News Releases

Huntsman Announces Strong Second Quarter 2021 Earnings

THE WOODLANDS, Texas, July 30, 2021 /PRNewswire/ --

Second Quarter Highlights

  • Second quarter 2021 net income of $172 million compared to net loss of $59 million in the prior year period; second quarter 2021 diluted earnings per share of $0.70 compared to loss per share of $0.28 in the prior year period.
  • Second quarter 2021 adjusted net income of $191 million compared to adjusted net loss of $30 million in the prior year period; second quarter 2021 adjusted diluted earnings per share of $0.86 compared to adjusted loss per share of $0.14 in the prior year period.
  • Second quarter 2021 adjusted EBITDA of $334 million compared to adjusted EBITDA of $54 million in the prior year period.
  • Second quarter 2021 net cash used in operating activities from continuing operations was $7 million. Free cash flow from continuing operations was a use of $83 million for the second quarter 2021.
  • Balance sheet is strong with a net leverage of 1.0x and total liquidity of approximately $1.9 billion. On May 26, 2021, the Company completed a $400 million offering of 2.95% senior notes due 2031. The net proceeds from the offering, along with cash on hand, were used to redeem in full $400 million in aggregate principal amount of the Company's 5.125% senior notes due 2022. These actions will reduce Huntsman's annual cash interest expense by approximately $9 million.
  • Received the $28 million earnout in May 2021 from the November 2020 divestiture of our India-based do-it-yourself consumer adhesives business. Gross proceeds from the divestiture totaled approximately $285 million, a 15x multiple on 2019 adjusted EBITDA of the divested business.

 

Three months ended

Six months ended

June 30,

June 30,

In millions, except per share amounts

2021

2020

2021

2020

Revenues

$     2,024

$     1,247

$     3,861

$     2,840

Net income (loss)

$        172

$        (59)

$        272

$        649

Adjusted net income (loss) (1)

$        191

$        (30)

$        338

$         35

Diluted income (loss) per share

$       0.70

$     (0.28)

$       1.07

$       2.90

Adjusted diluted income (loss) per share(1)

$       0.86

$     (0.14)

$       1.52

$       0.16

Adjusted EBITDA(1)

$        334

$         54

$        623

$        219

Net cash (used in) provided by operating activities from continuing operations

$          (7)

$         85

$        (23)

$         45

Free cash flow from continuing operations(2)

$        (83)

$         30

$      (197)

$        (71)

Adjusted free cash flow from continuing operations(6)

$        (80)

$         38

$      (194)

$        (61)


See end of press release for footnote explanations and reconciliations of non-GAAP measures.

Huntsman Corporation (NYSE: HUN) today reported second quarter 2021 results with revenues of $2,024 million, net income of $172 million, adjusted net income of $191 million and adjusted EBITDA of $334 million. 

Peter R. Huntsman, Chairman, CEO and President, commented:

"We are pleased with second quarter earnings as demand in many of our businesses returned to pre-pandemic levels. The recent acquisitions and synergies already captured in Gabriel, CVC and our Huntsman Building Solutions franchise and several cost optimization initiatives that are well underway, are all contributing to our earnings improvement. We are also making good progress on our organic capital investments, including our MDI splitter project in Geismar, Louisiana, which we now expect to start up in early 2022. We are focused on delivering a strong EBITDA performance and high free cash flow in the second half of 2021.  We remain committed to maintain a strong balance sheet and a balanced deployment of our capital including further investments to secure growth. We will showcase our strategic initiatives and the continued transformation of the entire portfolio at our New York City Investor Day on November 9, 2021."

Segment Analysis for 2Q21 Compared to 2Q20

Polyurethanes

The increase in revenues in our Polyurethanes segment for the three months ended June 30, 2021 compared to the same period of 2020 was largely due to higher MDI average selling prices and higher sales volumes. MDI average selling prices increased mostly in China and Europe. Sales volumes increased primarily due to stronger demand in relation to the ongoing recovery from the global economic slowdown, partially offset by the scheduled turnaround at our Rotterdam, Netherlands facility. The increase in segment adjusted EBITDA was primarily due to higher MDI margins resulting from higher MDI pricing and higher sales volumes as well as stronger earnings from our PO/MTBE joint venture in China, partially offset by higher raw material costs. 

