Welcome to our dedicated page for Huntsman Corporation news (Ticker: HUN), a resource for investors and traders seeking the latest updates and insights on Huntsman Corporation stock.
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 Corporation (NYSE: HUN) has announced a conference call scheduled for May 5, 2023, at 10:00 a.m. ET to discuss its first quarter 2023 financial results, which will be released at approximately 6:00 a.m. ET on the same day. The call will be accessible via a webcast link, and participants can dial in using provided phone numbers for domestic and international callers.
The company reported revenues of approximately $8 billion in 2022 and operates over 60 manufacturing and R&D facilities globally, employing around 7,000 associates.
Huntsman Corporation (NYSE: HUN) has finalized the sale of its Textile Effects division to Archroma for $593 million in cash, along with assumed pension liabilities. The net after-tax cash proceeds are estimated to be approximately $540 million, subject to standard closure adjustments. This strategic divestiture allows Huntsman to focus on its core operations in specialty chemicals, which generated revenues of about $8 billion in 2022. The transaction is aligned with the company’s ongoing efforts to optimize its portfolio and enhance operational efficiency.
Huntsman Corporation (NYSE: HUN) reported a net loss of $91 million for Q4 2022, contrasting sharply with a net income of $597 million in Q4 2021. The diluted loss per share was $0.48, down from earnings of $2.73 last year. Adjusted net income fell to $8 million, with an adjusted diluted EPS of $0.04. Revenues dropped to $1.65 billion from $2.11 billion year-on-year. The company anticipates a stronger performance in 2023 as destocking ends and highlights successful cost reduction initiatives. Huntsman is finalizing a $540 million sale of its Textile Effects division, expected to close on February 28, 2023.
Huntsman Corporation (NYSE: HUN) announced a $0.2375 per share cash dividend, reflecting a 12% increase from the prior dividend. The dividend is payable on March 31, 2023 to shareholders recorded as of March 15, 2023.
The company also scheduled its 2023 Annual Meeting of Stockholders for April 21, 2023, at 9:00 AM Central Time. Shareholders of record as of February 27, 2023 can vote.
Executive VP and CFO Phil Lister highlighted the company’s strong balance sheet and expected proceeds from the sale of Textile Effects, reinforcing its commitment to shareholder value.
Huntsman Corporation (NYSE: HUN) has received all regulatory approvals necessary to finalize the sale of its Textile Effects division to Archroma, expected to close on February 28, 2023. The sale price is $593 million in cash, along with assumed pension liabilities. Huntsman anticipates net cash proceeds of approximately $540 million after tax and customary adjustments. CEO Peter Huntsman expressed gratitude towards the employees for their dedication in bringing the deal to completion. This transaction aims to create a leading textile chemicals and dyes company.
Huntsman Corporation (NYSE: HUN) has scheduled a conference call for February 21, 2023, at 10:00 a.m. ET to discuss its fourth quarter 2022 financial results, which will be available earlier that morning at 6:00 a.m. ET. Interested parties can access the call via webcast and find accompanying presentation slides on Huntsman's investor relations website. Huntsman is a leading global manufacturer of specialty chemicals, with approximately $8 billion in revenues for 2021 and operations in 30 countries.
Huntsman Corporation (NYSE: HUN) declared a $0.2125 per share cash dividend on its common stock, payable on December 30, 2022, to stockholders of record as of December 15, 2022. In 2021, Huntsman generated approximately $8 billion in revenues, operating over 70 facilities across 30 countries with around 9,000 employees. This dividend announcement reflects the company's ongoing commitment to returning value to shareholders.
Huntsman Corporation (NYSE: HUN) reported third quarter 2022 results with revenues of $2,011 million, down 4% from the previous year. Net income decreased to $115 million, or $0.50 per diluted share. Adjusted net income was $141 million, with an adjusted EBITDA of $271 million. Free cash flow improved significantly to $228 million. The company plans to sell its Textile Effects division for $718 million and has expanded cost improvement initiatives to $280 million in response to rising energy costs in Europe. Overall, the business environment remains challenging, particularly in Europe.
Huntsman Corporation (NYSE: HUN) will hold a conference call on November 4, 2022, at 8:00 a.m. ET to discuss its third-quarter 2022 financial results, releasing them at 6:00 a.m. ET. Domestic callers can join at (877) 402-8037 while international callers can use (201) 378-4913. The call will feature presentation slides available through the webcast and on Huntsman's investor relations website. The company, a global manufacturer of specialty chemicals, reported approximately $8 billion in revenues for 2021.
Huntsman (NYSE: HUN) provided an update during its second quarter earnings call, forecasting third quarter adjusted EBITDA between $310 million and $355 million, excluding Textile Effects. Adjusted EBITDA from continuing operations is expected to be between $260 million and $280 million. The company is facing challenges due to high energy costs in Europe, lower demand in key segments, and sluggish economic conditions in China. Nevertheless, Huntsman anticipates achieving approximately $170 million in annualized cost savings by year-end.
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