Huntsman Fourth Quarter Revenue Up 17%
Revenues for 2010 were $9,250 million, compared to $7,665 million for 2009. Adjusted net income for 2010 was $200 million, compared to adjusted net loss of $303 million for 2009. Adjusted EBITDA for 2010 was $872 million, compared to $529 million for 2009.
“Our fourth quarter 2010 adjusted EBITDA was greater than any of our previous fourth quarters,” said Peter R. Huntsman, president and CEO. “While pleased with the positive results, I am more encouraged by the underlying trends within our businesses. Average selling prices increased on a sequential basis within our largest businesses, and our capacity utilization rates are improving on a seasonally adjusted basis. This past November, we announced our expectation to achieve adjusted EBITDA of $1.325 billion within the next two to three years. Given current improving global economic trends, I continue to be confident that we can achieve these earnings.”
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