NEWS
Huntsman Releases Second Quarter 2010 Results

IMPROVED DEMAND LEADS TO SECOND QUARTER EARNINGS OF: $116 MILLION IN NET INCOME AND $257 MILLION IN ADJUSTED EBITDA

Second Quarter 2010 Highlights 

  • Revenues for the second quarter of 2010 were $2,343 million, an increase of 27% compared to $1,846 million for the same period in 2009 and an increase of 12% compared to $2,094 million for the first quarter of 2010.
  • Adjusted EBITDA for the second quarter of 2010 was $257 million compared to $93 million for the same period in 2009 and $123 million for the first quarter of 2010.
  • Net income attributable to Huntsman Corporation for the second quarter of 2010 was $114 million or $0.47 per diluted share.  This compares to net income attributable to Huntsman Corporation of $406 million or $1.51 per diluted share for the same period in 2009 (including $531 million of net income or $2.27 per diluted share related to our terminated merger and related litigation) and $172 million loss or $0.73 loss per diluted share for the first quarter of 2010.
  • Adjusted net income for the second quarter of 2010 was $75 million or $0.31 per diluted share.  This compares to an adjusted net loss of $66 million or $0.28 loss per diluted share for the same period in 2009 and adjusted net loss of $16 million or $0.07 loss per diluted share for the first quarter of 2010.
  • Adjusted net income and adjusted EBITDA for the second quarter 2010 includes a non-recurring $15 million pre-tax benefit to appropriately reflect our investment in the Sasol-Huntsman maleic anhydride joint venture.  Adjusted net income also includes a $15 million pre-tax one time reduction to interest expense related to a cross currency swap.  The combined effect of these non-recurring items was approximately $0.09 per diluted share.

Download the full release here (PDF, 143K b) 


 
 
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