Revenue Down for Huntsman in Second Quarter
Huntsman Corp. recently reported second quarter 2013 results. Revenues were $2,830 million, compared to $2,914 in the same period last year. Adjusted EBITDA was $304 million, a decrease of $72 million, compared to $376 million in the prior year. Adjusted EBITDA increased $84 million vs. $220 million in the prior quarter. Net income attributable to Huntsman Corp. was $47 million, compared to net income of $124 million in the prior year period and net loss of $24 million in the prior quarter.
“I am pleased with the quality of our second quarter results,” said Peter R. Huntsman, president and CEO. “Excluding the approximate $25 million negative impact from the force majeure at our European MDI facility, and with the exception of our TiO2 Pigments division, all of our divisions improved year over year and compared to the prior quarter’s performance. We are starting to see the benefits of our restructuring efforts within our Textile Effects and Advanced Materials divisions. I am also impressed with the strong earnings from our Performance Products division following the planned maintenance closure earlier in the year.”
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