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.
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Huntsman Corporation (NYSE: HUN) has announced a conference call scheduled for May 5, 2023, at 10:00 a.m. ET to discuss its first quarter 2023 financial results, which will be released at approximately 6:00 a.m. ET on the same day. The call will be accessible via a webcast link, and participants can dial in using provided phone numbers for domestic and international callers.
The company reported revenues of approximately $8 billion in 2022 and operates over 60 manufacturing and R&D facilities globally, employing around 7,000 associates.
Huntsman Corporation (NYSE: HUN) has finalized the sale of its Textile Effects division to Archroma for $593 million in cash, along with assumed pension liabilities. The net after-tax cash proceeds are estimated to be approximately $540 million, subject to standard closure adjustments. This strategic divestiture allows Huntsman to focus on its core operations in specialty chemicals, which generated revenues of about $8 billion in 2022. The transaction is aligned with the company’s ongoing efforts to optimize its portfolio and enhance operational efficiency.
Huntsman Corporation (NYSE: HUN) reported a net loss of $91 million for Q4 2022, contrasting sharply with a net income of $597 million in Q4 2021. The diluted loss per share was $0.48, down from earnings of $2.73 last year. Adjusted net income fell to $8 million, with an adjusted diluted EPS of $0.04. Revenues dropped to $1.65 billion from $2.11 billion year-on-year. The company anticipates a stronger performance in 2023 as destocking ends and highlights successful cost reduction initiatives. Huntsman is finalizing a $540 million sale of its Textile Effects division, expected to close on February 28, 2023.
Huntsman Corporation (NYSE: HUN) announced a $0.2375 per share cash dividend, reflecting a 12% increase from the prior dividend. The dividend is payable on March 31, 2023 to shareholders recorded as of March 15, 2023.
The company also scheduled its 2023 Annual Meeting of Stockholders for April 21, 2023, at 9:00 AM Central Time. Shareholders of record as of February 27, 2023 can vote.
Executive VP and CFO Phil Lister highlighted the company’s strong balance sheet and expected proceeds from the sale of Textile Effects, reinforcing its commitment to shareholder value.