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Huntsman Posts First-Quarter Loss, Misses Estimates
10:35 AM MDT | May 8, 2009 | Nancy Seewald
Huntsman reported a net loss of $290 million ($1.24/share) in the first quarter, compared with net income of $7 million in the year-ago period. Excluding special items, Huntsman’s net loss of 55 cts/share, worse than analysts’ consensus of a loss of 21 cts/share, as reported by Thomson Reuters (New York). Adjusted Ebitda from continuing operations fell 73%, to $50 million, on sales down 33%, to $1.7 billion. Huntsman cites decreased demand in all of its businesses. “Although average demand for the quarter was soft, in fact it was softer than the...
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