Huntsman ( (HUN) ) has released its Q3 earnings. Here is a breakdown of the information Huntsman presented to its investors.
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Huntsman Corporation is a global manufacturer and marketer of differentiated and specialty chemicals, serving a wide range of consumer and industrial end markets. The company operates over 60 manufacturing, R&D, and operations facilities in approximately 25 countries.
Huntsman Corporation reported a third-quarter 2024 net loss of $33 million, contrasting with a break-even performance in the same period the previous year. The company’s adjusted net income stood at $17 million, while revenues increased slightly to $1,540 million. The firm completed a $350 million senior note offering, with proceeds used for debt repayment and general corporate purposes.
Key financial metrics revealed a slight decline in adjusted EBITDA to $131 million from $136 million year-over-year. The company’s free cash flow from continuing operations also decreased to $93 million compared to $117 million in the prior year. Segment performance varied, with the Polyurethanes and Performance Products segments experiencing revenue increases due to higher sales volumes, while the Advanced Materials segment saw a revenue decline due to lower selling prices.
Despite the current economic challenges, Huntsman’s management remains optimistic about future prospects. The company is focusing on enhancing its cost position and balance sheet strength while anticipating potential market improvements driven by favorable economic policies and stimulus measures globally.
