US Huntsman Corporation with record earnings

US Huntsman Corporation with record earnings

The third quarter of the ongoing year was a successful, however with lesser sales than a year ago, for American Huntsman Corporation but with record earnings

Huntsman’s revenues settled in the third quarter at USD 2741 million (USD 2976 million and for the nine months of 2012 at USD 8568 million (USD 8589 million). Net income amounted in the third quarter to USD 116 (USD -34 million) and for the nine months at UISD 403 million (USD 142 million) and adjusted EBITDA increased from USD 340 million to USD 484 million, mostly due to improved earnings in the polyurethanes business that also more than offset declines in the pigment business. All other businesses saw increased earnings in comparison with last year.

Sales of Textile Effects were increasing 6 % or from USD 173 million to USD 182 million in the third quarter with increased market share, however partially offset by lower average selling prices. In the first nine months revenues of the segment amounted to USD 562 million (USD 563 million). The loss narrowed in the third quarter and in comparison to last year from USD 29 million to USD 10 million and for the nine months from USD 42 million to USD 23 million.

Huntsman has launched on November 2, 2012 a USD 400 million offering of senior notes due 2020 (4.875 % annual interest up to November 15, 2020) through its wholly owned subsidiary, Huntsman International LLC. The offering’s closure is scheduled for November 19, 2012, and the notes will not been registered under the Securities Act of 1933 and not offered in the U.S. Huntsman intends to use the net proceeds to redeem USD 400 million in aggregate principal amount of its 5.5 Senior Notes due 2015 and to pay associated accrued interest.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.