Financial Performance - Fourth quarter 2025 revenues were $1,355 million, a decrease of 7% compared to $1,452 million in the same period of 2024[3]. - Net loss attributable to Huntsman in Q4 2025 was $96 million, an improvement from a net loss of $141 million in Q4 2024[4]. - Adjusted EBITDA for Q4 2025 was $35 million, down from $71 million in Q4 2024, reflecting a 50% decrease in the Polyurethanes segment[4][16]. - Free cash flow from continuing operations was $20 million in Q4 2025, significantly lower than $108 million in Q4 2024[4][9]. - The company generated approximately $300 million of cash flow from operations in 2025, with a full-year free cash flow conversion rate of 45%[5]. - Net loss for the three months ended December 31, 2025, was $82 million, an improvement from a net loss of $125 million in the same period of 2024[19]. - Net loss attributable to Huntsman Corporation for the three months ended December 31, 2025, was $96 million, compared to a net loss of $141 million in 2024[19]. - Adjusted EBITDA for the twelve months ended December 31, 2025, was $35 million, down from $71 million in 2024[19]. - Diluted loss per share for the three months ended December 31, 2025, was $(0.48), an improvement from $(0.73) in 2024[19]. - The company reported a net income of $305 million, which is a notable improvement from previous losses, suggesting a positive trend in financial performance[20]. Revenue Segments - Polyurethanes segment revenues decreased by 8% year-over-year, primarily due to lower average selling prices despite higher sales volumes[6][16]. - Performance Products segment revenues fell by 6% year-over-year, driven by lower average selling prices amid competitive pressures[7][16]. - Advanced Materials segment revenues decreased by 4% year-over-year, mainly due to lower sales volumes, partially offset by higher average selling prices[8][16]. - Huntsman Corporation reported revenues of approximately $6 billion from continuing operations for the year 2025[30]. Cash Flow and Debt - Net cash provided by operating activities from continuing operations was $298 million for the twelve months ended December 31, 2025, compared to $285 million in 2024, an increase of 4.56%[24]. - Free cash flow from continuing operations was $125 million for the twelve months ended December 31, 2025, up from $101 million in 2024, representing a growth of 23.76%[24]. - Total debt, excluding affiliates, increased to $2,011 million in 2025 from $1,835 million in 2024, a rise of 9.59%[22]. - Net debt, excluding affiliates, rose to $1,582 million in 2025 compared to $1,495 million in 2024, an increase of 5.81%[22]. - Cash at the end of the period was $429 million in 2025, up from $340 million in 2024, reflecting a growth of 26.18%[24]. Assets and Liabilities - Total assets decreased to $7,015 million in 2025 from $7,114 million in 2024, reflecting a decline of 1.39%[21]. - The company experienced a decrease in inventories from $917 million in 2024 to $818 million in 2025, a decline of 10.79%[21]. - Accounts payable decreased to $721 million in 2025 from $770 million in 2024, a reduction of 6.36%[21]. Strategic Outlook - The company is focusing on market expansion and new product development to drive future growth, although specific figures were not disclosed[20]. - The company is exploring strategic acquisitions to enhance its market position, although details on potential targets were not provided[20]. - The company anticipates continued investment in technology and innovation to support long-term growth strategies[20]. - Future guidance suggests a cautious outlook, with expectations of gradual recovery in market conditions[20]. - The company expects capital expenditures in 2026 to be similar to the $57 million spent in Q4 2025[10]. Operational Metrics - Interest expense from continuing operations remained stable at $19 million for both the three months ended December 31, 2025, and 2024[19]. - Depreciation and amortization from continuing operations for the three months ended December 31, 2025, was $73 million, slightly down from $75 million in 2024[19]. - Interest expenses from continuing operations were $57 million, consistent with the previous period, indicating stable financing costs[20]. - The adjusted income tax expense rate was 88%, compared to 55% in the prior period, reflecting a higher effective tax burden[20]. - The effective tax rate for the current period was 14%, down from 15.6% in the previous period, indicating a slight reduction in tax liabilities[20]. - Loss on dissolution of subsidiaries for the three months ended December 31, 2025, was $0, while it was $39 million in 2024[19]. - Business acquisition and integration expenses for the three months ended December 31, 2025, were $1 million, compared to $0 in 2024[19]. - Net income attributable to noncontrolling interests for the three months ended December 31, 2025, was $(14) million, compared to $(16) million in 2024[19]. Company Overview - Huntsman Corporation operates over 55 manufacturing, R&D, and operations facilities in approximately 25 countries, employing around 6,000 associates[30].

