The new 11,000-square-meter facility includes a world-scale analytical laboratory, two machine halls and fully equipped and automated product testing areas. Together, these assets strengthen Huntsman's ability to complete the whole product innovation path, from the development of original ideas at lab scale to the production of novel systems and samples ready for customer testing. Huntsman has a rich legacy of innovation in Belgium. This center displays its ongoing dedication to researching new ideas and tr ...

Core Insights - Huntsman Corporation officially opened a new innovation center in Tienen, Belgium, on June 13, 2024, enhancing its research and development capabilities and commitment to customers in the region [6][8] - The new facility spans 11,000 square meters and includes a world-scale analytical laboratory, two machine halls, and fully equipped automated product testing facilities, facilitating the entire product innovation journey [7][9] - Huntsman is a leading global provider of innovative chemistries, with its Polyurethanes division serving over 3,000 customers in more than 90 countries, and the Performance Products division offering over 800 products to more than 1,000 customers globally [2][9] Company Overview - Huntsman Corporation reported approximately $6 billion in revenues for 2023 and operates over 60 manufacturing, R&D, and operations facilities across approximately 25 countries, employing around 6,000 associates [9] - The company focuses on addressing sustainability challenges through its innovative chemical products, which are critical for various consumer and industrial end markets [2][9]

Let's find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment. Huntsman Corporation (HUN) is poised to benefit from its investment in downstream businesses and differentiated product innovation as well as strategic acquisitions amid headwinds from soft demand in certain markets and pricing pressure. The company's shares are up 1.5% over the past year compared with a 6% rise of its industry. Downstream Expansion & Cost Synergies Aid HUN Huntsman remains focused on growing its downstream ...

Core Insights - Huntsman Corporation has released its 2023 corporate sustainability report titled "Solutions for Sustainability," showcasing its commitment to addressing sustainability challenges through innovative products [1][2]. Company Overview - Huntsman Corporation is a global specialty chemicals company headquartered in The Woodlands, Texas, with over 6,000 employees across nearly 60 facilities in 25 countries [4]. - The company produces approximately 6,000 products serving diverse markets, including aerospace, transportation, building and construction, consumer goods, energy and fuels, and food preservation [4]. Sustainability Efforts - The report highlights Huntsman's energy-saving solutions, including insulation products for buildings and lightweight materials for vehicles, aimed at reducing greenhouse gas emissions [2]. - Huntsman has made collective progress of 60% towards its near-term Horizon 2025 sustainability targets [5]. - The company has published 25 product safety summaries and reported reductions in total waste intensity and water consumption intensity in areas of water stress [5]. Reporting Standards - Huntsman discloses its sustainability efforts in accordance with the Task Force on Climate-related Financial Disclosures (TCFD), Global Reporting Initiative (GRI), and Sustainability Accounting Standards Board (SASB) frameworks [3]. - Third-party limited assurance has been provided for operational greenhouse gas emissions (Scope 1 and Scope 2) and water consumption [3].

Huntsman Corporation (HUN) logged a first-quarter 2024 net loss of $37 million or 22 cents per share. This compares to a profit of $153 million or 83 cents in the year-ago quarter.Barring one-time items, adjusted loss per share came in at 6 cents p for the reported quarter. It was narrower than the Zacks Consensus Estimate of a loss of 8 cents.Revenues were $1,470 million, down around 8% year over year. The top line missed the Zacks Consensus Estimate of $1,476.5 million. HUN witnessed lower sales across it ...

