Why are Eastman Chemical stocks down this year?
Eastman Corporation’s stock has dropped nearly 2 percent in 2016, making it one of the biggest losers among the chemical stocks that track stock prices.
The company reported Thursday that it has lost more than $1 billion on stock-market trading this year, far worse than expected.
It has reported that it expects to post a net loss of $2.1 billion this year.
Investors are looking for the company to turn things around, as the company is facing a huge cost overruns in its new manufacturing facility in China.
The new facility, known as the Eastman Automotive Plant, is expected to cost $3.2 billion and is expected take two years to complete.
The cost overrun will also affect the company’s plant in Ohio.
The plant has been delayed for several years, and Eastman has been working to get it up and running.
The factory, which is expected be ready by the end of 2019, is a key component of the Eastsons new plan to build a new factory in China that will be completed by 2021.
But the company also faces a $2 billion cost overrun for the Eastmans new plant in China, which has already cost the company millions.
The Eastman plant is expected create as many as 2,200 jobs.
As of now, Eastman is projecting to create just under 2,000 jobs, which would bring the company back to its all-time high.
That’s according to its latest financial statement, which the company posted Thursday.
The average American worker has a wage of about $34,000 a year, according to the U.S. Bureau of Labor Statistics.
Bureau also projects that a U. of A. graduate would make $25,000 per year.
The companies earnings fell in the first quarter of 2016 as it had to pay for the plant in Japan and had to cut wages.
The downturn has affected Eastman’s earnings as well.
It reported an operating loss of more than 100 million dollars, which was more than double the companys previous loss of just over $7 million in the same quarter last year.
That was mainly due to the cost overrun in the Eastland factory.
In addition, the company reported a loss of nearly $9.4 million in foreign currency gains, which were primarily due to higher dollar appreciation.
The stock has declined by more than 1 percent since its peak of more 100 percent in the second quarter of 2017.
However, investors seem to have taken a more cautious approach in recent months.
Eastman shares closed Thursday at $32.63, down about $2 from their high of $37.55 in late January.
They were up nearly 6 percent from their closing price of $35.10 on June 5, a record high.
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