Performance Products

The increase in revenues in our Performance Products segment for the three months ended June 30, 2021 compared to the same period of 2020 was primarily due to higher average selling prices and higher sales volumes. Average selling prices increased primarily due to stronger demand in relation to the ongoing recovery from the global economic slowdown as well as in response to an increase in raw material costs. Sales volumes also increased primarily due to stronger demand. The increase in segment adjusted EBITDA was primarily due to increased revenue and margins, partially offset by increased fixed costs.

Advanced Materials

The increase in revenues in our Advanced Materials segment for the three months ended June 30, 2021 compared to the same period in 2020 was primarily due to higher sales volumes, higher average selling prices and the favorable net impact of our recent acquisitions and divestiture. Excluding our recent acquisitions and divestiture and except for our global aerospace business, sales volumes increased across all our specialty markets, primarily in relation to the ongoing recovery from the global economic slowdown. Average selling prices increased largely due to the impact of a weaker U.S. dollar against major international currencies and in response to higher raw material costs. The increase in segment adjusted EBITDA was primarily due to higher sales volumes and the benefit from our recent acquisitions.

Textile Effects

The increase in revenues in our Textile Effects segment for the three months ended June 30, 2021 compared to the same period of 2020 was due to higher sales volumes, partially offset by lower average selling prices. Sales volumes increased primarily due to increased demand resulting from the ongoing recovery from the global economic slowdown, particularly in Asia. The increase in segment adjusted EBITDA was primarily due to higher sales revenues.

Corporate, LIFO and other

For the three months ended June 30, 2021, adjusted EBITDA from Corporate and other decreased by $16 million to a loss of $48 million from a loss of $32 million for the same period of 2020.

Liquidity and Capital Resources

During the three months ended June 30, 2021, our adjusted free cash flow from continuing operations was a use of $80 million as compared to positive adjusted free cash flow from continuing operations of $38 million in the prior year period.  As of June 30, 2021, we had approximately $1.9 billion of combined cash and unused borrowing capacity.

During the three months ended June 30, 2021, we spent $76 million on capital expenditures as compared to $55 million in the same period of 2020.  For 2021 we expect to spend approximately $355 million to $360 million on capital expenditures.  The increase in capital expenditures is related to accelerated spending on our splitter investment at our Geismar, Louisiana facility. 

Income Taxes

In the second quarter 2021, our adjusted effective tax rate was 20%.  For 2021, our adjusted effective tax rate is expected to be approximately 22% - 24%. 

Earnings Conference Call Information

We will hold a conference call to discuss our second quarter 2021 financial results on Friday July 30, 2021 at 10:00 a.m. ET.

Webcast link: https://78449.themediaframe.com/dataconf/productusers/hun/mediaframe/45633/indexl.html

Participant dial-in numbers:

Domestic callers: 

(877) 402-8037

International callers:

(201) 378-4913

The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, ir.huntsman.com.  Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.

Upcoming Conferences
During the third quarter 2021, a member of management is expected to present at:
Jefferies Virtual Industrials Conference on August 3, 2021
Seaport Virtual Summer Conference on August 24, 2021
UBS Chemicals Virtual Conference on September 8, 2021

A webcast of the presentation, if applicable, along with accompanying materials will be available at ir.huntsman.com.

