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Huntsman ups Q4 guidance on broad gains

December 14/2020

MOSCOW (MRC) -- Huntsman (The Woodlands, Texas) has updated its fourth-quarter outlook citing gains in all segments. The company now expects fourth-quarter adjusted EBITDA to increase 20–25% year-over-year (YOY), exceeding previous guidance, as per Chemweek.

Huntsman’s fourth-quarter 2019 adjusted EBITDA totaled USD182 million, down 12% YOY from USD207 million.

At the time of its third-quarter earnings release, Huntsman forecast fourth-quarter adjusted EBITDA in the polyurethanes segment “in line” with the third quarter’s USD156 million. The company now expects an increase of at least 20% owing to stronger than expected overall demand as well as higher methylene di-para-phenylene diisocyanate (MDI) component margins, particularly in Asia.

For the performance products segment, Huntsman has increased its adjusted EBITDA forecast from “near flat” versus the third quarter’s USD36 million to an increase of at least 15%, and for the advanced materials segment, from a slight decline from the third quarter’s USD25 million to “approximately in-line.”

Huntsman expects adjusted EBITDA in the textile effects segment to be “flat” versus the USD18 million turned in during the fourth quarter of 2019. That would represent a 125% increase over the 2020 third quarter’s USD$8 million.

As MRC reported earlier, Nanjing Jinling Huntsman, a joint venture between Huntsman and Sinopec Jinling, shut its propylene oxide plant in Nanjing (Nanjing, Jiangsu Province, China) on November 1 for scheduled maintenance. This plant with a capacity of 240,000 tonnes/year of propylene oxide was closed until approximately 25 November.

According to MRC's ScanPlast report, PP shipments to the Russian market reached 978,870 tonnes in  January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer increased.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2019 revenues of approximately USD7 billion. The company's chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. The company operates more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates within our four distinct business divisions.


mrcplast.com
Author:Margaret Volkova
Tags:pigments, PP, dioksida titana, PP random copolymer, propylene, petrochemistry, adhesives, paints and coatings, Huntsman, Sinopec, Russia.
Category:General News
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