01.08.2012 • NewsHuntsmanQ2 2012sales and profits

Huntsman Results Beat on Demand for Polyurethane Foam

Chemical maker Huntsman's net profit rose 9% in the second quarter, driven by strong demand for polyurethanes used in foam insulation.

Net income rose to $124 million, or 52 cents per share, from $114 million, or 47 cents per share, a year earlier, the company said on Wednesday.

Excluding restructuring charges and other one-time items, Huntsman earned 58 cents per share.

By that measure, analysts on average expected 54 cents per share, according to Thomson Reuters I/B/E/S.

Revenue dipped 0.7% to $2.91 billion. Analysts expected $3.02 billion.

Sales and earnings in the company's polyurethane unit jumped sharply, helped by sales of foam for cushions to automakers like BMW.

Chief Executive Officer Peter Huntsman said the company had yet to see all the benefits from its ongoing restructuring program.

 

 

Free Virtual Event

Sustainability in Bioprocessing
Bioprocess Forum

Sustainability in Bioprocessing

Join us to explore hot topics in sustainable bioprocessing like the industrial potential of enzymatic synthesis, innovative biocatalysis techniques, and the use of digital twins in bioprocessing.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.