSteady recovery of the terminal market. The increase in EBIT is mainly due to the increase in sales of all product lines and a more advantageous product portfolio. The profit margin before the adjustment increased by 370 basis points. Chemical intermediate -sales revenue increased by 2%, mainly due to the increase in sales prices by 14%, but sales/product portfolio decreased by 13%, which largely offset the favorable impact of price rise. The rise in sales prices is due to the sharp increase in raw materials, energy and distribution costs. The decline in sales/product portfolio is 13%due to the discontinue production of certain product lines previously announced by some product lines in the Singapore factory, as well as the influence of the \”Uli\” in the winter storm. Sales caused by supply interruption decreased. The decline in EBIT was mainly due to the influence of the \”Uri\” in the winter storm that caused a loss of about 20 million US dollars. As the rise in sales prices exceeds the rise in raw materials and energy costs, the increased spread offsets most of the losses. Fiber -sales/product portfolio increased by 3%, and sales revenue increased by 2%. Naia \u0026#8482; and Naia \u0026#8482; Renew and other textile demand is more than expected, especially in Asia. Thanks to the recovery of the terminal market and our continuous innovation and market development measures, textile income increased by 48%. The discontinuation of a special tobacco special product offsets part of the growth. The sales of acetate beams are stable. The decline in EBIT is mainly due to the increase in the production of a special tobacco product and the increase in the cost of raw materials, energy and distribution. In the first quarter of cash flow, the cash generated by operating activities was US $ 2.6 billion. Free cash flow (cash generated by operating activities minus net capital expenditure) reached 125 million US dollars, an increase of about 75%over the first quarter of 2020. In the first quarter of 2021, the company returned $ 134 million to shareholders in the form of dividend and stock repurchase. In 2021, cash can be used to pay premiums to the quarterly dividend, reduce net debt, strengthen the acquisition and stock repurchase. In the 2021 outlook, when the outlook of 2021, Costa said: \”Our team performed well, reducing the impact of winter storms on production and operation, so that we can continue to serve customers and do it for the outstanding performance of the company’s first quarter performance. Out of outstanding contributions. Thanks to the innovative growth model, strong market recovery, and reducing operating costs through operational transformation projects, our good momentum in the first quarter will continue to the second quarter. With the strong performance in the first quarter, we expect that we expect After the adjustment in 2021, the profit per share is between $ 8.25 and $ 8.75. In addition, the free cash flow is expected to be close to 1.1 billion US dollars for the fifth consecutive year exceeding $ 1 billion. \”