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Huntsman Corporation reports developments tied to its global differentiated and specialty chemicals business. The company manufactures and markets products used by industrial and consumer-goods manufacturers, with operating areas that include Polyurethanes, Performance Products and Advanced Materials. Recurring updates cover earnings, segment performance, cash flow, common-stock dividends and annual meeting matters.
Company news also includes manufacturing and product-capacity developments, such as Performance Products investments for amine catalysts used in polyurethane, coatings, metalworking and electronics applications. Other recurring themes include demand conditions in end markets such as construction, automotive, durable goods and insulation, as well as executive leadership and corporate governance changes.
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.
Huntsman Corporation (NYSE: HUN) reported first quarter 2021 results showing revenues of $1.837 billion, up 15% from the previous year's $1.593 billion. However, net income fell to $100 million from $708 million a year earlier, with diluted earnings per share at $0.37, down from $3.16. Adjusted net income increased to $147 million from $65 million and adjusted EBITDA rose to $289 million from $165 million. The balance sheet remains strong with $2.1 billion in liquidity and a net leverage of 1.2x. The Board approved a 15% dividend increase.
On April 28, 2021, Huntsman Corporation (NYSE: HUN) announced a $0.1875 per share cash dividend, reflecting a 15% increase from the previous dividend. This dividend will be paid on June 30, 2021, to stockholders on record as of June 15, 2021. CEO Peter Huntsman expressed confidence in the company's future due to strengthened balance sheets and improved business portfolios, highlighting the ability to generate strong free cash flow.
Huntsman Corporation (NYSE: HUN) will host a conference call on April 30, 2021, at 10:00 a.m. ET to discuss its first quarter financial results, set to be released at 6:00 a.m. ET on the same day. Investors can access the call through a webcast, and the presentation slides will be available on Huntsman's investor relations site. Huntsman reported revenues of approximately $7 billion in 2019 and operates over 70 facilities globally. Forward-looking statements indicate potential risks, including economic volatility and operational disruptions.
Huntsman Corporation (NYSE: HUN) announced that Sean Douglas, the Executive Vice President and Chief Financial Officer, will resign effective July 1, 2021, to pursue a full-time calling with The Church of Jesus Christ of Latter-day Saints. Peter Huntsman, Chairman and CEO, praised Douglas for his 30 years of service, noting his significant contributions to the company's financial strategy and product portfolio transition. The company is currently searching for a new CFO and aims to have someone in place by the resignation date.
Huntsman Corporation (NYSE: HUN) has declared a $0.1625 cash dividend per share on its common stock, payable on March 31, 2021, to stockholders of record by March 15, 2021. Additionally, the company will hold its 2021 Annual Meeting in a virtual format on April 28, 2021, due to ongoing COVID-19 health concerns, with eligibility for record holders as of March 4, 2021. Huntsman reported revenues of approximately $6 billion in 2020, operating over 70 facilities globally.
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Huntsman Corporation (NYSE: HUN) reported strong fourth quarter 2020 results, achieving $360 million in net income compared to $308 million year-over-year. Adjusted diluted earnings per share rose to $0.51 from $0.29. Revenue for the quarter was $1.668 billion, slightly up from $1.657 billion in Q4 2019. The company generated $157 million in adjusted free cash flow and maintained a solid balance sheet with $3 billion in liquidity. The acquisition of Gabriel Performance Products for $250 million and significant annualized savings targets bolster future growth.
Huntsman Corporation (NYSE: HUN) has completed its acquisition of Gabriel Performance Products for $250 million, enhancing its specialty chemicals portfolio. Gabriel, a manufacturer of specialty additives and epoxy curing agents, reported revenues of approximately $106 million in 2019. The transaction, funded through available liquidity, represents an adjusted EBITDA multiple of approximately 11 times, or 8 times considering synergies. This acquisition strengthens Huntsman's position in the coatings, adhesives, and composite markets.
Huntsman Corporation (NYSE: HUN) announced a conference call on February 12, 2021, at 10:00 a.m. ET to discuss its fourth quarter 2020 financial results. Results will be released at 6:00 a.m. ET on the same day. The call will be available via webcast, accessible through Huntsman’s investor relations website. The company reported approximately $7 billion in revenues for 2019, operating in over 30 countries with around 9,000 employees across four business divisions.