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Huntsman Corporation (NYSE: HUN) is a prominent publicly traded global manufacturer and marketer of differentiated and specialty chemicals. With 2023 revenues of approximately $6 billion, Huntsman offers a vast array of chemical products that serve a broad range of consumer and industrial end markets worldwide. The company operates more than 60 manufacturing, Research & Development (R&D), and operations facilities across approximately 25 countries, employing around 6,000 associates within its continuing operations.
Huntsman's product portfolio includes Methyl Diphenyl Diisocyanate (MDI), Amines, Maleic Anhydride, and Epoxy-based polymer formulations. These products find applications in various sectors, including adhesives, aerospace, automotive, and construction. The company's operations are divided into three primary segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment, which includes MDI, polyols, and TPU (thermoplastic polyurethane), is the largest revenue generator for the company.
Huntsman has made strategic moves to enhance its financial health and operational efficiency. Between 2020 and 2022, the company strengthened its balance sheet through strategic divestitures and improved cash flow management, ensuring resilience amidst economic uncertainties. Despite challenges in 2023, such as weak demand and pricing pressures, Huntsman has maintained financial discipline, investing in strategic projects and returning cash to shareholders through share repurchases and dividends.
Recent achievements include the successful resolution of an unplanned outage at the Rotterdam facility and consistent capital expenditures aimed at long-term growth. Huntsman has also declared a $0.25 per share cash dividend, showcasing its commitment to shareholder value. The company continues to explore opportunities to improve its cost structure, targeting savings programs and strategic investments to stay competitive in the market.
Huntsman engages with its stakeholders through various channels, including quarterly earnings reports and investor conferences. The company maintains an active presence on social media platforms such as Twitter, Facebook, and LinkedIn, providing timely updates and insights into its operations and market performance.
For more information about Huntsman Corporation, visit the company's website at www.huntsman.com.
Huntsman (NYSE: HUN) has announced that its Board of Directors declared a quarterly cash dividend of $0.25 per share on its common stock. The dividend will be paid on December 31, 2024, to stockholders of record as of December 13, 2024.
Huntsman (NYSE: HUN) reported third quarter 2024 results with revenues of $1,540 million, a net loss of $33 million, and adjusted EBITDA of $131 million. The company experienced a diluted loss per share of $0.19, compared to $0.00 in the prior year period. Total volumes improved 5% versus the prior year with stable margins sequentially. The company successfully placed $350 million of senior notes due 2034 with a 5.7% coupon rate. Free cash flow from continuing operations was $93 million, down from $117 million in Q3 2023. Management noted stable conditions at trough levels in core construction and industrial markets, expecting these conditions to persist through Q4.
Huntsman (NYSE: HUN) has announced its upcoming third quarter 2024 financial results conference call, scheduled for Tuesday, November 5, 2024, at 10:00 a.m. ET. The company will release its earnings press release, including financial statements and segment information, after market close on Monday, November 4, 2024. Investors can access the earnings slide presentation and prepared remarks on Huntsman's investor relations website after market close on November 4.
The conference call will be accessible via a webcast link and the company's investor relations website. Participants can join using the provided dial-in numbers: (877) 402-8037 for domestic callers and (201) 378-4913 for international callers. A webcast replay will be available on Huntsman's website following the conclusion of the call.
ISN, the global leader in contractor and supplier information management services, has announced that Huntsman (NYSE: HUN) has chosen ISNetworld as its primary contractor information management platform. This partnership aims to enhance all aspects of Huntsman's contractor management processes. Additionally, Huntsman will utilize CultureSight®, an anonymous electronic survey administered by ISN's consulting arm, Monarch®, to assess employee and contractor perceptions of safety culture values.
Huntsman, a Texas-based global chemicals company, emphasizes its commitment to safety, honesty, and ethics. The company works in partnership with customers to create solutions for various consumer and industrial end markets, including aerospace, automotive, building and construction, and energy. Through this collaboration, ISN will support Huntsman in reinforcing its safety culture and ensuring contractors meet the highest standards.
Huntsman (NYSE: HUN) announced that its subsidiary, Huntsman International , has priced an offering of $350 million in Senior Notes due 2034. The notes will be offered at 99.640% of their principal amount with an interest rate of 5.700% per annum. The offering is expected to close on September 26, 2024, subject to customary conditions.
The company plans to use the net proceeds for general corporate purposes, including debt repayment. Several financial institutions are acting as joint book-running managers, senior co-managers, and co-manager for the offering. The offering is made under an effective shelf registration statement filed with the SEC on August 9, 2024.
Huntsman (NYSE: HUN) announced its second quarter 2024 earnings. Key metrics include revenues of $1,574 million, a slight decrease from $1,596 million in Q2 2023. Net income attributable to Huntsman was $22 million, up from $19 million the previous year. Diluted income per share was $0.13 versus $0.11 in Q2 2023. Adjusted net income was $24 million, down from $39 million, and adjusted EBITDA was $131 million, down from $156 million in Q2 2023.
For Q2 2024, net cash provided by operating activities was $55 million with free cash flow of $5 million, an improvement from a cash usage of $11 million in the same period last year. Huntsman’s CEO, Peter R. Huntsman, highlighted a $50 million adjusted EBITDA improvement over the first quarter and a 9% year-over-year increase in sales volumes.
Segment analysis showed revenue decreases in Polyurethanes, Performance Products, and Advanced Materials due to lower average selling prices, offset by higher sales volumes. The company expects moderate economic activity in the near term but remains focused on cost control, cash flow, and capital allocation.
Huntsman (NYSE: HUN) has announced a quarterly cash dividend of $0.25 per share on its common stock. The dividend will be payable on September 30, 2024, to stockholders of record as of September 13, 2024. This announcement demonstrates Huntsman's commitment to returning value to its shareholders through regular dividend payments. The company's Board of Directors approved this dividend, reflecting confidence in Huntsman's financial stability and cash flow generation capabilities.
Huntsman (NYSE: HUN) has appointed Jan Buberl as the new President of the Performance Products Division, effective August 1, 2024. Buberl brings extensive global experience to the role, having served as Vice President of Huntsman Polyurethanes, Americas for the past five years and as a director of Huntsman's Chinese PO/MTBE joint venture with Sinopec. His background includes previous work at Venator and a 16-year tenure at BASF, where he held various global roles, including leading BASF's North America corporate strategy development.
Peter Huntsman, Chairman, President, and CEO of Huntsman , expressed enthusiasm for Buberl joining the executive leadership team, citing his deep experience and track record of success. Buberl holds a master's degree in international marketing from the University of Ludwigshafen, Germany, and an MBA from the University of North Carolina at Greensboro.
Huntsman (NYSE: HUN) will discuss its Q2 2024 financial results on August 6, 2024, at 10:00 a.m. ET via a conference call.
The earnings release, including financial statements and segment information, will be published after market close on August 5, 2024.
A webcast link and dial-in numbers for the call are provided, with a replay available on Huntsman's investor relations website post-call.
Huntsman (NYSE: HUN) inaugurated a new innovation center in Tienen, Belgium on June 13, 2024. The 11,000-square-meter facility includes state-of-the-art laboratories, machine halls, and automated testing facilities, enhancing Huntsman’s R&D capabilities. Housing over 100 scientists, the center will support the Polyurethanes and Performance Products businesses, focusing on key markets like automotive and energy. The event featured speeches from CEO Peter Huntsman and Polyurethanes President Tony Hankins, who emphasized the center's role in fostering innovation and sustainability. Huntsman aims to leverage this facility to advance its technologies and address sustainability challenges.
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