Huntsman(US:HUN)2025-11-06 21:32Financial Performance - Third quarter 2025 revenues were $1,460 million, a decrease of 5% compared to $1,540 million in the prior year period[5][18]. - Net loss attributable to Huntsman Corporation for Q3 2025 was $25 million, an improvement from a net loss of $33 million in Q3 2024[4][5]. - Adjusted EBITDA for Q3 2025 was $94 million, down from $131 million in the same period last year, reflecting a decrease of 28%[4][5]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $240 million, down from $343 million for the same period in 2024, indicating a decline of approximately 30%[21]. - The company reported a net loss of $188 million attributable to Huntsman Corporation for the nine months ended September 30, 2025, compared to a net loss of $48 million for the same period in 2024, representing a significant deterioration in performance[21]. Cash Flow and Liquidity - Free cash flow from continuing operations was $157 million in Q3 2025, compared to $93 million in Q3 2024, representing a 68% increase[4][10]. - Total cash at the end of the period increased to $468 million in Q3 2025, up from $330 million in Q3 2024, representing a 42% increase[25]. - Free cash flow from continuing operations for the nine months ended September 30, 2025, was $105 million, compared to a negative $7 million in the same period of 2024[25]. - Net cash provided by operating activities from continuing operations was $200 million for Q3 2025, a 49% increase from $134 million in Q3 2024[25]. - Cash paid for interest decreased to $5 million in Q3 2025 from $14 million in Q3 2024, a reduction of 64%[25]. - Cash paid for income taxes increased to $18 million in Q3 2025 from $16 million in Q3 2024, reflecting a 13% increase[25]. Dividends and Shareholder Returns - The regular quarterly dividend was reset to $0.0875 per share, a reduction of 65% from the previous dividend, resulting in an annual payout of $0.35 per share[4][6]. Segment Performance - Polyurethanes segment revenues decreased by 5% to $956 million in Q3 2025, primarily due to lower average selling prices[7][18]. - Performance Products segment revenues fell by 12% to $246 million, driven by lower sales volumes and average selling prices[8][18]. - Advanced Materials segment revenues increased by 2% to $265 million, primarily due to higher average selling prices[9][18]. Restructuring and Cost Savings - The company expects to achieve over $100 million in savings from ongoing restructuring programs, projected to be completed by 2026[6]. Balance Sheet and Financial Position - Total assets as of September 30, 2025, were $7,082 million, slightly down from $7,114 million as of December 31, 2024[22]. - Cash increased to $468 million as of September 30, 2025, up from $340 million at the end of 2024, indicating a significant liquidity improvement[22]. - Total debt excluding affiliates rose to $2,008 million as of September 30, 2025, compared to $1,835 million at the end of 2024, reflecting increased leverage[23]. - Net debt excluding affiliates increased to $1,540 million as of September 30, 2025, from $1,495 million at the end of 2024, reflecting a slight increase in financial obligations[23]. - The effective tax rate for the nine months ended September 30, 2025, was -21%, compared to 76% for the same period in 2024, showing a significant tax benefit[21]. - The adjusted effective tax rate for the nine months ended September 30, 2025, was 267%, compared to 34% for the same period in 2024, indicating a substantial increase in tax liabilities[21]. Inventory Management - Inventory levels decreased to $836 million as of September 30, 2025, from $917 million as of December 31, 2024, indicating improved inventory management[22]. Operational Overview - The company operates over 60 manufacturing, R&D, and operations facilities in approximately 25 countries, employing around 6,300 associates[31]. - The company reported revenues of approximately $6 billion from continuing operations for the year 2024[31]. - Adjusted EBITDA is used to measure the operating performance of the business, providing meaningful insight into performance trends[27].