Huntsman Corp Stock Price, News & Analysis

Huntsman Corporation (NYSE: HUN) announced a cash dividend of $0.2125 per share on its common stock, set for payment on June 30, 2022, to stockholders on record as of June 15, 2022. The company reported revenues of approximately $8 billion in 2021 and operates over 70 facilities worldwide. Huntsman specializes in differentiated and specialty chemicals, with a broad range of products sold in diverse markets.

Huntsman Corporation (NYSE: HUN) has been awarded $93.9 million by a New Orleans jury in a lawsuit against Praxair/Linde, stemming from supply failures at Huntsman's Geismar, Louisiana site. The total damages, including interest, are expected to exceed $125 million. The lawsuit, initiated in 2014, highlighted Praxair's failure to maintain its facility and fulfill contractual obligations. This verdict follows a previous victory against Albemarle, marking significant legal success for Huntsman in recent months, reinforcing its commitment to ensuring shareholder value.

Huntsman Corporation (HUN) reported a robust first quarter in 2022, achieving revenues of $2,389 million, a 30% increase from $1,837 million in Q1 2021. The net income surged to $240 million compared to $100 million a year ago, translating to diluted EPS of $1.04. Adjusted net income was $256 million, with an adjusted EBITDA of $415 million and a margin of 17%. The company has improved its financial flexibility with increased cash flow, a 13% dividend hike, and a doubled share repurchase authorization of $2 billion.

Huntsman Corporation (NYSE: HUN) publicly addressed a lawsuit filed by two former employees claiming racial discrimination and wrongful termination. The company states these allegations are false, asserting that the ex-employees were dismissed for misconduct after a thorough investigation revealed unauthorized behavior. Huntsman emphasizes its commitment to combating discrimination and claims no racial motives were involved in the terminations. The company will robustly defend itself against these allegations, asserting its reputation and integrity.

Huntsman will hold a conference call on April 28, 2022, at 10:00 a.m. ET to discuss its first quarter 2022 financial results, releasing them at 6:00 a.m. ET that day. Investors can access the call via a webcast link and presentation slides will be available on Huntsman's investor relations website. The company, known for its specialty chemicals, reported $6 billion in revenue in 2020 and operates globally across various industries.

Huntsman Corporation (NYSE: HUN) has announced a significant increase in its share repurchase program, doubling the authorization from $1 billion to $2 billion.

As of December 31, 2021, the company had already repurchased $102 million under the initial program. The $2 billion total represents about 25% of Huntsman's market capitalization as of March 25, 2022. Huntsman is set to repurchase approximately $1 billion of this amount in 2022, while maintaining a strong balance sheet with $2.5 billion in liquidity and a low debt-to-EBITDA ratio of 0.4x.

Huntsman Corporation announced preliminary results from its 2022 Annual Meeting of Stockholders, where all 10 director nominees were elected to the Board. This outcome reflects shareholder support for Huntsman's strategy focusing on 'value over volume' and the company's improved financial health. Chairman Peter R. Huntsman emphasized ongoing shareholder engagement and recognized the contributions of departing directors. The final voting results will be certified by the independent Inspector of Elections and reported via Form 8-K to the SEC.

Starboard Value LP, a significant shareholder of Huntsman Corporation (NYSE: HUN) with an 8.8% stake, has issued an open letter to Huntsman shareholders. The letter expresses disappointment over recent election results, noting less than 50% support for the company's nominees. Starboard has outlined several promises made by Huntsman, including a target of $1.4 billion in Adjusted EBITDA for 2022, maintaining an EBITDA to Free Cash Flow conversion of at least 40%, and commitments to various segment-level EBITDA margins by 2024. Additionally, there is a promise for a $1 billion share repurchase program by the end of 2023.

Huntsman has partnered with Joe Nimble and Footwear Innovation Lab to launch the Ultreya, a high-performance running shoe designed for long-distance runners. This shoe features toefreedom technology and a midsole made from nmblFOAM®—a dual-density polyurethane that enhances comfort and minimizes injury risk. The Ultreya aims to provide better stability and natural foot function while reducing manufacturing impact. The first batch was made in Portugal, with plans for production in Germany starting Autumn 2022. Joe Nimble will sponsor the upcoming Badwater 135 marathon, using Ultreya as the official shoe.