Huntsman(HUN)2025-05-02 16:26Financial Performance - Revenues for Huntsman Corporation decreased by 4% to $1,410 million in Q1 2025 compared to $1,470 million in Q1 2024[141] - Gross profit remained stable at $201 million for both Q1 2025 and Q1 2024[141] - Adjusted EBITDA decreased by 11% to $72 million in Q1 2025 from $81 million in Q1 2024[141] - Net income for Huntsman Corporation was $11 million in Q1 2025, a significant improvement from a net loss of $23 million in Q1 2024[141] - Operating income improved to $42 million in Q1 2025 from a loss of $38 million in Q1 2024[141] - For the three months ended March 31, 2025, loss from continuing operations attributable to Huntsman Corporation improved by $26 million to a loss of $4 million compared to a loss of $30 million in the same period of 2024[154] - Adjusted EBITDA for total reportable segments decreased by $16 million, or 13%, to $108 million for the three months ended March 31, 2025 compared to $124 million in 2024[156] - Corporate and other adjusted EBITDA loss improved to $36 million for Huntsman Corporation from a loss of $43 million in the same period of 2024[162] Cash Flow and Capital Expenditures - Net cash used in operating activities from continuing operations increased by 13% to $(71) million in Q1 2025 compared to $(63) million in Q1 2024[141] - Capital expenditures from continuing operations decreased by 14% to $(36) million in Q1 2025 from $(42) million in Q1 2024[141] - Net cash provided by investing activities for Q1 2025 was $6 million, compared to a cash use of $(30) million in Q1 2024[165] - Free cash flow from continuing operations for Q1 2025 was a cash use of $107 million, slightly increasing from $105 million in Q1 2024[168] - The company expects to spend approximately $180 million to $190 million on capital expenditures in 2025, focusing on environmental upgrades and facility expansions[175] Tax and Interest - The effective tax rate for Huntsman Corporation was 56% in Q1 2025, consistent with the previous year[143] - Income tax expense for the three months ended March 31, 2025 was $15 million, compared to an income tax benefit of $20 million in the same period of 2024[154] - Interest expense remained unchanged at $(19) million for both Q1 2025 and Q1 2024[141] Discontinued Operations and Other Income - Loss from discontinued operations decreased by 86% to $(1) million in Q1 2025 from $(7) million in Q1 2024[141] - Equity in income of investment in unconsolidated affiliates decreased to $1 million from $19 million in the 2024 period, primarily due to a decrease in income at a joint venture in China[154] Working Capital and Debt - Working capital increased by $186 million, with total current assets rising to $2,286 million, an 8% increase from $2,125 million in Q1 2024[169] - The current portion of debt decreased by $41 million to $284 million, primarily due to the discharge of obligations under the 2025 Senior Notes[169] Inventory and Receivables - Accounts and notes receivable increased by $72 million, primarily due to higher revenues in March 2025 compared to December 2024[169] - Inventories rose by $113 million, attributed to higher inventory costs and volumes[169] Pension and Share Repurchase - The company plans to make additional contributions of approximately $27 million to pension and other postretirement benefit plans during 2025[175] - The company has approximately $547 million remaining under the existing share repurchase program, with repurchases potentially commencing or being suspended without prior notice[175]