Huntsman Corp. recently released its third-quarter 2024 results, reporting revenues of $1,540 million, compared to $1,506 million in the same quarter of 2023. The company reported a net loss attributable to Huntsman of $33 million, compared to a net loss of 0 in the same period in 2023. Adjusted net income attributable to Huntsman was $17 million, compared to $27 million in the third quarter of 2023. and adjusted EBITDA was $131 million, compared to $136 million in the prior year period. 

Peter R. Huntsman, chairman, president, and CEO of the company, said, "The third quarter was consistent with our outlook of a stable environment at trough conditions in our core construction and industrial markets. Total volumes for the company did improve 5% in the quarter versus the prior year, with stable margins sequentially. Construction and transportation account for approximately three quarters of our volumes, and we expect near-term trough conditions to persist through a seasonally lower fourth quarter. For the medium- to long-term, interest rate cuts by the Federal Reserve and ECB, combined with government stimulus in China, should have a positive impact across our global portfolio, primarily in construction. In the meantime, we are focused on what we control — improving our cost position and our balance sheet strength to maintain optionality to invest in our core businesses in a disciplined manner. We were pleased by the success of our strong bond offering in the third quarter, which points to the long-term strength of our portfolio and anticipation of market improvements in the coming years."

The company saw an increase in revenues in its Polyurethanes segment for the three months ended September 30, 2024, compared to the same period of 2023. The increase was primarily due to higher sales volumes, partially offset by lower MDI average selling prices. Sales volumes increased primarily due to improved demand and share gains in certain markets. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. The decrease in segment adjusted EBITDA was primarily due to lower MDI average selling prices and lower equity earnings from Huntsman's minority-owned joint venture in China, partially offset by lower fixed costs and higher sales volumes.

The increase in revenues in the company's Performance Products segment for the three months ended September 30, 2024, compared to the same period of 2023 was primarily due to higher sales volumes, partially offset by lower average selling prices. Sales volumes increased primarily due to improved demand in fuels and lubes and coatings and adhesives markets. Average selling prices decreased primarily due to competitive pressure. The decrease in segment adjusted EBITDA was primarily due to lower average selling prices and unfavorable sales mix, partially offset by higher sales volumes and lower fixed costs.

The decrease in revenues in Huntsman’s Advanced Materials segment for the three months ended September 30, 2024, compared to the same period of 2023 was primarily due to lower average selling prices, partially offset by higher sales volumes. Average selling prices decreased primarily due to unfavorable sales mix. Sales volumes increased in Huntsman’s aerospace and coatings markets driven by market recovery, partially offset by lower demand in its industrial market. The decrease in segment adjusted EBITDA was primarily due to higher fixed costs.

For the three months ended September 30, 2024, adjusted EBITDA from Corporate and other was a loss of $34 million as compared to a loss of $41 million for the same period of 2023. The increase in adjusted EBITDA from Corporate and other resulted primarily from decreases in corporate overhead costs and unallocated foreign currency exchange losses, partially offset by an increase in LIFO valuation losses.

Learn more about Huntsman at www.huntsman.com.