Table 1  Results of Operations

Three months ended

Six months ended

June 30,

June 30,

In millions, except per share amounts

2021

2020

2021

2020

Revenues

$     2,024

$     1,247

$     3,861

$     2,840

Cost of goods sold

1,593

1,085

3,038

2,381

Gross profit

431

162

823

459

Operating expenses, net

211

212

453

452

Restructuring, impairment and plant closing costs

11

19

35

22

Operating income (loss)

209

(69)

335

(15)

Interest expense

(18)

(21)

(37)

(39)

Equity in income of investment in unconsolidated affiliates

46

2

84

4

Fair value adjustments to Venator investment

(6)

4

(25)

(106)

Loss on early extinguishment of debt

(27)

-

(27)

-

Other income, net

9

7

16

17

Income (loss) from continuing operations before income taxes

213

(77)

346

(139)

Income tax (expense) benefit

(42)

13

(76)

6

Income (loss) from continuing operations

171

(64)

270

(133)

Income from discontinued operations, net of tax(3)

1

5

2

782

Net income (loss)

172

(59)

272

649

Net income attributable to noncontrolling interests, net of tax

(16)

(3)

(33)

(6)

Net income (loss) attributable to Huntsman Corporation

$        156

$        (62)

$        239

$        643

Adjusted EBITDA(1)

$        334

$         54

$        623

$        219

Adjusted net income (loss)(1)

$        191

$        (30)

$        338

$         35

Basic income (loss) per share

$       0.71

$     (0.28)

$       1.08

$       2.90

Diluted income (loss) per share

$       0.70

$     (0.28)

$       1.07

$       2.90

Adjusted diluted income (loss) per share(1)

$       0.86

$     (0.14)

$       1.52

$       0.16

Common share information:

Basic weighted average shares

221

220

221

221

Diluted weighted average shares

223

220

223

221

Diluted shares for adjusted diluted income per share

223

220

223

223

See end of press release for footnote explanations.

 

Table 2  Results of Operations by Segment

Three months ended

Six months ended

June 30,

Better /

June 30,

Better /

In millions

2021

2020

(Worse)

2021

2020

(Worse)

Segment Revenues:

Polyurethanes

$     1,155

$        730

58%

$     2,223

$     1,618

37%

Performance Products

371

228

63%

676

520

30%

Advanced Materials

299

192

56%

577

433

33%

Textile Effects

207

102

103%

400

282

42%

Corporate and Eliminations

(8)

(5)

n/m

(15)

(13)

n/m

Total

$     2,024

$     1,247

62%

$     3,861

$     2,840

36%

Segment Adjusted EBITDA(1):

Polyurethanes

$        208

$         31

571%

$        415

$        115

261%

Performance Products

88

29

203%

151

87

74%

Advanced Materials

58

30

93%

102

78

31%

Textile Effects

28

(4)

n/m

53

16

231%

Corporate, LIFO and other

(48)

(32)

(50%)

(98)

(77)

(27%)

Total

$        334

$         54

519%

$        623

$        219

184%

n/m = not meaningful

See end of press release for footnote explanations.

 

Table 3  Factors Impacting Sales Revenue

Three months ended

June 30, 2021 vs. 2020

Average Selling Price(a)

Local

Exchange

Sales Mix

Sales

Currency

Rate

& Other

Volume(b)

Total

Polyurethanes

35%

6%

4%

13%

58%

Performance Products

39%

6%

(7%)

25%

63%

Advanced Materials

8%

7%

16%

25%

56%

Textile Effects

(11%)

8%

14%

92%

103%

Six months ended

June 30, 2021 vs. 2020

Average Selling Price(a)

Local

Exchange

Sales Mix

Sales

Currency

Rate

& Other

Volume(b)

Total

Polyurethanes

26%

5%

0%

6%

37%

Performance Products

21%

5%

(5%)

9%

30%

Advanced Materials

5%

5%

6%

17%

33%

Textile Effects

(8%)

4%

6%

40%

42%

(a) Excludes sales from tolling arrangements, by-products and raw materials.

(b) Excludes sales from by-products and raw materials.

