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Huntsman earnings fall but match estimates

10:00 AM MDT | July 31, 2013 | Vincent Valk

Huntsman’s second-quarter net income fell 62% year-on-year (YOY), to $47 million, or 19 cts/share, on revenues down 3%, to $2.83 billion. Adjusted earnings totaled 39 cts/share, matching analysts’ consensus estimate, as reported by Thomson Reuters (New York). Adjusted earnings, which exclude costs related to a force majeure at an methylene di-para-phenylene isocyanate (MDI) plant in Europe, still fell 36% YOY. “Excluding the approximate $25-million negative impact from the force majeure at our European MDI facility, and with the exception of our...

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