Huntsman reports Q4 adjusted EPS (25c) vs (21c) last year

Reports Q4 revenue $1.452M vs $1.403B last year. Peter Huntsman (HUN), Chairman, President, and CEO, commented: “The fourth quarter was within our expectations as trough conditions continued in our core markets. Despite quarterly volume improvement year-on-year of 5% for the Company leading to full year volume growth of 6%, we are yet to see that growth translate into needed margin improvement. As we begin 2025, construction and automotive markets, which represents approximately two-thirds of our portfolio, remain subdued. China faces economic challenges, but we expect the automotive sector to still show modest growth and overall profitability in that region to be relatively stable. European industry conditions are highly compromised from a combination of high energy costs, overburdening regulation, and excess capacity. We do not intend to sit idly by, waiting for markets to improve, and will remain aggressive in costs which will include announced workforce reductions in our Polyurethanes segment. Additionally, we will start assessing strategic options for our European maleic anhydride business as well as closing downstream Polyurethanes facilities. We will remain diligent in protecting our balance sheet, focusing on cash, and creating a leaner Company that will have substantial operating leverage when demand begins to meaningfully improve.” Read more at: https://thefly.com/n.php?id=4072237