Core Points - Huntsman Corporation declared a cash dividend of $0.0875 per share on its common stock, payable on March 31, 2026, to stockholders of record as of March 13, 2026 [1] - The company will hold its 2026 Annual Meeting of Stockholders in a virtual format on April 29, 2026, at 8:00 a.m. Central Time, with voting rights for holders of record as of March 6, 2026 [1] Company Overview - Huntsman Corporation is a global manufacturer and marketer of differentiated and specialty chemicals, with approximately $6 billion in revenues from continuing operations in 2025 [1] - The company operates over 55 manufacturing, R&D, and operations facilities across approximately 25 countries and employs around 6,000 associates [1]

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]

Core Viewpoint - Huntsman Corporation will hold a conference call on February 18, 2026, to discuss its fourth quarter 2025 financial results, with a question and answer session following the opening remarks [1]. Financial Information - The earnings press release, including financial statements and segment information, will be distributed after the market closes on February 17, 2026 [2]. - Huntsman Corporation reported revenues of approximately $6 billion for the year 2024 [3]. Company Overview - Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals, operating over 60 manufacturing, R&D, and operations facilities in about 25 countries [3]. - The company employs approximately 6,300 associates within its continuing operations [3].

Core Insights - Huntsman Corporation (HUN) has revised its fourth-quarter 2025 outlook due to an unplanned outage at its Polyurethanes facility in Rotterdam, which is expected to negatively impact adjusted EBITDA by approximately $10 million [1][7] - The company now anticipates fourth-quarter 2025 adjusted EBITDA to be at the lower end of the previously announced range of $25 million to $50 million [2][7] - HUN's shares have declined by 43.3% over the past year, compared to a 21.4% decline in the industry [2] Financial Performance - HUN's restructuring programs are projected to yield over $100 million in savings this year, with a focus on cost management and cash generation [3] - The company has reset its regular dividend to 35 cents per share annually, reflecting a reduction of 65% to maintain financial flexibility [3] Market Position - HUN currently holds a Zacks Rank of 3 (Hold) [4] - In the Basic Materials sector, better-ranked stocks include Kinross Gold Corporation (KGC) with a Zacks Rank of 1 (Strong Buy), and Fortuna Mining Corp. (FSM) and Harmony Gold Mining Company Limited (HMY) both with a Zacks Rank of 2 (Buy) [4]

Core Viewpoint - Huntsman Corporation is facing an unplanned outage at its Polyurethanes facility in Rotterdam, which is expected to negatively impact its fourth quarter 2025 adjusted EBITDA by approximately $10 million, leading to expectations of adjusted EBITDA at the low end of the previously communicated range of $25 million to $50 million [1]. Company Overview - Huntsman Corporation is a global manufacturer and marketer of differentiated and specialty chemicals, with revenues of approximately $6 billion in 2024 [2]. - The company operates over 60 manufacturing, R&D, and operations facilities across approximately 25 countries and employs around 6,300 associates [2].

Core Insights - Huntsman Corporation reported a narrower loss of 14 cents per share in Q3 2025, compared to a loss of 19 cents per share in the same quarter last year, and adjusted loss per share was 3 cents, better than the expected loss of 13 cents [1][9] Revenue Performance - Revenues for Huntsman Corporation were $1,460 million, reflecting a 5% year-over-year decline, but exceeded the Zacks Consensus Estimate of $1,443.4 million [2][9] - The Polyurethanes segment saw revenues decrease by 5% to $956 million, missing the estimate of $971 million due to lower average selling prices despite higher sales volumes [3] - Performance Products revenues fell 12% to $246 million, below the estimate of $256 million, primarily due to lower sales volumes and prices [4] - Advanced Materials revenues increased by 2% to $265 million, surpassing the estimate of $261 million, driven by higher average selling prices [4] Financial Highlights - Free cash flow from continuing operations was $157 million, up from $93 million in the prior-year quarter [5] - The company had approximately $1.4 billion in combined cash and unused borrowing capacity as of September 30, 2025 [5] - Net cash provided by operating activities from continuing operations was $200 million in the reported quarter [5] Strategic Outlook - Huntsman Corporation emphasized cost management and cash generation as top priorities, with restructuring programs expected to yield over $100 million in savings [6] - The company reduced its annual dividend to 35 cents per share, a 65% decrease, to maintain financial flexibility amid challenging economic conditions [7] Stock Performance - Huntsman shares have declined by 58.5% over the past year, compared to a 37% decline in the Zacks Chemicals Diversified industry [8]

Financial 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]

