Key Highlights

  • Eastman Chemical ranked first with reported sales of $2,385 million, up 8%.
  • Olin reported sales of $1,747.7 million and Net Income of $14.4 million.
  • Minerals Technologies reported sales of $554.9 million and raised its Dividend 8% to $0.13.
  • Quaker Chemical reported sales up 10% to $544.5 million.
  • FMC reported Revenue of $106 million after a $639 million hit from commercial actions.

Which chemical and materials companies posted the largest third quarter sales?

The ranking below uses third quarter 2026 sales or revenue as stated in each company's report, and the bases differ. Minerals Technologies reports a fiscal quarter ended October 4, 2026, and FMC's $106 million is after a roughly $639 million negative effect from commercial actions announced October 15, 2026. All five reported on October 29, 2026.

Eastman Chemical (NYSE:EMN) ranks first with $2,385 million. Olin (NYSE:OLN) is second with $1,747.7 million. Minerals Technologies (NYSE:MTX) is third with $554.9 million, Quaker Chemical (NYSE:KWR) fourth with $544.5 million, and FMC (NYSE:FMC) fifth with $106 million.

1. Eastman Chemical: Can higher prices keep supporting $2.19 EPS?

Sales rose 8% from $2,202 million, with 7% from higher selling prices and 1% from Volume and mix. EBIT was $305 million versus $188 million, and adjusted EPS was $1.84 versus $1.14. GAAP EPS of $2.19 exceeded the adjusted figure because results included a $4 million income tax benefit.

CEO Mark Costa said the company remains on track for about $500 million of selling price increases. Operating Cash Flow was $290 million versus $402 million, and a $375 million Department of Energy award was reinstated. Chemical Intermediates sales rose 16% on tight market conditions, while Fibers sales were unchanged at $255 million. Full-year adjusted EPS is projected at $6.00 to $6.20.

2. Olin: How does the Huntsman Merger sit alongside lower earnings?

Sales were $1,747.7 million versus $1,713.2 million, but net income fell to $14.4 million, or $0.13 per share, from $42.8 million. Adjusted EBITDA was $191.4 million against $222.4 million. Operating problems at the Freeport, Texas VCM plant cost $32.1 million in higher costs and lost profit.

Winchester segment Earnings rose to $33.8 million from $19.3 million, and Epoxy earned $0.6 million versus a $32.2 million loss. Olin and Huntsman (NYSE:HUN) announced an all-stock merger on June 16, 2026, and Olin expects closing in the first quarter of 2027. Chlor Alkali Products and Vinyls sales fell to $850.8 million from $924.0 million, and the quarterly dividend was $0.20 per share. Net Debt was about $2.8 billion, or 5.2 times adjusted EBITDA.

3. Minerals Technologies: Can a dividend increase offset a 34% segment profit drop?

Net sales rose 4% to $554.9 million, and diluted EPS was $1.37, flat on the prior year. EPS excluding special items was $1.53 versus $1.55. Engineered Solutions sales grew 9% to $277 million, while Consumer & Specialties segment Operating Income fell 34% to $25 million on energy, transportation and raw material costs not fully recovered in the quarter.

Free cash flow was $51.9 million. The board raised the quarterly dividend 8% to $0.13 per share on October 21, 2026, payable December 3, 2026, and the company said it remains on track for mid-single-digit full-year revenue growth. Total debt was $957.8 million, and at its September 22, 2026 Investor Day it said two new opportunities could create over $200 million in revenue over five years.

4. Quaker Chemical: Why did non-GAAP EPS rise while GAAP EPS slipped?

Net sales were $544.5 million, up 10%, with about 7% from price and mix and about 3% from volume. GAAP EPS was $1.73 versus $1.75, while non-GAAP EPS was $2.39 versus $2.08. Gross Margin narrowed to 35.5% from 36.6% as raw material costs increased.

Americas sales grew 14% to $254.0 million, EMEA rose 6% to $152.5 million and Asia/Pacific rose 9% to $138.1 million. Adjusted EBITDA was $89.8 million against $82.9 million, and net debt was about $727.6 million. Management said the Iran conflict has increased uncertainty but has not had a material impact on results so far.

5. FMC: How did revenue fall to $106 million?

Revenue was $106 million versus $542 million, and North America revenue was negative $371 million. The company changed its North America pricing and rebate model and adjusted prices on select products held by channel customers. Excluding India and the commercial actions, revenue was $745 million, down 22%.

GAAP net loss was $2.07 billion, or $15.54 per diluted share, mostly on non-cash items tied to deferred tax Assets and intangibles. Adjusted EBITDA was negative $559 million. Cash from operations was $7 million versus negative $184 million, and Latin America revenue was $264 million versus $463 million.

How do the five compare on a calculated basis?

The five reported sales add to about $5,338.1 million (calculated). Eastman Chemical accounts for about 44.7% of that total (calculated) and Olin for about 32.7%, so the top two make up roughly 77.4% (calculated).

Adjusted EBITDA margins differ by Business mix. Olin's was about 11.0% of sales (calculated: $191.4 million over $1,747.7 million), while Quaker Chemical's was about 16.5% (calculated: $89.8 million over $544.5 million) and Minerals Technologies reported 17.2%.

Sales growth also varies. Olin's sales rose about 2.0% (calculated), against 4% at Minerals Technologies, 8% at Eastman Chemical and 10% at Quaker Chemical. FMC's revenue fell about 80.4% (calculated) from $542 million. Excluding the commercial actions, its revenue of $745 million would still have ranked third, ahead of Minerals Technologies and Quaker Chemical, which shows how much the ranking depends on the basis used.

What to Watch Next: Guidance, Dividends and the Merger Timeline

Olin guided fourth quarter 2026 adjusted EBITDA to $80 million to $100 million and expects the Huntsman merger to close in the first quarter of 2027. FMC guided fourth quarter revenue excluding India to $1.04 billion to $1.14 billion and Adjusted EBITDA to $210 million to $230 million, with the new pricing model expected to take effect over the next three quarters.

Eastman Chemical projects full-year adjusted EPS of $6.00 to $6.20 and operating cash flow of about $850 million, and expects to release Working Capital in the fourth quarter. Minerals Technologies pays its $0.13 dividend on December 3, 2026, and its $400 million of 7.5% senior notes due 2032 were completed on October 13, 2026. Quaker Chemical's Credit facilities mature in April 2031.