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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 received all regulatory approvals necessary to finalize the sale of its Textile Effects division to Archroma, expected to close on February 28, 2023. The sale price is $593 million in cash, along with assumed pension liabilities. Huntsman anticipates net cash proceeds of approximately $540 million after tax and customary adjustments. CEO Peter Huntsman expressed gratitude towards the employees for their dedication in bringing the deal to completion. This transaction aims to create a leading textile chemicals and dyes company.
Huntsman Corporation (NYSE: HUN) has scheduled a conference call for February 21, 2023, at 10:00 a.m. ET to discuss its fourth quarter 2022 financial results, which will be available earlier that morning at 6:00 a.m. ET. Interested parties can access the call via webcast and find accompanying presentation slides on Huntsman's investor relations website. Huntsman is a leading global manufacturer of specialty chemicals, with approximately $8 billion in revenues for 2021 and operations in 30 countries.
Huntsman Corporation (NYSE: HUN) declared a $0.2125 per share cash dividend on its common stock, payable on December 30, 2022, to stockholders of record as of December 15, 2022. In 2021, Huntsman generated approximately $8 billion in revenues, operating over 70 facilities across 30 countries with around 9,000 employees. This dividend announcement reflects the company's ongoing commitment to returning value to shareholders.
Huntsman Corporation (NYSE: HUN) reported third quarter 2022 results with revenues of $2,011 million, down 4% from the previous year. Net income decreased to $115 million, or $0.50 per diluted share. Adjusted net income was $141 million, with an adjusted EBITDA of $271 million. Free cash flow improved significantly to $228 million. The company plans to sell its Textile Effects division for $718 million and has expanded cost improvement initiatives to $280 million in response to rising energy costs in Europe. Overall, the business environment remains challenging, particularly in Europe.
Huntsman Corporation (NYSE: HUN) will hold a conference call on November 4, 2022, at 8:00 a.m. ET to discuss its third-quarter 2022 financial results, releasing them at 6:00 a.m. ET. Domestic callers can join at (877) 402-8037 while international callers can use (201) 378-4913. The call will feature presentation slides available through the webcast and on Huntsman's investor relations website. The company, a global manufacturer of specialty chemicals, reported approximately $8 billion in revenues for 2021.
Huntsman (NYSE: HUN) provided an update during its second quarter earnings call, forecasting third quarter adjusted EBITDA between $310 million and $355 million, excluding Textile Effects. Adjusted EBITDA from continuing operations is expected to be between $260 million and $280 million. The company is facing challenges due to high energy costs in Europe, lower demand in key segments, and sluggish economic conditions in China. Nevertheless, Huntsman anticipates achieving approximately $170 million in annualized cost savings by year-end.
Huntsman Corporation (NYSE: HUN) announced a definitive agreement to sell its Textile Effects division to Archroma for approximately $718 million. This figure includes around $125 million in net underfunded pension liabilities. For the last twelve months ending June 30, 2022, the division reported sales of $772 million and adjusted EBITDA of $94 million. The transaction, which is expected to close in the first half of 2023, is anticipated to incur cash taxes of about $50 million.
Huntsman Corporation (NYSE: HUN) has declared a $0.2125 per share cash dividend on common stock, payable on September 30, 2022, to shareholders on record as of September 15, 2022. The company reported revenues of approximately $8 billion in 2021 and operates over 70 manufacturing and R&D facilities globally. Huntsman specializes in the production of differentiated and specialty chemicals, serving diverse consumer and industrial markets.
Huntsman Corporation reported strong second quarter 2022 results, with revenues reaching $2,362 million, a 17% increase from the previous year. Net income was $242 million or $1.10 per diluted share, up from $172 million or $0.70 a year earlier. Adjusted EBITDA rose 29% to $432 million. Free cash flow was notably positive at $162 million, contrasting with a cash outflow previously. The company repurchased approximately $291 million of shares. Despite macroeconomic challenges, Huntsman maintains a strong financial outlook.
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