NEWS
Huntsman Posts Stable 2008 Third Quarter Results

Excluding Impact Of Hurricanes, Adjusted EBITDA Equals 2007 Third Quarter.

Third Quarter 2008 Highlights

  • Revenues for the third quarter of 2008 were $2,730.5 million, an increase of 13% compared to $2,423.8 million for the third quarter of 2007 and a decrease of 6% compared to $2,895.7 million for the second quarter of 2008. 
  • We estimate that we incurred $49 million of costs and lost profit margin as a result of hurricanes during the third quarter of 2008 ($21 million of costs and $28 million of lost profit margin).  This had the effect of decreasing our third quarter 2008 adjusted EBITDA and adjusted net loss by approximately $49 million and $32 million ($0.14 per diluted share), respectively.  
  • Net loss for the third quarter of 2008 was $20.2 million or $0.09 per diluted share compared to a net loss of $150.0 million or $0.68 loss per diluted share for the same period in 2007 and compared to net income of $23.7 million or $0.10 per diluted share for the second quarter of 2008.  Adjusted net loss from continuing operations for the third quarter of 2008 was $1.9 million or $0.01 per diluted share compared to adjusted net income of $80.0 million or $0.34 per diluted share for the same period in 2007 and $19.9 million or $0.09 per diluted share for the second quarter of 2008. 
  • Adjusted EBITDA from continuing operations for the third quarter of 2008 was $193.9 million (and would have been approximately $242.9 without the hurricane impact) compared to $240.2 million for the same period in 2007 and compared to $209.8 million for the second quarter of 2008. 

Click here to view the press release in its entirety. (PDF, 154Kb)


 
 
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