Huntsman Corp

Latest Results (20.05.2026):

Huntsman Corporation — first quarter 2026: revenues of $1,420 million (+1% year‑over‑year) while reporting a net loss attributable to Huntsman of $53 million (diluted loss per share $0.31). On an adjusted basis, Huntsman posted an adjusted net loss of $35 million (adjusted diluted loss per share $0.20) and adjusted EBITDA of $73 million. Management cited March feedstock volatility from the Middle East conflict, implemented price increases, saw mixed volume trends across segments, and expects profitability to improve in Q2 2026 from higher volumes and margin expansion.

Revenue and earnings

Revenues: $1,420M (Q1 2026) vs $1,410M (Q1 2025). Net loss attributable to Huntsman: $(53)M vs $(5)M prior year. Adjusted net loss: $(35)M vs $(19)M. Adjusted EBITDA: $73M (flat vs $72M). Diluted loss per share: $(0.31); adjusted diluted loss per share: $(0.20).

Cash flow and liquidity

Net cash used in operating activities from continuing operations: $(53)M (improvement vs $(71)M in Q1 2025). Free cash flow: $(91)M (improved from $(107)M). Cash on hand: $369M as of March 31, 2026. Combined cash and unused borrowing capacity: approximately $0.9B. Capital expenditures: $38M in Q1; full‑year 2026 capex expected similar to 2025.

Balance sheet and debt

Total debt (excluding affiliates): $2,056M; net debt excluding affiliates: $1,687M (up from $1,582M at 12/31/25). Total assets: $7,131M; Huntsman stockholders’ equity: $2,681M.

Segment performance

Polyurethanes: revenues $923M (+1%); volumes up (Americas & Europe) but lower average selling prices; segment adjusted EBITDA $39M (-7%). Performance Products: revenues $228M (-11%); adjusted EBITDA $26M (-13%), impacted by lower volumes (including Moers facility closure) and pricing pressure. Advanced Materials: revenues $279M (+12%); adjusted EBITDA $45M (+25%), driven by higher prices, favorable mix, FX and aerospace/power/auto volume gains.

Drivers and one‑time items

March volatility from the Middle East conflict pushed up benzene and European natural gas costs; Huntsman implemented immediate price increases across products/regions to protect margins. Q1 included non‑GAAP adjustments and items (e.g., noncontrolling interests of $12M) that affect GAAP vs adjusted results. Reported effective tax rate was -38%; adjusted effective tax rate was stated as not meaningful for the period.

Outlook and management commentary

Management expects a step up in Q2 2026 profitability from increased volumes and margin expansion driven by global pricing initiatives; continued emphasis on margin improvement, cost reduction and cash flow generation amid unpredictable market conditions.