Financial Data and Key Metrics Changes - The company delivered $200 million of operating cash in Q3 2025, with year-to-date free cash flow exceeding $100 million [7] - The latest dividend levels were adjusted down by 65%, resulting in approximately $60 million of cash requirements for the dividend next year, down from $115 million [9][49] - The company is on track to complete a $100 million cost reduction program, which includes the elimination or relocation of over 600 positions and the closure of seven sites, primarily in Europe [6][7] Business Line Data and Key Metrics Changes - The performance products division is expected to see modest recovery starting in 2026, with new capacities being introduced and improvements in contracts within automotive segments [56][57] - The maleic anhydride market remains strong in North America, with the company positioned as the low-cost producer [67] - Performance products volumes have been running down close to double digits, but the reduction is significantly influenced by the closure of the Moors site in Germany [66][68] Market Data and Key Metrics Changes - The U.S. economy is under pressure due to high inflation and rising interest rates, impacting consumer durables and home building [4][5] - Consumer confidence and spending in China are low, while European deindustrialization continues due to high business costs and regulations [5][6] - The U.S. MDI market is experiencing a sluggish demand, with a year-over-year growth of about 6% in Q3 2025 [36][72] Company Strategy and Development Direction - The company plans to continue calibrating its cost structure to align with market realities and manage cash flow during prolonged downturns [6][7] - There is a focus on sourcing energy-intensive raw materials from regions with more competitive costs, while maintaining a strong presence in profitable markets like aerospace and automotive [7][8] - The company is exploring opportunities for consolidations and rationalizing capacities to enhance competitiveness [8] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about a potential recovery in the U.S. and China economies as trade tensions ease and consumer confidence returns [5][6] - The company anticipates typical seasonality in Q4 2025, coupled with higher-than-average destocking, particularly in Europe [10] - Management emphasized the importance of protecting the balance sheet for long-term stability and growth [8][9] Other Important Information - The company is not planning to take on more debt to increase dividends and will consider dividend increases only when market conditions improve [9] - The company is actively managing working capital and has been aggressive in reducing inventory levels [13][15] Q&A Session Summary Question: Cash flow and inventory reduction actions in Q3 - Management indicated that inventory reduction actions may lead to lower utilization rates in Q4, but they aim to calibrate production to actual demand as they enter 2026 [13][17] Question: Risk of European manufacturing capacity leaving - Management is closely monitoring the situation and believes that their supply chain remains strong, particularly in Rotterdam, despite potential risks [22][24] Question: U.S. MDI imports from Europe - Management hopes that the increase in U.S. MDI imports from Europe is not a structural change, as it may not make economic sense in the long term [30][31] Question: Performance products market demand - Management expects gradual improvement in the maleic market and flat to positive performance in ethyleneamines, despite competitive conditions [66][67] Question: Future MDI growth rates - Management anticipates MDI growth to align with GDP growth, plus additional growth from product substitution, estimating a growth rate of about 1.5 times GDP [89]

Financial Performance - Q3 2025 - Revenues decreased to $1460 million from $1540 million in 3Q24[8], a decrease of approximately 5%[16] - Net loss attributable to Huntsman Corporation was $25 million, compared to a net loss of $33 million in 3Q24[8] - Adjusted net loss was $5 million, compared to an adjusted net income of $17 million in 3Q24[8] - Adjusted EBITDA decreased to $94 million from $131 million in 3Q24[8] - Free cash flow from continuing operations increased to $157 million from $93 million in 3Q24[8] Segment Performance - Q3 2025 - **Polyurethanes:** Revenues decreased to $956 million from $1003 million in 3Q24[11], and adjusted EBITDA margin was 5% compared to 8% in 3Q24[13] - **Performance Products:** Revenues decreased to $246 million from $280 million in 3Q24[20], a 12% decrease[25], and adjusted EBITDA margin was 12% compared to 15% in 3Q24[22] - **Advanced Materials:** Revenues increased slightly to $265 million from $261 million in 3Q24[28], a 2% increase[33], and adjusted EBITDA margin was 17% compared to 18% in 3Q24[30] Cash Flow and Liquidity - Cash flow from operations increased to $200 million in 3Q25 from $134 million in 3Q24[43] - Liquidity at the close of the quarter was $1372 million[43] - Net debt was $1540 million[43] Cost Realignment Plans - Targeted run rate benefits of approximately $100 million by the end of 2026[45] - Expected restructuring cash costs of approximately $80 million[45] - Total headcount reduction of approximately 500[45] Q4 2025 Outlook - Total adjusted EBITDA is expected to be between approximately $25 million and $50 million[52]