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.
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
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