EASTMAN CHEMICAL CO
For the period ended Sep 30, 2026. Filed Oct 30, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 30, 2026
EMN$64.41-2.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-07-31.
0000915389-26-000141
2. Management's Discussion and Analysis of Financial Condition and Results of OperationsNon-GAAP Financial MeasuresOverviewCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-10-30.
0000915389-26-000172
2. Management's Discussion and Analysis of Financial Condition and Results of OperationsNon-GAAP Financial MeasuresOverviewThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 46 previous paragraphs and 49 current paragraphs.
38 unchanged; 7 reworded; 1 added; 1 removed; 0 previous and 3 current paragraphs rearranged.
Tables are not compared: 4 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
•(Benefit from) provision for income taxes;
Removed paragraphs (1)
Reworded paragraphs (7)
Previous wording
Eastman, from time to time, evaluates and discloses to investors and securities and credit analysts the non-GAAP debt measure "net debt", which management defines as total borrowings less cash and cash equivalents. Management believes this metric is useful to investors and securities and credit analysts to provide them with information similar to that used by management in evaluating the Company's overall financial position, liquidity, and leverage and because management believes investors, securities analysts, credit analysts and rating agencies, and lenders often use a similar measure to assess and compare companies' relative financial position and liquidity.
Current wording
Eastman, from time to time, evaluates and discloses to investors, securities analysts, and credit analysts the non-GAAP debt measure "net debt", which management defines as total borrowings less cash and cash equivalents. Management believes this metric is useful to investors, securities analysts, and credit analysts to provide them with information similar to that used by management in evaluating the Company's overall financial position, liquidity, and leverage and because management believes investors, securities analysts, credit analysts and rating agencies, and lenders often use a similar measure to assess and compare companies' relative financial position and liquidity.
Previous wording
Eastman's products and operations are managed and reported in four operating segments: Advanced Materials ("AM"), Additives & Functional Products ("AFP"), Chemical Intermediates ("CI"), and Fibers. Eastman uses an innovation-driven growth model which consists of leveraging world class scalable technology platforms, delivering differentiated application development capabilities, and relentlessly engaging the market. The Company's world class technology platforms, scale advantage, and sustainability macrotrends form the foundation of the Company's research and development ("R&D") and innovation initiatives. Molecular recycling technologies continue to be an area of investment focus for the Company and extend the level of differentiation afforded by our world class technology platforms. Eastman began operating the world's largest polyester molecular recycling facility in 2024. Differentiated application development converts market complexity into opportunities for growth and accelerates innovation by enabling a deeper understanding of the value of Eastman's products and how they perform within customers' and end-user products. Key areas of application development include thermoplastic conversion, functional films, coatings formulations, textiles, and personal and home care formulations. The Company engages the market by working directly with customers and downstream users, targeting attractive markets, and leveraging disruptive macro trends. Management believes that these elements of the Company's innovation-driven growth model, combined with disciplined portfolio management and balanced capital deployment, will result in consistent, sustainable earnings growth and strong cash flow from operations.
Current wording
Eastman's products and operations are managed and reported in four operating segments: Advanced Materials ("AM"), Additives & Functional Products ("AFP"), Chemical Intermediates ("CI"), and Fibers. Eastman uses an innovation-driven growth model which consists of leveraging world class scalable technology platforms, delivering differentiated application development capabilities, and relentlessly engaging the market.
Previous wording
Sales revenue increased in second quarter 2026 compared to second quarter 2025 primarily due to higher sales volume mix and higher selling prices. Higher sales volume mix in the AM and CI segments was partially offset by lower sales volume mix in the Fibers segment. Higher selling prices in the CI segment were primarily driven by tightening market conditions from the ongoing Middle East conflict. Higher selling prices in specialty businesses offset higher raw material and distribution costs.
Current wording
Sales revenue increased in third quarter 2026 compared to third quarter 2025 due to higher selling prices and higher sales volume mix. Higher selling prices were primarily driven by higher raw material and distribution costs as well as tight market conditions in the CI segment due to the ongoing conflict in the Middle East.
Previous wording
Sales revenue increased in first six months 2026 compared to first six months 2025 primarily due to a favorable foreign currency exchange impact.
Current wording
Sales revenue increased in first nine months 2026 compared to first nine months 2025 due to higher selling prices, higher sales volume mix, and a favorable foreign currency exchange impact.
Previous wording
EBIT excluding non-core items increased in second quarter 2026 compared to second quarter 2025 primarily due to higher selling prices, net of slightly higher raw material and energy costs and the benefit of continued cost reduction initiatives. These impacts were partially offset by higher selling general and administration ("SG&A") and planned maintenance expenses.
Current wording
EBIT excluding non-core items increased in third quarter 2026 compared to third quarter 2025 primarily due to improved asset utilization including lower planned maintenance expense and higher selling prices, net of higher raw material and distribution costs. These impacts were partially offset by higher variable compensation expense.
Previous wording
EBIT excluding non-core items decreased in first six months 2026 compared to first six months 2025 primarily due to lower sales volume mix, lower selling prices, higher raw material and energy costs, and higher SG&A expenses. These impacts were partially offset by the impact of cost reduction initiatives and a favorable foreign currency exchange impact primarily in the AM and AFP segments.
Current wording
EBIT excluding non-core items increased in first nine months 2026 compared to first nine months 2025 primarily due to a favorable foreign currency exchange impact and higher selling prices, net of higher raw material, energy, and distribution costs. These impacts were partially offset by lower sales volume mix. The benefit from continued cost reduction initiatives more than offset higher variable compensation expense.
Previous wording
Cash provided by operating activities was $87 million in first six months 2026 compared to $66 million in first six months 2025.
Current wording
Cash provided by operating activities was $377 million in first nine months 2026 compared to $468 million in first nine months 2025.
Rearranged current paragraphs (3)
Current report — wording carried from elsewhere
The Company's world class technology platforms, scale advantage, and sustainability macrotrends form the foundation of the Company's research and development ("R&D") and innovation initiatives. Molecular recycling technologies continue to be an area of investment focus for the Company and extend the level of differentiation afforded by our world class technology platforms. Eastman began operating the world's largest polyester molecular recycling facility in 2024.
Current report — wording carried from elsewhere
Differentiated application development converts market complexity into opportunities for growth and accelerates innovation by enabling a deeper understanding of the value of Eastman's products and how they perform within customers' and end-user products. Key areas of application development include thermoplastic conversion, functional films, coatings formulations, textiles, and personal and home care formulations.
Current report — wording carried from elsewhere
The Company engages the market by working directly with customers and downstream users, targeting attractive markets, and leveraging disruptive macro trends. Management believes that these elements of the Company's innovation-driven growth model, combined with disciplined portfolio management and balanced capital deployment, will result in consistent, sustainable earnings growth and strong cash flow from operations.