January 25, 2021

teams

Eastman Chemical Company EMN recently announced partnership with Italy-based Gruppo Maip to formulate new sustainable polymer solutions for automotive applications. This will facilitate a range of formulations based on Eastman’s Advanced Circular Recycling technology, giving both biobased and molecular-recycled content solutions with Eastman Tritan Renew copolyester and Treva Renew engineering bioplastic.

Tritan Renew is powered by Eastman’s polyester renewal technology. It provides up to 50% certified recycled content redirected from post-consumer and postindustrial waste streams. It delivers the same high performance as virgin plastics, unlike mechanically recycled plastics.

Up to 48% of Treva Renew is biobased content sourced from sustainably managed forests. It is certified by the USDA’s Bio Preferred program. Moreover, it gains from carbon renewal technology that uses mixed waste plastic, providing an additional 23% certified recycled content.

Eastman Chemical is benefiting from its innovation-driven growth model, cost-management actions and acquisitions.

Eastman Chemical, in its third-quarter call, stated that it has entered the fourth quarter of 2020 with strong momentum. It expects adjusted earnings per share (EPS) for the fourth quarter to be similar to fourth-quarter 2019 adjusted EPS of $1.42. The company also noted that it is on track to deliver nearly $150 million of cost savings for 2020 with around $40 million expected in the fourth quarter. It also expects to generate more than $1 billion of free cash flow this year.

 

Eastman Chemical Company Price and Consensus

 

Eastman Chemical Company Price and Consensus

Eastman Chemical Company price-consensus-chart | Eastman Chemical Company Quote

 

Zacks Rank and Key Picks

Eastman Chemical currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks worth considering in the basic materials space are New Gold Inc. NGD, Barrick Gold Corporation GOLD, and Pretium Resources Inc. PVG.

New Gold has a projected earnings growth rate of 100% for the current year. The company’s shares have rallied around 121% in a year. It currently carries a Zacks Rack #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Barrick Gold has an expected earnings growth rate of 115.7% for the current year. The company’s shares have surged around 42% in the past year. It currently carries a Zacks Rank #2.

Pretium Resources has an expected earnings growth rate of 25.5% for the current year. The company’s shares have gained around 15% in the past year. It currently carries a Zacks Rank #2.

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WASHINGTON — President-elect Joe Biden‘s transition teams for the Environmental Protection Agency and Transportation Department will be run by several agency alumni who served under President Barack Obama and helped craft regulations like the Clean Power Plan and tougher fuel economy standards for vehicles.



Joe Biden wearing a suit and tie


The head of the EPA team is Patrice Simms, an environmental attorney at Earthjustice – which has filed over 100 lawsuits against President Donald Trump’s administration. He worked as deputy assistant attorney general in the Justice Department’s environment division.

Other Obama EPA lawyers have also been named, including Joe Goffman, general counsel at the agency under Obama EPA chief Gina McCarthy, and Cynthia Giles, who was assistant administrator in the EPA’s enforcement office.

The Trump administration rolled back Obama-era fuel economy standards and stripped California of the ability to set zero emission vehicle rules. Both actions remain under appeal.

Biden vows to “establish ambitious fuel economy standards” and to negotiate them with workers, environmentalists, automakers and states.

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Biden‘s Transportation Department team is headed by Phillip Washington, chief executive of the Los Angeles County Metropolitan Transportation Authority.

It also includes New York City Transportation Commissioner Polly Trottenberg, a former Transportation official under Obama, and Therese McMillan, former acting head of the Federal Transit Administration under Obama.

For the Interior Department, Biden named former Assistant Secretary for Indian Affairs Kevin Washburn to head up the transition, signaling an emphasis on indigenous representation at the agency that oversees federal and tribal lands.

Other Obama era Interior officials on the team include Elizabeth Klein, former deputy assistant secretary, policy, management & budget, who has been working with an organization representing state attorneys general challenging the Trump administration’s regulatory rollbacks, and Kate Kelly, a senior adviser to former Interior Secretary Sally Jewell.

The team also includes Maggie Thomas, previously a climate policy adviser to Senator Elizabeth Warren and Washington Gov. Jay Inslee, the latter rumored to be in the running for a “climate czar” role in the new administration. Climate change was Inslee’s key policy initiative when he ran against Biden in the Democratic primaries.

The Energy Department transition team is headed by Arun Majumdar, former head of the agency’s advanced research division called ARPA-E. Dan Arvizu, former head of the National Renewable Energy Lab, and Jonathan Elkind, former international energy and climate policy official under Obama are also on the team.

In the State Department transition team, Biden named one of the key legal architects of the Paris Agreement, Sue Biniaz, as a member, signaling the agency will prioritize international climate diplomacy under Biden.

Biden’s transition teams for environment, transportation stocked with Obama veterans originally appeared on Autoblog on Thu, 12 Nov 2020 07:30:00 EST. Please see our terms for use of feeds.

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