Huntsman Corp. recently reaffirmed its general outlook for the 2020 second quarter and announced that overall sales for the quarter are expected to be down between approximately 30-35% compared to last year’s quarter. Huntsman noted that the sales trends showed improvement from April to May, and it expects to see this continued improvement through June.
Results in Huntsman’s Polyurethanes division are expected to be modestly better than expected as trends in China and in U.S. construction, including spray foam, are better than originally anticipated. The better-than-expected results in Polyurethanes are being mostly offset by weaker-than-anticipated results in Huntsman’s Textiles Effects division, due largely to the prolonged impact of mandated shutdowns in key textile manufacturing regions. The expected recovery in the industry reportedly may not begin until the third quarter due to continued lockdowns.
Huntsman expects that results in the Performance Products division will be in line with the prior outlook. However, results in the Advanced Materials division may fall a little short of expectations as a result of a deeper trough in Aerospace, Europe, and India than anticipated at the time of its last quarterly earnings call.
For more information, visit www.huntsman.com.