Huntsman Corp Stock Price, News & Analysis

On February 17, 2022, Starboard Value LP, holding approximately 8.6% of Huntsman Corporation's shares, expressed concerns in a letter to the company regarding repeated inquiries about their nomination of four independent director candidates for the upcoming Annual Meeting. Starboard asserts that it has thoroughly disclosed all information related to its nominees and criticizes Huntsman's Board for continued questioning. Starboard emphasizes the need for a reconstituted Board to enhance accountability and shareholder value.

Huntsman Corporation reported strong fourth quarter 2021 results, achieving $2,307 million in revenues and net income of $607 million, a significant increase from $360 million in Q4 2020. Adjusted diluted EPS rose to $0.95 from $0.51. The company experienced a 45% increase in adjusted EBITDA, reaching $349 million. Free cash flow for the quarter was $698 million, supported by a $332.5 million arbitration settlement. A 13% dividend increase was also announced, reflecting a commitment to shareholder returns. Huntsman anticipates further growth in 2022.

Huntsman Corporation (NYSE: HUN) has declared a $0.2125 per share cash dividend, marking a 13% increase compared to the previous dividend. The dividend is scheduled for payment on March 31, 2022, for stockholders on record as of March 15, 2022. Chairman and CEO Peter Huntsman confirmed that this decision reflects the company’s strong business results and outlook, emphasizing their commitment to providing value to shareholders.

Huntsman Corporation (NYSE: HUN) filed its preliminary proxy materials with the SEC for the Annual Meeting of Stockholders on March 25, 2022. The Board has completed a refreshment plan since 2017, appointing eight new independent directors, including three in January 2022. Huntsman has engaged with Starboard to avoid a proxy contest, but faced challenges in collaboration. The company believes that its strategic initiatives align with suggestions from Starboard, which include a 15% dividend increase in April 2021 and a $1 billion share repurchase authorization. Huntsman remains committed to shareholder interests.

Huntsman Corporation (NYSE: HUN) has announced a series of strategic initiatives aimed at enhancing shareholder value. These include initiating a strategic review of the Textile Effects Division, authorizing $1 billion in share repurchases over the next three years, implementing a multi-year incentive compensation program, and completing a Board refreshment process with independent directors. The company has divested around 40% of its businesses, generating significant shareholder returns, outperforming the S&P 500.

Starboard Value LP, owning approximately 8.6% of Huntsman Corporation (HUN), has nominated four director candidates for the 2022 Annual Meeting. The investment firm cites opportunities for enhancing Huntsman's operational performance and capital allocation to unlock shareholder value. Starboard criticizes the company's historical underperformance and lack of execution on financial targets, highlighting a $350 million decline in Adjusted EBITDA since 2014. The firm believes that fresh board representation is essential for restoring investor confidence and improving Huntsman's valuation.

Huntsman Corporation (NYSE: HUN) has appointed David B. Sewell to its Board of Directors, enhancing its leadership team with his extensive experience in the materials sector. This move aligns with Huntsman's ongoing Board succession plan and follows a strategic review of its Textile Effects Division aimed at boosting shareholder value. The appointment marks the addition of the sixth independent director in 18 months, following the recent retirements of long-standing board members. Huntsman emphasizes its commitment to achieving ambitious financial targets set during the November Investor Day.

Huntsman Corporation (NYSE: HUN) will host a conference call on February 15, 2022, at 10:00 a.m. ET to review its fourth quarter 2021 financial results, which will be disclosed at 6:00 a.m. ET the same day. Participants can join via a webcast link or by using dial-in numbers for domestic and international callers. Huntsman reported revenues of approximately $6 billion in 2020 and operates more than 70 facilities globally with about 9,000 employees.

Huntsman Corporation (NYSE: HUN) announced the appointment of Curtis E. Espeland and José Muñoz as new independent directors, effective January 1, 2022. Cynthia L. Egan is now the Lead Independent Director, while Sonia Dulá joins the Compensation Committee. These changes are part of Huntsman’s director succession plan aimed at improving governance and aligning with its strategic growth goals. The company also announced upcoming retirements of three directors, effective at the 2022 Annual Meeting of Stockholders on March 25, 2022, signifying ongoing board refreshment and commitment to shareholder value.