Welcome to our dedicated page for Huntsman news (Ticker: HUN), a resource for investors and traders seeking the latest updates and insights on Huntsman stock.
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 successfully completed the sale of its India-based DIY consumer adhesives business to Pidilite Industries in an all-cash deal valued at approximately $257 million. The transaction, finalized on November 3, 2020, excludes working capital adjustments, with potential additional proceeds of up to $28 million based on future sales performance. This sale reflects a 15x multiple on the business's adjusted EBITDA from 2019, indicating strong valuation metrics.
Huntsman Corporation (NYSE: HUN) has declared a $0.1625 per share cash dividend on its common stock, payable on December 31, 2020. Stockholders of record as of December 15, 2020, will receive the dividend. In 2019, Huntsman generated revenues of approximately $7 billion and operates over 70 manufacturing and R&D facilities globally. The company employs around 9,000 associates and markets a diverse range of specialty chemicals.
Huntsman Corporation (HUN) reported third quarter 2020 results with revenues of $1.51 billion, down 10% year-over-year. Net income increased to $57 million, or $0.22 per diluted share, while adjusted net income fell to $70 million from $95 million in Q3 2019. Adjusted EBITDA was $188 million, representing a 13% decrease. The company expects to realize $250 million in cash benefits from a share sale and tax savings. Huntsman also plans to close the sale of its India-based DIY adhesives business for up to $285 million shortly.
Huntsman Corporation (NYSE: HUN) has signed an agreement to sell its India-based DIY consumer adhesives business to Pidilite Industries for up to $285 million. The transaction will provide approximately $257 million in cash at closing, with an additional $28 million available based on sales performance. The deal, expected to close within a week, reflects a 2019 adjusted EBITDA multiple of around 15 times. CEO Peter Huntsman believes Pidilite is better positioned to grow the business in India and hints at reinvesting proceeds into core operations.
Huntsman Corporation (NYSE: HUN) reported a partial outage at its MDI facility in Geismar, Louisiana, caused by mechanical failure at a third-party supplier. This outage is expected to last approximately 5 weeks and could affect the company's fourth quarter adjusted EBITDA by around $15 million. An update will be provided during the third quarter earnings conference call scheduled for October 29, 2020.
Huntsman Corporation (NYSE: HUN) will hold a conference call on October 29, 2020, at 10:00 a.m. ET to discuss its third quarter 2020 financial results, which will be released earlier that day at 6:00 a.m. ET. The call will include a presentation accessible via the webcast. Participants can join by dialing (877) 402-8037 for domestic calls and (201) 378-4913 for international calls. Huntsman reported revenues of approximately $7 billion in 2019, employing around 9,000 associates.
Huntsman Corporation (NYSE: HUN) announced an upgrade to its third quarter 2020 outlook during upcoming investor conferences. The company forecasts that its Polyurethanes segment's adjusted EBITDA will exceed prior expectations by at least 40%, largely due to robust demand in construction and automotive markets, as well as improved margins. Overall, Huntsman's other divisions are expected to align with earlier guidance from the second quarter. These insights will be shared at the UBS and RBC Capital Markets virtual conferences on September 9 and 15, respectively.
Huntsman Corporation (NYSE: HUN) has entered an agreement to sell approximately 42.5 million shares of Venator Materials PLC for $100 million. An additional 9.5 million shares may be sold in 30 months at $2.15 per share. This transaction, pending regulatory approval, is expected to close by year-end. Huntsman anticipates cash tax savings of around $150 million, resulting in a total benefit of $250 million from this sale. This move is aimed at enhancing Huntsman's financial flexibility for future growth.
Huntsman Corporation (NYSE: HUN) has declared a cash dividend of $0.1625 per share, payable on September 30, 2020, to shareholders on record by September 15, 2020. In 2019, the company reported revenues of approximately $7 billion and operates over 70 facilities worldwide across four business divisions, employing around 9,000 associates. This dividend announcement highlights Huntsman's commitment to returning value to its shareholders amidst the economic uncertainties.
Huntsman Corporation reported a second-quarter 2020 net loss of $59 million or $0.28 per share, a decline from a profit of $118 million or $0.47 per share the prior year. Adjusted net loss for the quarter was $30 million, down from an adjusted net income of $108 million. Revenues fell 30% year-over-year to $1,247 million, attributed to lower sales volumes and prices across all segments due to the COVID-19 impact. Adjusted EBITDA decreased to $54 million from $245 million. The company maintains strong liquidity with $2.6 billion available and expects over $100 million in annualized synergies from recent acquisitions by end of 2021.