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Mar 31, 2020
Huntsman Q1 2020 Earnings Report
Huntsman reported first quarter 2020 results, showing a strong balance sheet and robust liquidity.
Key Takeaways
Huntsman reported Q1 2020 revenues of $1,593 million, net income of $708 million, adjusted net income of $65 million, and adjusted EBITDA of $165 million. The company is focused on protecting its balance sheet strength by reducing inventories and capital spending, suspending share repurchases, and implementing cost reduction measures.
Huntsman's balance sheet is stronger than ever with significant cash and robust liquidity.
Capital spending is being reduced by 30%, or approximately $90 million, by delaying discretionary spending.
Share repurchases have been suspended, and various cost reduction measures are yielding immediate benefit.
The company will accelerate synergy plans with recent and pending strategic bolt-on acquisitions.
Huntsman
Huntsman
Forward Guidance
The company expects its forward adjusted effective tax rate to be approximately 22% - 24%.