Huntsman Updates Its Third Quarter 2020 Outlook
THE WOODLANDS, Texas, Sept. 8, 2020 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) management will be participating in several investor meetings over the coming weeks including the UBS Virtual Global Chemicals Conference on September 9, 2020 and the RBC Capital Markets Global Industrials Virtual Conference on September 15, 2020. Huntsman management intends to communicate that its Polyurethanes segment third quarter 2020 adjusted EBITDA is expected to be at least 40% better than what it guided on its second quarter earnings call, or near the prior year third quarter period. This improved outlook is being driven by continued strength in construction related markets, better than expected improvement in automotive demand and higher overall margins. Huntsman's other divisions, in total, are expected to be approximately in-line with the guidance that was previously communicated on its second quarter conference call on July 28, 2020.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately $7 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.
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.
SOURCE Huntsman Corporation
Released September 8, 2020