Huntsman(US:HUN)2025-11-07 18:29Financial Performance - Revenues for Q3 2025 were $1,460 million, a decrease of 5% compared to $1,540 million in Q3 2024[151] - Gross profit for Q3 2025 was $204 million, down 13% from $234 million in Q3 2024[151] - Operating income for Q3 2025 was $6 million, an 86% decline from $42 million in Q3 2024[151] - Adjusted EBITDA for Q3 2025 was $94 million, a decrease of 28% from $131 million in Q3 2024[152] - Loss from continuing operations for Q3 2025 was $24 million, compared to a loss of $21 million in Q3 2024[152] - Net loss for Q3 2025 was $25 million, a decrease from a net loss of $33 million in Q3 2024[152] - Operating income for Q3 2025 was $7 million, an 84% decline from $43 million in Q3 2024[153] - Adjusted EBITDA for Q3 2025 was $95 million, a decrease of 28% from $132 million in Q3 2024[155] - The company reported a net loss of $11 million for Q3 2025, compared to a net loss of $16 million in Q3 2024[154] - For the nine months ended September 30, 2025, the net loss attributable to Huntsman Corporation was $145 million, compared to a net loss of $2 million for the same period in 2024[156] - Adjusted net loss income for the nine months ended September 30, 2025, was $58 million, while adjusted net income for the same period in 2024 was $30 million[156] Cash Flow and Expenses - Net cash provided by operating activities from continuing operations increased by 75% to $221 million compared to $126 million in Q3 2024[152] - Total operating expenses for Q3 2025 were $198 million, a 3% increase from $192 million in Q3 2024[151] - Capital expenditures from continuing operations were $116 million, down 13% from $133 million in Q3 2024[152] - Free cash flow from continuing operations for the nine months ended September 30, 2025, was $105 million, compared to a negative free cash flow of $7 million for the same period in 2024[156] - Net cash provided by operating activities from continuing operations increased to $221 million for the nine months ended September 30, 2025, compared to $126 million in the same period of 2024[182] - Net cash used in investing activities decreased to $74 million for the nine months ended September 30, 2025, from $87 million in the prior year[183] - Cash and cash equivalents increased by $128 million to $468 million as of September 30, 2025, representing a 38% increase from December 2024[187] - Total current assets rose by $57 million to $2,182 million, a 3% increase compared to December 2024[187] - Working capital increased by $21 million to $581 million, reflecting a 4% change from December 2024[187] Segment Performance - Revenues for the three months ended September 30, 2025, decreased by $80 million, or 5%, compared to the same period in 2024, primarily due to lower average selling prices[165] - Gross profit for the three months ended September 30, 2025, decreased by $30 million, or 13%, compared to the same period in 2024, driven by lower gross profits in the Polyurethanes and Performance Products segments[165] - Segment adjusted EBITDA for Polyurethanes decreased by 37% to $48 million, while Performance Products saw a 31% decline to $29 million for the three months ended September 30, 2025[169] - Performance Products segment revenues decreased by 11% for the nine months ended September 30, 2025, primarily due to lower sales volumes[174] - Advanced Materials segment revenues increased slightly by 2% for the three months ended September 30, 2025, primarily due to higher average selling prices[171] Tax and Capital Expenditures - Income tax expense from continuing operations decreased by 92% to $3 million compared to $39 million in Q3 2024[151] - The effective tax rate for the nine months ended September 30, 2025, was (21)%, compared to 76% for the same period in 2024[156] - The company expects to spend between $170 million to $180 million on capital expenditures during 2025[193] Shareholder Returns and Debt - A cash dividend of $0.0875 per share was declared, marking a 65% decrease from the previous dividend[190] - Approximately $547 million remains under the authorization of the existing share repurchase program[193] - The current portion of debt increased by $53 million to $378 million, primarily due to increased borrowings under the 2022 Revolving Credit Facility[187] - The company has approximately $465 million of cash held by foreign subsidiaries, intended to fund local operations[191]