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Huntsman Q4 profit surges, expects higher earnings in FY17

February 16/2017

MOSCOW (MRC) -- Huntsman Corp.announced a surge in fourth quarter net income attributed to the company to USD128 million from USD4 million last year, said Rttnews.

On an adjusted basis, earnings were USD72 million. On a per share basis, earnings were USD0.53, from USD0.02 a year ago.

On average, 12 analysts polled by Thomson Reuters expected the company to earn USD0.25 per share. Analysts estimates usually exclude special items.

Revenue for the quarter increased to USD2.395 billion from USD2.332 billion a year ago. Analysts were looking for USD2.25 billion.

Peter R. Huntsman, president and CEO said, "As TiO2 prices have rebounded, our Pigments and Additives division saw earnings double from 2015 and we expect earnings to improve meaningfully in 2017, due largely to price increases in TiO2 and the cumulative benefits of restructuring."

As MRC informed earlier, Huntsman Corporation has joined the American Chemistry Council (ACC), and President and CEO Peter Huntsman has been appointed to ACC's Executive Committee and Board of Directors.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2015 revenues of more than USD10 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 100 manufacturing and R&D facilities in approximately 30 countries and employ approximately 15,000 associates within our 5 distinct business divisions including the Pigments and Additives division that we intend to spin-off as Venator Materials Corporation.
Author:Anna Larionova
Tags:dioksid titana, petroleum products, petrochemistry, Crude oil, Huntsman, USA.
Category:General News
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