Huntsman Corp Stock Price, News & Analysis

Huntsman Corporation (NYSE: HUN) announced a natural gas surcharge of Euros 125 per tonne on MDI sales in Europe, Africa, the Middle East, and India, effective October 1, 2021. This decision is in response to unprecedented natural gas price increases that have exceeded historic levels, impacting production costs significantly. The surcharge is in addition to existing MDI price hikes. President of Polyurethanes, Tony Hankins, stated the company is working with customers to manage this impact.

Huntsman Corporation (HUN) reported that Hurricane Ida did not significantly damage its Geismar, Louisiana manufacturing facility. Operations were safely shut down prior to the hurricane's arrival, and preparations for a gradual restart are underway. The company expects that any EBITDA impacts from the hurricane will be mitigated by strong performance in its Performance Products division and MDI markets in Europe and Asia. The anticipated production resumption timeline is this weekend, with increased rates expected next week.

On August 2, 2021, Huntsman Corporation (NYSE: HUN) declared a cash dividend of $0.1875 per share on its common stock. The dividend will be paid on September 30, 2021, to stockholders of record as of September 15, 2021. Huntsman reported approximately $6 billion in revenues for 2020 and operates over 70 facilities globally, employing around 9,000 associates across four business divisions.

Huntsman Corporation reported a robust second quarter in 2021 with revenue of $2,024 million, sharply up from $1,247 million year-on-year. The company posted a net income of $172 million compared to a net loss of $59 million in the previous year. Adjusted EBITDA surged to $334 million, significantly higher than $54 million in Q2 2020. Despite challenges, Huntsman maintained a strong balance sheet with $1.9 billion in liquidity and a net leverage of 1.0x. Noteworthy is the reduction in annual cash interest expenses by $9 million following the refinancing of debt.

Huntsman Corporation (NYSE: HUN) will host a conference call on July 30, 2021, at 10:00 a.m. ET to review its Q2 2021 financial results, which will be available at 6:00 a.m. ET that day. Participants can join by dialing (877) 402-8037 for domestic callers or (201) 378-4913 for international callers. The call will feature presentation slides accessible via the webcast link. Huntsman reported revenues of approximately $6 billion in 2020, operates over 70 facilities worldwide, and employs around 9,000 associates.

Huntsman Corporation (NYSE: HUN) announced plans to expand its ULTRAPURE™ Ethylene Carbonate production capacity at its Conroe, Texas facility by mid-2023. This expansion responds to rising demand in the lithium-ion battery market, crucial for electric vehicles (EVs) and electronics. Huntsman is the only US producer of cyclic carbonates and has seen significant growth in this sector. The company aims to support the expanding US and European markets while enhancing service to its customers and contributing to reduced emissions in transportation.

Huntsman Corporation (NYSE: HUN) has appointed Phil Lister as the new Executive Vice President and Chief Financial Officer, effective July 1, 2021. Lister, a 25-year veteran of the company, succeeds Sean Douglas, who has transitioned to a full-time role with The Church of Jesus Christ of Latter-day Saints. In his previous role as VP of Corporate Development, Lister oversaw transactions worth over $3.5 billion, enhancing the company's portfolio and focus on specialty businesses. This leadership change aims to bolster Huntsman's strategy for organic and acquisition-driven growth.

Huntsman Corporation (NYSE: HUN) has priced a $400 million offering of Senior Notes due 2031 at 99.930%, with a 2.950% interest rate. The offering will close on May 26, 2021. Proceeds will be used to redeem $400 million of 5.125% Senior Notes due 2022 and to cover accrued interest and related expenses. The offering falls under an effective shelf registration with the SEC, and various financial institutions are acting as joint book-running managers. Huntsman, a global specialty chemicals manufacturer, reported approximately $6 billion in revenues for 2020.