Financial Data and Key Metrics Changes - The company reported modest gains in volume during Q1 2024, attributed to new business, demand growth, and inventory restocking, with a 50-50 split between inventory rebuilding and demand improvement [16] - The company aims to recover lost volumes and return to normalized earnings as quickly as possible, with a focus on cost management and pricing discipline [4][16] Business Line Data and Key Metrics Changes - Polyurethanes in North America saw a significant volume increase of 25%, while Europe experienced a 9% increase, indicating recovery but still below normal levels [42] - The spray foam business grew nearly 10% year-over-year, driven by new housing builds, despite competitive pressures [20] - The Advanced Materials segment grew by 6% overall year-on-year, with notable growth in aerospace and automotive applications [68] Market Data and Key Metrics Changes - The company noted that the industry is currently operating at mid-80% capacity utilization, with North America exceeding 100% and Europe in the high-80% range [21][23] - The Chinese automotive market remains a strong growth area, although export challenges persist [6] Company Strategy and Development Direction - The company is focused on maximizing asset value and capital deployment for growth, continuously assessing its portfolio [17] - There is an emphasis on innovation and energy conservation in Europe, with a recognition of the competitive landscape and the need for strategic positioning [45][56] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about a slow but steady recovery in demand and pricing, particularly in North America and Europe [40][126] - The company anticipates that higher volumes and pricing will be necessary to return to normalized EBITDA margins in the mid-teens [77] Other Important Information - The liquidation of the SLIC joint venture is expected to have minimal impact on net income and cash flow, with approximately $200 million of cash being trapped until 2025 [22] - The company is not planning on share buybacks in the near term, focusing instead on operational improvements and market recovery [60] Q&A Session Summary Question: What are the expectations for polyurethanes EBITDA improvement in the back half of the year? - Management indicated that improvements are expected based on current conditions, with a focus on volume growth [11] Question: How are housing starts impacting the business? - Management noted that while housing starts have improved, the benefits are just beginning to flow through the business [11] Question: Can you comment on the liquidation of the SLIC joint venture? - The liquidation process is expected to last into 2025, with minimal impact on net income and cash flow [22] Question: What are the current industry operating rates for polyurethanes? - Current operating rates are around 85%, with pricing leverage typically occurring at mid-80% utilization [23] Question: What is the outlook for MDI pricing and margins? - MDI pricing is currently flat across regions, with expectations for modest improvements as demand increases [35][38] Question: How does the company view the competitive landscape in Europe? - The company recognizes the challenges in Europe but sees opportunities in innovation and higher-margin applications [45][56] Question: What is the expected trajectory for volume growth in the coming quarters? - Management expects stronger than average growth in Europe and the Americas, with a focus on quarter-on-quarter improvements [42][62]

2 Earnings Summary Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=tHuNeZ2X Enriching lives through innovati Forward-Looking Statements Non-GAAP Financial Measures The Company does not provide reconciliations of forward-looking non-GAAP financial measures to the most comparable GAAP financial measures on a forward-looking basis because the Company is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available wit ...

