Core Insights - Huntsman reported a net income of $22 million or 13 cents per share for Q2 2024, an increase from $19 million or 11 cents in the same quarter last year, with adjusted earnings per share at 14 cents, surpassing the Zacks Consensus Estimate of 12 cents [2][3] - Revenues for the quarter were $1,574 million, down approximately 1% year-over-year, and missed the Zacks Consensus Estimate of $1,619.9 million [3] Segment Highlights - **Polyurethanes**: Revenues decreased by 1% year-over-year to $1,001 million, below the estimate of $1,074.2 million, primarily due to lower average selling prices of MDI, although higher sales volume partially offset this decline [4] - **Performance Products**: Revenues fell by 3% to $299 million, below the estimate of $307.3 million, driven by lower average selling prices due to competitive pressures, despite increased sales volumes from improved industrial activity [5] - **Advanced Materials**: Revenues dropped by 2% to $279 million, exceeding the estimate of $266.3 million, with increased sales volume in aerospace and infrastructure markets, although impacted by an unfavorable sales mix [6] Financials - Huntsman ended the quarter with cash of $335 million, a decrease of 33% year-over-year, while long-term debt was $1,344 million, down 14% year-over-year [7] - Net cash provided by operating activities was $55 million, with free cash flow from continuing operations at $5 million [7] Outlook - The company experienced a 9% year-over-year increase in sales volumes in Q2 2024 and anticipates continued favorable growth comparisons in the second half of the year, although no significant changes in global economic activity are expected for the remainder of Q3 [8] - Huntsman aims to focus on cost control, cash flow management, and increasing sales volumes compared to 2023 levels, supported by a robust balance sheet and a disciplined capital allocation strategy [9] Estimate Trends - There has been a downward trend in estimates, with the consensus estimate shifting down by 33.6% [10] - Huntsman currently holds a Zacks Rank 3 (Hold), indicating an expectation of an in-line return from the stock in the coming months [12] Industry Performance - Huntsman is part of the Zacks Chemical - Diversified industry, where Eastman Chemical reported a revenue increase of 1.7% year-over-year to $2.36 billion, with an EPS of $2.15 compared to $1.99 a year ago [13] - Eastman Chemical is expected to post earnings of $2.12 per share for the current quarter, reflecting a year-over-year change of +44.2% [14]

Huntsman Corporation (HUN) benefits from actions to grow its downstream businesses, differentiated product innovation, strategic acquisitions and cost actions amid headwinds from demand softness and pricing pressure. HUN's shares have lost 21.6% over a year compared with a 6% decline of its industry. Zacks Investment Research Image Source: Zacks Investment Research Downstream Expansion & Cost Synergies Aid HUN Huntsman, a Zacks Rank #3 (Hold) stock, remains focused on growing its downstream specialty and fo ...

Huntsman Corporation (HUN) is expected to benefit from its investment in downstream businesses, differentiated product innovation, strategic acquisitions and cost actions amid headwinds from soft demand in certain markets and pricing pressure. HUN's shares have lost 23% over the past year compared with a 6.5% decline of its industry. Image Source: Zacks Investment Research Let's find out why this Zacks Rank #3 (Hold) stock is worth retaining at the moment. HUN Gains on Downstream Expansion & Cost Synergies ...

Huntsman Corporation (HUN) logged a second-quarter 2024 net income of $22 million or 13 cents per share, up from a net income of $19 million or 11 cents in the year-ago quarter. Barring one-time items, adjusted earnings per share came in at 14 cents in the reported quarter. The figure was higher than the Zacks Consensus Estimate of 12 cents. Revenues amounted to $1,574 million, down around 1% year over year. The top line missed the Zacks Consensus Estimate of $1,619.9 million. Segment Highlights Polyurethan ...

