Huntsman Q3 2023 Earnings Report
Key Takeaways
Huntsman Corporation reported Q3 2023 results with revenues of $1,506 million and net income of $0 million. The company faced challenges due to weak demand, pricing pressure, and customer inventory management. Despite these challenges, Huntsman maintains financial discipline, returning cash to shareholders and investing in strategic projects.
Revenues for Q3 2023 were $1,506 million.
Net income attributable to Huntsman was $0 million.
Adjusted net income attributable to Huntsman was $27 million.
Adjusted EBITDA was $136 million.
Huntsman
Huntsman
Forward Guidance
The fourth quarter will likely be the most challenging period in recent memory due to a combination of weak demand, pricing pressure, and aggressive customer inventory management. Cost control remains a priority and we will deliver our current savings program of $280 million by year end.
Positive Outlook
- Company is in the best possible position when our markets begin to improve.
- Financial discipline has meant that we have been able to return cash to shareholders throughout 2023 via consistent share repurchases and an improved dividend.
- Continue to invest in strategic projects.
- Cost control remains a priority and we will deliver our current savings program of $280 million by year end.
- Our portfolio provides energy saving solutions that the world needs, and we are highly confident in the long-term outlook for the products we sell.
Challenges Ahead
- The fourth quarter will likely be the most challenging period in recent memory due to a combination of weak demand.
- Pricing pressure.
- Aggressive customer inventory management.
- 2023 was going to be a more difficult year than 2020.
- Economic uncertainty.