[PART I FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements and management's analysis for Q1 2024 [Condensed Consolidated Financial Statements (Unaudited)](index=5&type=section&id=ITEM%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for Huntsman Corporation and its subsidiary for Q1 2024 [Huntsman Corporation and Subsidiaries Financial Statements](index=5&type=section&id=Huntsman%20Corporation%20and%20Subsidiaries%20Financial%20Statements) Huntsman Corporation reported a net loss of $23 million in Q1 2024, with revenues of $1,470 million and diluted loss per share of $0.22 Huntsman Corporation - Consolidated Statement of Operations (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | Change | | :--- | :--- | :--- | :--- | | **Total Revenues** | $1,470 | $1,606 | -8.5% | | **Gross Profit** | $201 | $269 | -25.3% | | **Operating (Loss) Income** | $(38) | $61 | NM | | **(Loss) Income from Continuing Operations** | $(16) | $44 | NM | | **Net (Loss) Income** | $(23) | $166 | NM | | **Net (Loss) Income Attributable to Huntsman** | $(37) | $153 | NM | | **Diluted (Loss) Income per Share** | $(0.22) | $0.83 | NM | Huntsman Corporation - Consolidated Balance Sheet Highlights | Metric | March 31, 2024 (Millions) | Dec 31, 2023 (Millions) | | :--- | :--- | :--- | | **Total Current Assets** | $2,443 | $2,314 | | **Total Assets** | $7,572 | $7,248 | | **Total Current Liabilities** | $1,579 | $1,172 | | **Total Liabilities** | $4,178 | $3,770 | | **Total Equity** | $3,394 | $3,478 | Huntsman Corporation - Consolidated Cash Flow Summary (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | | :--- | :--- | :--- | | **Net Cash Used in Operating Activities** | $(65) | $(154) | | **Net Cash (Used in) Provided by Investing Activities** | $(30) | $489 | | **Net Cash Provided by (Used in) Financing Activities** | $108 | $(379) | | **Increase (Decrease) in Cash** | $12 | $(39) | [Huntsman International LLC and Subsidiaries Financial Statements](index=12&type=section&id=Huntsman%20International%20LLC%20and%20Subsidiaries%20Financial%20Statements) Huntsman International LLC reported a net loss of $21 million in Q1 2024, with total revenues of $1,470 million, mirroring consolidated performance Huntsman International LLC - Statement of Operations (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | | :--- | :--- | :--- | | **Total Revenues** | $1,470 | $1,606 | | **Gross Profit** | $201 | $269 | | **Operating (Loss) Income** | $(36) | $63 | | **Net (Loss) Income** | $(21) | $168 | Huntsman International LLC - Balance Sheet Highlights | Metric | March 31, 2024 (Millions) | Dec 31, 2023 (Millions) | | :--- | :--- | :--- | | **Total Assets** | $7,577 | $7,253 | | **Total Liabilities** | $4,174 | $3,762 | | **Total Equity** | $3,403 | $3,491 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=17&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) These notes detail significant Q1 2024 events, including the SLIC joint venture asset acquisition, Textile Effects sale, restructuring, and debt structure - On January 31, 2024, the company completed the separation and acquisition of assets from its SLIC joint venture, resulting in a preliminary net bargain purchase gain of approximately **$52 million** and a write-off of certain prepaid assets of approximately **$71 million**[51](index=51&type=chunk)[52](index=52&type=chunk) - In Q1 2024, the purchase price for the sale of the Textile Effects Business was finalized at **$597 million**, with a net charge of approximately **$8 million** recorded for post-closing obligations[54](index=54&type=chunk) - The company recorded net restructuring expenses of **$11 million** in Q1 2024, primarily related to a new program in the Advanced Materials segment and ongoing European cost realignment efforts[62](index=62&type=chunk)[63](index=63&type=chunk)[64](index=64&type=chunk) Total Debt Composition (as of March 31, 2024) | Debt Instrument | Amount Outstanding (Millions) | | :--- | :--- | | Revolving facility | $195 | | Senior notes | $1,463 | | A/R programs | $163 | | Note payable (SLIC) | $190 | | Other | $45 | | **Total Debt** | **$2,056** | - The company amended its U.S. and EU A/R Programs in January 2024, extending their maturity dates to January 2027 and July 2027, respectively[77](index=77&type=chunk) - The Board of Directors has authorized a **$2 billion** share repurchase program, of which approximately **$547 million** remained available as of March 31, 2024, with no shares repurchased in Q1 2024[97](index=97&type=chunk)[182](index=182&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=44&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial results, noting an 8% revenue decrease and a 40% adjusted EBITDA drop, driven by lower selling prices [Results of Operations](index=44&type=section&id=Results%20of%20Operations) Huntsman's Q1 2024 revenues decreased 8% to $1,470 million, with a 25% gross profit decline and a 40% adjusted EBITDA drop to $81 million Huntsman Corporation - Key Financial Results (Q1 2024 vs Q1 2023) | Metric | Q1 2024 (Millions) | Q1 2023 (Millions) | % Change | | :--- | :--- | :--- | :--- | | **Revenues** | $1,470 | $1,606 | (8)% | | **Gross Profit** | $201 | $269 | (25)% | | **Operating (Loss) Income** | $(38) | $61 | NM | | **Adjusted EBITDA** | $81 | $136 | (40)% | - The decrease in revenue was primarily due to lower average selling prices across all segments, partially offset by higher sales volumes in the Polyurethanes and Performance Products segments[163](index=163&type=chunk) - Q1 2024 results include a **$52 million** gain on the acquisition of SLIC assets and a concurrent **$71 million** write-off of related prepaid assets[163](index=163&type=chunk) [Segment