Financial Performance - Second quarter 2024 net income attributable to Huntsman was $22 million, an increase from $19 million in the prior year period, with diluted income per share rising to $0.13 from $0.11[2][4] - Adjusted net income for the second quarter 2024 was $24 million, down from $39 million in the prior year, with adjusted diluted income per share decreasing to $0.14 from $0.22[2][4] - Second quarter 2024 adjusted EBITDA was $131 million, compared to $156 million in the same period last year, reflecting a decrease of 16%[2][4] - Revenues for the second quarter 2024 were $1,574 million, slightly down from $1,596 million in the prior year, marking a 1.4% decline[3][4] - Total revenues for the three months ended June 30, 2024, were $1,574 million, a decrease of 1% compared to $1,596 million for the same period in 2023[14] - Adjusted EBITDA for the three months ended June 30, 2024, was $131 million, down 16% from $156 million in the same period last year[14] - The company reported a net income of $38 million for the three months ended June 30, 2024, compared to $31 million in the same period last year[18] - The company experienced a 4% decrease in total revenues for the six months ended June 30, 2024, compared to the same period in 2023[14] Segment Performance - The Polyurethanes segment saw a decrease in revenues primarily due to lower MDI average selling prices, despite higher sales volumes[5] - The Performance Products segment experienced a revenue decline due to lower average selling prices, although sales volumes increased due to improved industrial activity[6] - Polyurethanes segment revenues decreased by 1% to $1,001 million for the three months ended June 30, 2024, compared to $1,012 million in 2023[14] - Performance Products segment revenues fell by 3% to $299 million for the three months ended June 30, 2024, down from $307 million in the prior year[14] - Advanced Materials segment revenues decreased by 2% to $279 million for the three months ended June 30, 2024, compared to $284 million in 2023[14] - Total adjusted EBITDA for the six months ended June 30, 2024, was $212 million, a decline of 27% from $292 million in the same period of 2023[14] Cash Flow and Capital Expenditures - Free cash flow from continuing operations was $5 million for the second quarter 2024, a significant improvement from a cash use of $11 million in the prior year[3][10] - Free cash flow from continuing operations was $5 million for the three months ended June 2024, compared to a negative $11 million for the same period in 2023[25] - Net cash provided by operating activities from continuing operations was $55 million for the three months ended June 2024, up from $40 million in the prior year[25] - The company expects to spend between $180 million to $200 million on capital expenditures in 2024, with $50 million spent in the second quarter 2024[10] Tax and Effective Rates - The effective tax rate for the second quarter 2024 was 30%, with an expected adjusted effective tax rate for 2024 of approximately 30% to 34%[11] - The adjusted effective tax rate for the three months ended June 30, 2024, was 23%, down from 39% in the same period of 2023[19] - Adjusted pre-tax income was reported at $59.145 million with an effective tax rate of 27%[20] Assets and Liabilities - Total assets increased to $7.317 billion as of June 30, 2024, compared to $7.248 billion at December 31, 2023[22] - Cash decreased from $540 million at December 31, 2023, to $335 million by June 30, 2024[22] - Total debt, excluding affiliates, rose to $1.920 billion from $1.688 billion[23] - The company reported a net debt of $1.585 billion, an increase from $1.148 billion[23] Company Overview and Risks - Huntsman Corporation's revenues for 2023 were approximately $6 billion from continuing operations[35] - The company operates over 60 manufacturing and R&D facilities across approximately 25 countries[35] - Huntsman Corporation employs around 6,000 associates within its continuing operations[35] - Significant risks include high energy costs in Europe, inflation, geopolitical instability, and volatile global economic conditions[37] - The company emphasizes that forward-looking statements are based on current expectations and various assumptions, which may involve risks and uncertainties[37] - The company does not undertake any obligation to update or revise forward-looking statements after the date made[37] - The company highlights potential disruptions in production and the impact of restructuring on operations and cost savings[37] - Forward-looking statements should be considered in light of the risks outlined in the Annual Report on Form 10-K for the year ended December 31, 2023[37]

THE WOODLANDS, Texas, Aug. 5, 2024 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today that its Board of Directors has declared a $0.25 per share cash dividend on its common stock. The dividend is payable on September 30, 2024, to stockholders of record as of September 13, 2024. About Huntsman: Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2023 revenues of approximately $6 billion. Our chemical products number in the th ...

