Huntsman Corp. has revealed that fourth quarter 2010 revenues were $2,412 million, an increase of 17% compared to $2,064 million for the same period in 2009 and a slight increase compared to $2,401 million for the third quarter of 2010. Adjusted EBITDA for the fourth quarter of 2010 was $219 million, compared to $174 million for the same period in 2009 and $273 million for the third quarter of 2010. Adjusted net income for the fourth quarter 2010 was $58 million, vs. $78 million for the same period in 2009 and adjusted net income of $83 million for the third quarter of 2010.
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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Huntsman Fourth Quarter Revenue Up 17%
February 22, 2011