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Huntsman first-quarter adjusted earnings fall 75%
10:59 AM MDT | April 30, 2013 | Clay Boswell
Huntsman on Tuesday reported a net loss of $24 million due mainly to a charge related to early repayment of debt compared with net income of $163 million in the year-ago quarter. Adjusted net income, excluding charges, was $46 million, a year-on-year (YOY) decline of 75% due to weaker titanium dioxide (TiO2) earnings. Adjusted diluted income per share totaled 19 cts/share, beating the consensus estimate by 19%. Revenues of $2.7 billion fell 7% YOY. “During the first quarter this year we saw a meaningful improvement in our MDI (methylene...
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