Consumer Durables News

Business Digest: Sept. 21, 2022 | Local


Forbes ranks Christus among best employers

Forbes, a national business publication, has ranked Christus Health among the best employers in Texas in its annual Best Employers By State list. Christus is the top Texas-based health system in the Northeast Texas region in this year’s state-by-state ranking.

“Whether a seasoned nurse or a new grad, you will find a wealth of opportunity and an outstanding culture at Christus Good Shepherd Health System,” said Chris Glenney, chief executive officer, Christus Health Northeast Texas. “We are grateful to be recognized as one of the best health care employers in the state of Texas and the best in this region.”

 For the rankings, Forbes anonymously surveyed 70,000 Americans working for businesses with at least 500 employees. Survey respondents rated employers in several areas, including workplace safety, compensation, and advancement opportunities. Survey respondents were also asked how likely they would be to recommend their employer to potential employees.

Christus Health, including Christus Trinity Mother Frances, Christus Trinity Clinic, Christus Good Shepherd and Christus St. Michael, is ranked in the top 30 in Forbes’ annual list .

There are thousands of places to work across Texas; this year’s Forbes list ranks 101 Texas businesses and organizations .

Eastman updates financial expectations

Kingsport,Tenn.-based Eastman Chemical Co., which has a plant in Longview, lowered its third quarter earnings per share projections.

Third-quarter 2022 adjusted earnings per share (EPS) are expected to be about $2, compared with previous expectations for “solid growth compared to third-quarter 2021 adjusted EPS of $2.46.”

“There are three main factors negatively impacting our volume and product mix in the third quarter,” said Mark Costa, Board Chair and CEO. “While demand across some end markets, including agriculture and personal care, is demonstrating resilience, demand has slowed more than expected in August and September, in particular in the consumer durables and building and construction end markets and the European and Asian regions.

“At the same time, logistics have been challenged by an acceleration of marine logistics issues on the U.S. East Coast, particularly impacting high-value specialty products in Advanced Materials bound for other regions. Operational issues have also impacted volume and product mix, as recovery of our polymer lines from an electricity outage in July at our Kingsport facility took longer than expected,” Costa added.

Commenting on higher costs in the quarter, Costa said, “Certain costs have trended higher than expected and are impacting third-quarter performance, particularly for natural gas in the U.S., which reached a 14-year high during the quarter. A stronger U.S. dollar against a number of currencies, including the euro and the yen, is also negatively impacting results.

“In response to these accelerating challenges and continued uncertainty, we are raising prices where appropriate to offset higher costs and implementing measures to control costs across the company,” Costa said.

“As we close a challenging third quarter, our commitment to our growth programs is unwavering. Our investments have us well positioned as a leading specialty materials company, underpinned by our leadership position in the circular economy,” Costa concluded.

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