Huntsman(HUN)2025-05-01 20:30Financial Performance - First quarter 2025 revenues were $1,410 million, a decrease of 4% compared to $1,470 million in the prior year period[5]. - Net loss attributable to Huntsman for Q1 2025 was $5 million, an improvement from a net loss of $37 million in Q1 2024[4]. - Adjusted EBITDA for Q1 2025 was $72 million, down 11% from $81 million in the same period last year[4]. - Net income for Q1 2025 was $11 million, compared to a net loss of $23 million in Q1 2024, representing a significant turnaround[23]. - Adjusted EBITDA for Q1 2025 was $72 million, down from $81 million in Q1 2024, indicating a decrease of approximately 11.1%[23]. Segment Performance - Polyurethanes segment revenues decreased by 2% to $912 million, while Performance Products and Advanced Materials segments saw declines of 12% and 5%, respectively[19]. - The adjusted EBITDA for the Polyurethanes segment increased by 8% to $42 million, while Performance Products and Advanced Materials segments decreased by 29% and 16%, respectively[19]. Cash Flow and Capital Expenditures - Free cash flow used in continuing operations was $107 million in Q1 2025, slightly higher than $105 million in Q1 2024[11]. - The company plans to spend between $180 million to $190 million on capital expenditures in 2025, down from $42 million in Q1 2024[12]. - Free cash flow from continuing operations was $(107) million in Q1 2025, slightly worse than $(105) million in Q1 2024[28]. - The company reported a net cash used in operating activities from continuing operations of $(71) million for Q1 2025, compared to $(63) million in Q1 2024[28]. Taxation - The effective tax rate for Q1 2025 was 56%, with the adjusted effective tax rate not being meaningful[13]. - The effective tax rate for Q1 2025 was 56%, consistent with the rate from Q1 2024[30]. - The adjusted effective tax rate for Q1 2025 was 57%, indicating a slight increase from the previous period[30]. - The adjusted effective tax rate is used for improved comparability between periods, excluding items not indicative of operational profitability[35]. Assets and Liabilities - Total assets increased to $7,232 million as of March 31, 2025, up from $7,114 million at the end of 2024, reflecting a growth of about 1.7%[25]. - Cash at the end of Q1 2025 was $334 million, a slight decrease from $340 million at the end of 2024[26]. - Total debt, excluding affiliates, rose to $1,954 million as of March 31, 2025, compared to $1,835 million at the end of 2024, marking an increase of approximately 6.5%[26]. - The company’s inventories increased to $1,030 million as of March 31, 2025, up from $917 million at the end of 2024, reflecting a rise of approximately 12.3%[25]. Strategic Focus - Huntsman is focusing on cost management, including workforce reductions and asset optimization in Europe and North America[6]. - Huntsman is reviewing strategic options for its European maleic anhydride business, with updates expected by summer 2025[6]. Company Overview - Huntsman Corporation projects approximately $6 billion in revenues for 2024 from continuing operations[36]. - The company operates over 60 manufacturing, R&D, and operations facilities across approximately 25 countries[36]. - Huntsman employs around 6,300 associates within its continuing operations[36]. Risks and Forward-Looking Statements - Significant risks include high energy costs in Europe, inflation, geopolitical instability, and volatile global economic conditions[37]. - Forward-looking statements include expectations regarding future revenue, capital expenditures, and strategic transactions[37]. - The company does not undertake an obligation to update or revise forward-looking statements after the date made[37].