 

Table 4  Reconciliation of U.S. GAAP to Non-GAAP Measures

 Income Tax 

 Diluted Income (Loss) 

 EBITDA 

(Expense) Benefit

 Net Income (Loss) 

 Per Share 

Three months ended

Three months ended

Three months ended

Three months ended

June 30,

June 30,

June 30,

June 30,

In millions, except per share amounts

2021

2020

2021

2020

2021

2020

2021

2020

Net income (loss)

$        172

$        (59)

$        172

$        (59)

$       0.77

$      (0.27)

Net income attributable to noncontrolling interests

(16)

(3)

(16)

(3)

(0.07)

(0.01)

Net income (loss) attributable to Huntsman Corporation

156

(62)

156

(62)

0.70

(0.28)

Interest expense from continuing operations

18

21

Income tax expense (benefit) from continuing operations

42

(13)

$        (42)

$          13

Income tax expense from discontinued operations(3)

-

1

Depreciation and amortization from continuing operations

73

69

Business acquisition and integration expenses and purchase accounting inventory adjustments

5

8

-

-

5

8

0.02

0.04

EBITDA / Income from discontinued operations, net of tax(3)

(1)

(6)

 N/A 

 N/A 

(1)

(5)

-

(0.02)

(Gain) loss on sale of businesses/assets

(30)

1

4

-

(26)

1

(0.12)

-

Income from transition services arrangements

(3)

(5)

1

1

(2)

(4)

(0.01)

(0.02)

Fair value adjustments to Venator Investment(a)

6

(4)

-

-

6

(4)

0.03

(0.02)

Loss on early extinguishment of debt

27

-

(6)

-

21

-

0.09

-

Certain legal and other settlements and related expenses

8

4

(2)

(1)

6

3

0.03

0.01

Certain non-recurring information technology project implementation costs

3

1

(1)

-

2

1

0.01

-

Amortization of pension and postretirement actuarial losses

21

19

(5)

(4)

16

15

0.07

0.07

Restructuring, impairment and plant closing and transition costs

12

19

(2)

(3)

10

16

0.04

0.07

Plant incident remediation (credits) costs

(3)

1

1

-

(2)

1

(0.01)

-

Adjusted(1)

$        334

$          54

$        (52)

$            6

$        191

$        (30)

$       0.86

$      (0.14)

Adjusted income tax expense (benefit)(1)

$          52

$          (6)

Net income attributable to noncontrolling interests, net of tax

16

3

Adjusted pre-tax income (loss)(1)

$        259

$        (33)

Adjusted effective tax rate(4)

20%

18%

Effective tax rate

20%

17%

 Income Tax 

 Diluted Income 

 EBITDA 

(Expense) Benefit

 Net Income 

 Per Share 

Six months ended

Six months ended

Six months ended

Six months ended

June 30,

June 30,

June 30,

June 30,

In millions, except per share amounts

2021

2020

2021

2020

2021

2020

2021

2020

Net income

$        272

$        649

$        272

$        649

$       1.22

$       2.93

Net income attributable to noncontrolling interests

(33)

(6)

(33)

(6)

(0.15)

(0.03)

Net income attributable to Huntsman Corporation

239

643

239

643

1.07

2.90

Interest expense from continuing operations

37

39

Income tax expense (benefit) from continuing operations

76

(6)

$        (76)

$            6

Income tax expense from discontinued operations(3)

-

239

Depreciation and amortization from continuing operations

147

136

Business acquisition and integration expenses and purchase accounting inventory adjustments

14

21

(2)

(3)

12

18

0.05

0.08

EBITDA / Income from discontinued operations, net of tax(3)

(2)

(1,021)

N/A

N/A

(2)

(782)

(0.01)

(3.53)

Gain on sale of businesses/assets

(30)

(1)

4

-

(26)

(1)

(0.12)

-

Income from transition services arrangements

(4)

(5)

1

1

(3)

(4)

(0.01)

(0.02)

Fair value adjustments to Venator Investment(a)

25

106

-

-

25

106

0.11

0.48

Loss on early extinguishment of debt

27

-

(6)

-

21

-

0.09

-

Certain legal and other settlements and related expenses

10

6

(3)

(1)

7

5

0.03

0.02

Certain non-recurring information technology project implementation costs

4

2

(1)

-

3

2

0.01

0.01

Amortization of pension and postretirement actuarial losses

43

37

(10)

(8)

33

29

0.15

0.13

Restructuring, impairment and plant closing and transition costs

36

22

(8)

(4)

28

18

0.13

0.08

Plant incident remediation costs

1

1

-

-

1

1

-

-

Adjusted(1)

$        623

$        219

$       (101)

$          (9)

$        338

$          35

$       1.52

$       0.16

Adjusted income tax expense(1)

$        101

$            9

Net income attributable to noncontrolling interests, net of tax

33

6

Adjusted pre-tax income(1)

$        472

$          50

Adjusted effective tax rate(4)

21%

18%

Effective tax rate

22%

4%

(a) Represents the changes in market value in Huntsman's remaining interesting in Venator.

