Advertisement
Canada markets closed
  • S&P/TSX

    22,851.17
    -144.22 (-0.63%)
     
  • S&P 500

    5,588.27
    -78.93 (-1.39%)
     
  • DOW

    41,198.08
    +243.60 (+0.59%)
     
  • CAD/USD

    0.7305
    -0.0010 (-0.13%)
     
  • CRUDE OIL

    82.92
    +2.16 (+2.67%)
     
  • Bitcoin CAD

    88,384.79
    -721.62 (-0.81%)
     
  • CMC Crypto 200

    1,339.85
    -2.48 (-0.18%)
     
  • GOLD FUTURES

    2,461.70
    -6.10 (-0.25%)
     
  • RUSSELL 2000

    2,239.67
    -24.01 (-1.06%)
     
  • 10-Yr Bond

    4.1460
    -0.0210 (-0.50%)
     
  • NASDAQ

    17,996.92
    -512.42 (-2.77%)
     
  • VOLATILITY

    14.52
    +1.33 (+10.11%)
     
  • FTSE

    8,187.46
    +22.56 (+0.28%)
     
  • NIKKEI 225

    41,097.69
    -177.39 (-0.43%)
     
  • CAD/EUR

    0.6677
    -0.0031 (-0.46%)
     

Eastman (EMN) Unveils Naia Renew for Denim for Sustainability

Eastman Chemical Company EMN is on a mission to make sustainable fashion more accessible by making Naia Renew available at scale, which provides versatility across a wide range of fashion segments. Eastman's integration of Naia Renew into the denim segment gets it one step closer to its aim of making sustainable style accessible to all. The company is exhibiting Naia Renew's potential with many of its worldwide brand partners, who are already using the novel fibers in denim.

Denim Premiere Vision brings together designers and producers from all around the world every six months. Exhibitors, such as the Eastman Naia team, share denim advancements and research fashion trends to fulfill consumer demands. Naia Renew fiber works well with natural fibers, other man-made cellulose fibers, synthetic fibers and multi-content yarns. Due to its ability to create a fashionable, eco-friendly fabric with a genuine feel and appearance, it is the ideal addition to denim, appealing to a global audience.

In addition, Naia Renew effectively controls odor and moisture, improves spreading speed, and is hypoallergenic and skin-friendly for denim that is soft to the touch both before and after washing. Denim combined with Naia Renew is comfortable in any season.

Naia Renew is a cellulose acetate fabric composed of 60% sustainably sourced wood pulp and 40% certified recycled material. Certified recycled content in Naia Renew is diverted from landfills and converted to molecular building blocks using Eastman's unique molecular recycling technology. The molecules are mixed with sustainably sourced wood pulp to create Naia Renew fibers for new textiles. This approach results in a circular, completely traceable and biodegradable cellulosic fiber with a lower carbon footprint. This also decreases dependency on virgin materials.

Naia Renew has acquired several sustainability certifications, including the Global Recycled Standard and OEKO-TEX class 1. Eastman collaborates with firms like Patagonia and Debrand to recycle pre- and post-consumer waste for its molecular recycling technology, which creates Naia Renew fiber.

Shares of Eastman have gained 25.5% over the past year against a 3.3% decline of its industry.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Eastman Chemical, on its first-quarter call, said that it predicts uncertain primary demand in key markets and regions through the remainder of 2024. However, the company continues to gain from its innovation-driven growth approach, which facilitates growth beyond its end markets. Eastman expects to gain from revenues and earnings generated by its Kingsport methanolysis unit, mostly in the second half of the year. The company plans to maintain pricing discipline and improve asset utilization throughout the year.

Eastman Chemical Company Price and Consensus

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

Zacks Rank & Key Picks

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

Better-ranked stocks in the basic materials space include ATI Inc. ATI, Carpenter Technology Corporation CRS and Ecolab Inc. ECL.

ATI carries a Zacks Rank #1 (Strong Buy). ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company’s shares have soared 46.6% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company’s shares have soared 102.8%% in the past year.

The Zacks Consensus Estimate for Ecolab's current-year earnings is pegged at $6.59 per share, indicating a year-over-year rise of 26.5%. ECL, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company’s shares have rallied roughly 34.4% in the past year.

ADVERTISEMENT

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Ecolab Inc. (ECL) : Free Stock Analysis Report

ATI Inc. (ATI) : Free Stock Analysis Report

Carpenter Technology Corporation (CRS) : Free Stock Analysis Report

Eastman Chemical Company (EMN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research