Mark Costa on price increases
From The Middle East conflict has a ‘significant CONSTRAINT’ on plastics, says Eastman Chemical CEO · · Fox Business
“We have raised prices, we have about 9 billion of revenue raising by 500 million dollars that we're doing in this quarter. That will allow to keep up with the raw material cost and specialties, and distribution costs and commodity part of portfolio, 15%, prices have gone up, our margins will improve and making more money starting with this quarter to back half.”
On , Mark Costa, Chairman & Chief Executive Officer at Eastman Chemical Co, spoke about price increases during The Middle East conflict has a ‘significant CONSTRAINT’ on plastics, says Eastman Chemical CEO on Fox Business.
About Mark Costa
Mark Costa, Chairman and CEO of Eastman Chemical, appeared on Fox Business on May 12, 2026, to discuss the impact of the Middle East conflict on global petrochemical markets. Costa stated that the situation in the Middle East is a "severe issue" for manufacturing and the chemicals and plastics sectors, creating a "significant constraint" on supply. He described this as a "net opportunity for earnings growth" for Eastman, citing the company's technology and core operations. Costa said Eastman has raised prices by $500 million in the current quarter on its $9 billion in revenue to keep up with raw material, specialty, and distribution costs. He noted that customers have not pushed back, as the entire industry is raising prices "faster than I have seen in 20 years." Costa added that while price increases may take months to reach consumer products, he is more concerned about a "volume shock" where manufacturers may be unable to produce goods. He expressed confidence that Eastman would improve margins and generate strong cash flow starting in the current quarter.