Huntsman reports Q3 adjusted EPS 10c, consensus 9c

Reports Q3 revenue $1.54B, consensus $1.55B. Peter Huntsman (HUN), Chairman, President, and CEO, commented: “The third quarter was consistent with our outlook of a stable environment at trough conditions in our core construction and industrial markets. Total volumes for the company did improve 5% in the quarter versus the prior year with stable margins sequentially. Construction and transportation account for approximately three quarters of our volumes and we expect near term trough conditions to persist through a seasonally lower fourth quarter. For the medium to long-term, interest rate cuts by the Federal Reserve and ECB, combined with government stimulus in China, should have a positive impact across our global portfolio, primarily in construction. In the meantime, we are focused on what we control – improving our cost position and our balance sheet strength to maintain optionality to invest in our core businesses in a disciplined manner. We were pleased by the success of our strong bond offering in the third quarter which points to the long-term strength of our portfolio and anticipation of market improvements in the coming years.”