KINGSPORT, Tenn. (WJHL) — Eastman Chemical CEO Mark Costa struck a cautiously optimistic tone for 2026 earnings and business in a Tuesday morning call with investors, hours after the company narrowly missed third-quarter earnings expectations during what has been a down year so far.

Eastman reported earnings of $1.14 per share late Monday. Earnings and revenue both are down through three quarters compared to 2024. Costa has cited a long-running manufacturing recession that's softened global demand and tariffs as the main contributors to the slump, which he expects to continue through the fourth quarter.

Eastman has cut costs to conserve cash this year, but "unwinding inventory" during slow demand has taken longer than expected, Costa said, and lower sales volumes have hit revenues and ea

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