Analysis](index=51&type=section&id=Segment%20Analysis) All three segments experienced revenue and adjusted EBITDA declines in Q1 2024, driven by lower selling prices and volumes Segment Revenues and Adjusted EBITDA (Q1 2024 vs Q1 2023) | Segment | Revenues Q1 2024 (Millions) | Revenues Q1 2023 (Millions) | Adj. EBITDA Q1 2024 (Millions) | Adj. EBITDA Q1 2023 (Millions) | | :--- | :--- | :--- | :--- | :--- | | **Polyurethanes** | $926 | $991 | $39 | $66 | | **Performance Products** | $291 | $334 | $42 | $71 | | **Advanced Materials** | $261 | $289 | $43 | $48 | - **Polyurethanes:** Revenue decreased **7%** due to a **16%** drop in average selling prices, partially offset by a **9%** increase in sales volumes[165](index=165&type=chunk)[167](index=167&type=chunk) - **Performance Products:** Revenue fell **13%** as average selling prices declined **17%**, despite a **4%** rise in sales volumes[165](index=165&type=chunk)[168](index=168&type=chunk) - **Advanced Materials:** Revenue declined **10%** due to a **6%** decrease in average selling prices and a **4%** drop in sales volumes[165](index=165&type=chunk)[169](index=169&type=chunk) [Liquidity and Capital Resources](index=53&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2024, Huntsman reported total liquidity of $1,607 million, with improved operating cash flow and planned 2024 capital expenditures of $200 million - Total liquidity as of March 31, 2024, was **$1,607 million**, comprising **$552 million** in cash, **$995 million** available under the revolving credit facility, and **$60 million** under A/R Programs[180](index=180&type=chunk) - Net cash used in operating activities from continuing operations was **$63 million**, an improvement from **$122 million** in the prior-year period, primarily due to favorable changes in operating assets and liabilities[173](index=173&type=chunk) - The company plans to spend approximately **$200 million** on capital expenditures in 2024[182](index=182&type=chunk) - The company expects to pay the remainder of the note payable related to the SLIC asset acquisition by the end of 2024 using available funds at its HPS joint venture[182](index=182&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rates, foreign exchange rates, and commodity prices, which it manages using derivative instruments and hedging strategies - Huntsman is exposed to market risks from interest rates, foreign exchange rates, and commodity prices[188](index=188&type=chunk) - The company uses derivative instruments from time to time to manage these exposures and hedges its net investment in some European operations[188](index=188&type=chunk) [Controls and Procedures](index=57&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting - Based on an evaluation as of March 31, 2024, the CEO and CFO concluded that the company's disclosure controls and procedures were effective[189](index=189&type=chunk) - There were no changes to internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[190](index=190&type=chunk) [PART II OTHER INFORMATION](index=58&type=section&id=PART%20II%20OTHER%20INFORMATION) This section covers other information including legal proceedings, risk factors, equity security sales, and exhibits for the reporting period [Legal Proceedings](index=58&type=section&id=ITEM%201.%20Legal%20Proceedings) No material developments in legal proceedings have occurred since the 2023 Annual Report on Form 10-K - No material developments have occurred in legal proceedings since the 2023 Annual Report on Form 10-K[192](index=192&type=chunk) [Risk Factors](index=58&type=section&id=ITEM%201A.%20Risk%20Factors) This section refers to the risk factors detailed in the 2023 Annual Report on Form 10-K, with no material changes noted - For information on risk factors, the report refers to the 'Part I. Item 1A. Risk Factors' section of the Annual Report on Form 10-K for the year ended December 31, 2023[193](index=193&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=58&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Huntsman did not repurchase shares in Q1 2024, with **$547 million** remaining available under the **$2 billion** share repurchase program - The company did not repurchase any shares of its common stock during the three months ended March 31, 2024[196](index=196&type=chunk) - Approximately **$547 million** remains available for repurchase under the company's **$2 billion** share repurchase program authorization[195](index=195&type=chunk) [Exhibits](index=59&type=section&id=ITEM%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and XBRL data files - Lists exhibits filed with the report, including CEO/CFO certifications and XBRL documents[199](index=199&type=chunk)

Exhibit 99.1 News Release FOR IMMEDIATE RELEASE Media: Investor Relations: May 2, 2024 Kevin Gundersen Ivan Marcuse The Woodlands, TX (281) 719-4627 (281) 719-4637 NYSE: HUN Huntsman Announces First Quarter 2024 Earnings First Quarter Highlights | | | | Three months ended | | | --- | --- | --- | --- | --- | | | | | March 31, | | | In millions, except per share amounts | | 2024 | | 2023 | | Revenues | $ | 1,470 | $ | 1,606 | | Net (loss) income attributable to Huntsman Corporation | $ | (37) | $ | 153 | | Ad ...

Huntsman Corporation (HUN) is expected to gain from its investment in downstream businesses and differentiated product innovation as well as strategic acquisitions amid headwinds from demand weakness and pricing pressure.The company’s shares are down 3.8% over the past year, compared with a 5.4% decline of its industry. Image Source: Zacks Investment ResearchLet’s find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment. Downstream Expansion & Cost Synergies Aid HUNHuntsman remains focu ...