N/A = not applicable

See end of press release for footnote explanations.

 

Table 5  Selected Balance Sheet Items

June 30,

December 31,

In millions

2021

2020

Cash

$               510

$            1,593

Accounts and notes receivable, net

1,122

910

Inventories

1,193

848

Other current assets

209

217

Property, plant and equipment, net

2,551

2,505

Other noncurrent assets

2,921

2,640

Total assets

$            8,506

$            8,713

Accounts payable

$            1,041

$               876

Other current liabilities

529

510

Current portion of debt

44

593

Long-term debt

1,521

1,528

Other noncurrent liabilities

1,486

1,533

Huntsman Corporation stockholders' equity

3,727

3,519

Noncontrolling interests in subsidiaries

158

154

Total liabilities and equity

$            8,506

$            8,713

 

Table 6  Outstanding Debt

June 30,

December 31,

In millions

2021

2020

Debt:

Revolving credit facility

$                 -

$                 -

Accounts receivable programs

-

-

Senior notes

1,491

2,047

Variable interest entities

41

50

Other debt

33

24

Total debt - excluding affiliates

1,565

2,121

Total cash

510

1,593

Net debt - excluding affiliates(5)

$            1,055

$               528

See end of press release for footnote explanations.

 

Table 7 Summarized Statement of Cash Flows

Three months ended

Six months ended

June 30,

June 30,

In millions

2021

2020

2021

2020

Total cash at beginning of period

$            673

$         1,594

$         1,593

$            525

Net cash (used in) provided by operating activities from continuing operations

(7)

85

(23)

45

Net cash used in operating activities from discontinued operations(3)

-

(5)

(1)

(40)

Net cash (used in) provided by investing activities

(46)

(359)

(369)

1,152

Net cash used in financing activities

(112)

(63)

(691)

(417)

Effect of exchange rate changes on cash

2

2

1

(11)

Total cash at end of period

$            510

$         1,254

$            510

$         1,254

Free cash flow from continuing operations(2):

Net cash (used in) provided by operating activities

$              (7)

$             85

$            (23)

$             45

Capital expenditures

(76)

(55)

(174)

(116)

Free cash flow from continuing operations

(83)

30

(197)

(71)

Taxes paid on sale of businesses

3

8

3

10

Adjusted free cash flow from continuing operations(6):

$            (80)

$             38

$          (194)

$            (61)

Supplemental cash flow information:

Cash paid for interest

$            (31)

$            (35)

$            (47)

$            (40)

Cash paid for income taxes

(68)

(19)

(76)

(55)

Cash paid for restructuring and integration

(8)

(9)

(17)

(14)

Cash paid for pensions

(14)

(26)

(28)

(46)

Depreciation and amortization

73

69

147

136

Change in primary working capital:

Accounts and notes receivable

$            (97)

$            213

$          (214)

$            179

Inventories

(176)

171

(332)

79

Accounts payable

79

(257)

173

(196)

Total change in primary working capital

$          (194)

$            127

$          (373)

$             62

See end of press release for footnote explanations.

 

Footnotes

(1)

We use adjusted EBITDA to measure the operating performance of our business and for planning and evaluating the performance of our business segments.  We provide adjusted net income because we feel it provides meaningful insight for the investment community into the performance of our business.  We believe that net income (loss) is the performance measure calculated and presented in accordance with generally accepted accounting principles in the U.S. ("GAAP") that is most directly comparable to adjusted EBITDA and adjusted net income (loss).  Additional information with respect to our use of each of these financial measures follows:

Adjusted EBITDA, adjusted net income (loss) and adjusted diluted income (loss) per share, as used herein, are not necessarily comparable to other similarly titled measures of other companies.

