Huntsman Announces Fourth Quarter 2025 Earnings

Core Insights - Huntsman Corporation reported a net loss of $96 million for Q4 2025, an improvement from a net loss of $141 million in Q4 2024, with revenues decreasing to $1,355 million from $1,452 million year-over-year [1][2][3] - Adjusted EBITDA for Q4 2025 was $35 million, down from $71 million in the same quarter of the previous year, indicating a challenging market environment [1][2] - The company generated $77 million in net cash from operating activities in Q4 2025, with free cash flow dropping to $20 million from $108 million in Q4 2024 [1][2] Financial Performance - Revenues for the full year 2025 were approximately $5.683 billion, down from $6.036 billion in 2024 [1][2] - The adjusted net loss for the full year 2025 was $121 million compared to an adjusted net loss of $13 million in 2024 [1][2] - The diluted loss per share for Q4 2025 was $0.56, compared to $0.82 in Q4 2024, while the adjusted diluted loss per share was $0.37, up from $0.25 [1][2] Segment Analysis - In the Polyurethanes segment, revenues decreased by 8% to $897 million in Q4 2025, primarily due to lower average selling prices, although sales volumes increased in the Americas and Asia [1][2] - The Performance Products segment saw a 6% revenue decline to $224 million, attributed to lower average selling prices amid competitive pressures [1][2] - Advanced Materials segment revenues fell by 4% to $243 million, driven by lower sales volumes despite higher average selling prices [1][2] Liquidity and Capital Resources - As of December 31, 2025, Huntsman had approximately $1.3 billion in combined cash and unused borrowing capacity [1][2] - Capital expenditures for Q4 2025 were $57 million, slightly higher than $51 million in Q4 2024, with expectations for similar levels in 2026 [1][2] Tax and Effective Rates - The effective tax rate for Q4 2025 was -1%, with an adjusted effective tax rate of -14% [1][2]