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Huntsman Returns to Profit; Volumes Surge

9:31 AM MDT | May 5, 2011 | Nancy Seewald

Huntsman reported first-quarter net income of $62 million, compared with a net loss of $172 million in the same period last year. The 2010 quarter included charges related to the early extinguishment of debt of $155 million. Earnings of 47 cts/share beat the consensus of analysts’ estimates of 24 cts/share, as reported by Reuters Thomson (New York). Sales rose 28%, to $2.7 billion. "I am pleased with the strong earnings of our business in the first quarter; underlying demand for our largest businesses continues to improve with the global economic...

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