Adjusted EBITDA is computed by eliminating the following from net income (loss):  (a) net income attributable to noncontrolling interests, net of tax; (b) interest; (c) income taxes; (d) depreciation and amortization; (e) amortization of pension and postretirement actuarial losses (gains); (f) restructuring, impairment and plant closing costs (credits); and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted EBITDA in Table 4 above. 

Adjusted net income (loss) and adjusted diluted income (loss) per share are computed by eliminating the after tax impact of the following items from net income (loss): (a) net income attributable to noncontrolling interest; (b) amortization of pension and postretirement actuarial losses (gains); (c) restructuring, impairment and plant closing costs (credits); and further adjusted for certain other items set forth in the reconciliation of net income (loss) to adjusted net income (loss) in Table 4 above.  The income tax impacts, if any, of each adjusting item represent a ratable allocation of the total difference between the unadjusted tax expense and the total adjusted tax expense, computed without consideration of any adjusting items using a with and without approach.

We do not provide reconciliations for adjusted EBITDA, adjusted net income (loss) or adjusted diluted income (loss) per share on a forward-looking basis because we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, (a) business acquisition and integration expenses and purchase accounting adjustments, (b) merger costs, and (c) certain legal and other settlements and related costs. Each of such adjustments have not yet occurred, are out of our control and/or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information. 

(2)

Management internally uses free cash flow measure: (a) to evaluate our liquidity, (b) evaluate strategic investments, (c) plan stock buyback and dividend levels and (d) evaluate our ability to incur and service debt. Free cash flow is defined as net cash provided by operating activities less capital expenditures. Free cash flow is not a defined term under U.S. GAAP, and it should not be inferred that the entire free cash flow amount is available for discretionary expenditures.

(3)

During the third quarter 2019, we entered into an agreement to sell our Chemical Intermediates Businesses. Results from these businesses, including the associated gain on sale, was treated as discontinued operations until the completion of the sale on January 3, 2020.

(4)

We believe adjusted effective tax rate provides improved comparability between periods through the exclusion of certain items that management believes are not indicative of the businesses' operational profitability and that may obscure underlying business results and trends. In our view, effective tax rate is the performance measure calculated and presented in accordance with U.S. GAAP that is most directly comparable to adjusted effective tax rate.

The reconciliation of historical adjusted effective tax rate and effective tax rate is set forth in Table 4 above. We do not provide reconciliations for adjusted effective tax rate on a forward-looking basis because we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, (a) business acquisition and integration expenses, (b) merger costs, and (c) certain legal and other settlements and related costs. Each of such adjustments has not yet occurred, are out of our control and/or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information. 

(5)

Net debt is a measure we use to monitor how much debt we have after taking into account our total cash. We use it as an indicator of our overall financial position, and calculate it by taking our total debt, including the current portion, and subtracting total cash. 

(6)

Adjusted free cash flow is defined as free cash flow, as described above, adjusted by excluding the taxes paid in connection with the sale of our Chemical Intermediates Businesses and the sale of our India-based DIY business.  We believe that adjusted free cash flow provides a useful comparison from period to period because it excludes the impact of cash taxes unrelated to our operations. Additionally, the proceeds received from the sale of our Chemical Intermediates Businesses and the sale of our India-based DIY business were classified as cash provided by investing activities and therefore was not factored into our free cash flow.  As result, we believe the adjustment to exclude the taxes paid associated with these transactions provides a meaningful measure of our free cash flow.

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2020 revenues of approximately $6 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.  

Social Media:
Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-Looking Statements:
Certain information in this release constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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 under the caption "Risk Factors" 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, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions, timing of proposed transactions, and manufacturing optimization improvements in Huntsman businesses and realize anticipated cost savings, and other 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.

Huntsman Corporation Logo (PRNewsfoto/Huntsman Corporation)

 

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SOURCE Huntsman Corporation