Huntsman Corporation - HUN STOCK NEWS

Huntsman Corporation (NYSE: HUN) will conduct a conference call on October 29, 2021, at 10:00 a.m. ET to discuss its third quarter financial results, which will be released at 6:00 a.m. ET on the same day. The call will provide insights into its financial performance and future outlook. Investors can access the call via a provided webcast. Huntsman is a global manufacturer in the specialty chemicals sector, with revenues near $6 billion for 2020.

KPX Chemical and Huntsman Corporation announced a joint venture named KPX HUNTSMAN POLYURETHANES AUTOMOTIVE CO., LTD. (KHPUA) on Sept. 28, 2021. This collaboration aims to deliver innovative polyurethane solutions to Korean automakers from KPX's Ulsan facility, with operations expected to start by the end of October. The venture leverages KPX's 47 years of experience and Huntsman's expertise in MDI-based solutions to meet the evolving needs of the automotive industry, particularly for lightweight and eco-friendly materials.

Huntsman Corporation (NYSE: HUN) announced a natural gas surcharge of Euros 125 per tonne on MDI sales in Europe, Africa, the Middle East, and India, effective October 1, 2021. This decision is in response to unprecedented natural gas price increases that have exceeded historic levels, impacting production costs significantly. The surcharge is in addition to existing MDI price hikes. President of Polyurethanes, Tony Hankins, stated the company is working with customers to manage this impact.

Huntsman Corporation (HUN) reported that Hurricane Ida did not significantly damage its Geismar, Louisiana manufacturing facility. Operations were safely shut down prior to the hurricane's arrival, and preparations for a gradual restart are underway. The company expects that any EBITDA impacts from the hurricane will be mitigated by strong performance in its Performance Products division and MDI markets in Europe and Asia. The anticipated production resumption timeline is this weekend, with increased rates expected next week.

On August 2, 2021, Huntsman Corporation (NYSE: HUN) declared a cash dividend of $0.1875 per share on its common stock. The dividend will be paid on September 30, 2021, to stockholders of record as of September 15, 2021. Huntsman reported approximately $6 billion in revenues for 2020 and operates over 70 facilities globally, employing around 9,000 associates across four business divisions.

Huntsman Corporation reported a robust second quarter in 2021 with revenue of $2,024 million, sharply up from $1,247 million year-on-year. The company posted a net income of $172 million compared to a net loss of $59 million in the previous year. Adjusted EBITDA surged to $334 million, significantly higher than $54 million in Q2 2020. Despite challenges, Huntsman maintained a strong balance sheet with $1.9 billion in liquidity and a net leverage of 1.0x. Noteworthy is the reduction in annual cash interest expenses by $9 million following the refinancing of debt.

Huntsman Corporation (NYSE: HUN) will host a conference call on July 30, 2021, at 10:00 a.m. ET to review its Q2 2021 financial results, which will be available at 6:00 a.m. ET that day. Participants can join by dialing (877) 402-8037 for domestic callers or (201) 378-4913 for international callers. The call will feature presentation slides accessible via the webcast link. Huntsman reported revenues of approximately $6 billion in 2020, operates over 70 facilities worldwide, and employs around 9,000 associates.

Huntsman Corporation (NYSE: HUN) announced plans to expand its ULTRAPURE™ Ethylene Carbonate production capacity at its Conroe, Texas facility by mid-2023. This expansion responds to rising demand in the lithium-ion battery market, crucial for electric vehicles (EVs) and electronics. Huntsman is the only US producer of cyclic carbonates and has seen significant growth in this sector. The company aims to support the expanding US and European markets while enhancing service to its customers and contributing to reduced emissions in transportation.

Huntsman Corporation (NYSE: HUN) has appointed Phil Lister as the new Executive Vice President and Chief Financial Officer, effective July 1, 2021. Lister, a 25-year veteran of the company, succeeds Sean Douglas, who has transitioned to a full-time role with The Church of Jesus Christ of Latter-day Saints. In his previous role as VP of Corporate Development, Lister oversaw transactions worth over $3.5 billion, enhancing the company's portfolio and focus on specialty businesses. This leadership change aims to bolster Huntsman's strategy for organic and acquisition-driven growth.