The earnings report, which is expected to be released on August 5, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. Revenues are expected to be $1.62 billion, up 1.5% from the year-ago quarter. Earnings Whisper A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combinatio ...

The earnings press release, including financial statements and segment information, will be distributed after the market closes on Monday, August 5, 2024. The earnings slide presentation and prepared remarks will be available at www.huntsman.com/investors after the market closes on Monday, August 5, 2024. THE WOODLANDS, Texas, July 10, 2024 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) will hold a conference call on Tuesday, August 6, 2024, at 10:00 a.m. ET to discuss its second quarter 2024 financial re ...

Core Viewpoint - The company is experiencing a cyclical decline in sales and EBITDA, but there are signs of stabilization and potential for recovery in the long term, particularly with a diversified product portfolio that caters to both discretionary and non-discretionary sectors [2][5][24]. Group 1: Company Performance - The company's revenues have declined by 31% from 2014 to 2022, while gross profits decreased by only 20%, indicating a 270 basis points improvement in gross margin [8]. - The management has expressed caution regarding the sustainability of any performance improvements, emphasizing the importance of maintaining an investment-grade rating over short-term gains [3][6]. - The company has seen a significant reduction in full-time employees, down 63% from 16,000 in 2014 to 6,000, alongside stagnant machinery value on the balance sheet [5]. Group 2: Market and Economic Conditions - The company operates in various industries, including automotive, aerospace, and construction, which helps stabilize demand during economic downturns [2]. - Despite a growing US economy, the company faces challenges in raising product prices, which could prolong the current depressed market conditions [23]. - The management is optimistic about long-term prospects due to upcoming projects and potential growth in the electric vehicle (EV) sector, although they remain cautious about immediate pricing power [6][24]. Group 3: Financial Outlook - The company expects to unlock approximately US$150-200 million in additional EBITDA from developments in the EV space, but this is contingent on solid sales volume growth without compromising pricing [6]. - The balance sheet appears healthy, which could support a recovery in earnings per share (EPS) if macroeconomic conditions improve [8][24]. - Analysts suggest that the stock price may have bottomed out, presenting a potential accumulation opportunity, especially if profitability begins to improve [14][21].

Core Viewpoint - Huntsman Corporation is focusing on growing its downstream specialty and formulation businesses while facing challenges from demand softness and pricing pressure [2][8]. Company Performance - The company's shares have declined by 8.6% over the past year, compared to a 6.1% decline in its industry [1]. - Huntsman is experiencing headwinds from demand softness and significant de-stocking in 2023, particularly in Europe and China [4][11]. Business Strategy - Huntsman is shifting its MDI business from components to differentiated systems, which typically have higher margins and lower volatility [2]. - The company is benefiting from synergies from acquisitions, with strong liquidity and balance sheet leverage allowing for continued development and expansion [3]. Financial Performance - The acquisitions of CVC Thermoset and Gabriel Performance Products are contributing positively to EBITDA in the Advanced Materials segment [3]. - The company realized over $280 million in run rate savings by the end of 2023 and expects additional cost-improvement opportunities in 2024 [10]. Market Conditions - Demand conditions in Europe weakened due to high natural gas prices, while demand in China was affected by reduced economic growth and lower construction activities [4]. - The company is facing pricing pressure, with lower selling prices impacting its top line and a less favorable supply-demand environment contributing to falling MDI prices [5]. Future Outlook - The Polyurethanes segment is well positioned for long-term growth due to a focus on high-value differentiated downstream products [9]. - The company expects around $60 million in cost optimization benefits in 2024, excluding inflation [10].