FOR IMMEDIATE RELEASE
July 30, 2014
Huntsman Sees Meaningful Improvements Across its Business as Adjusted EBITDA Increases 19 Percent Compared to Prior Year
Second Quarter 2014 Highlights
- Adjusted EBITDA was $363 million compared to $304 million in the prior year period, an improvement of 19%.
- Adjusted diluted income per share was $0.59 compared to $0.39 in the prior year period.
- Net income attributable to Huntsman Corporation was $119 million compared to $47 million in the prior year period.
THE WOODLANDS, Texas – Huntsman Corporation (NYSE: HUN) today reported second quarter 2014 results with revenues of $2,988 million and adjusted EBITDA of $363 million.
Peter R. Huntsman, our President and CEO, commented:
"We saw strong earnings in the second quarter as a result of increased demand for key products such as MDI and amines and higher selling prices for many of our products. We also benefited from restructuring efforts in our Advanced Materials and Textile Effects businesses. These results are well in line with our earlier forecast of substantial earnings growth in the next two to three years.
We are working closely with the European Commission in its review of the proposed acquisition of Rockwood Holding's Performance Additives and Titanium Dioxide businesses. We have proposed certain remedies we believe address the Commission's concerns and are confident that final approval will be secured by the end of the third quarter."
Click here to see the full news release on the second quarter 2014 results.
on is a publicly traded global manufacturer and marketer of differentiated chemicals with 2012 revenues of over $11 billion. Our chemical products number in the thousands and are sold worldwide to meet the needs of consumers and manufacturers serving a broad range of end markets. We operate more than 75 manufacturing and R&D facilities in 30 countries and employ approximately 12,000 associates within our 5 distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors.The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.