Stock Monitor: Gevo Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 09, 2018 / Active-Investors.com has just released a free earnings report on Huntsman Corp. (NYSE: HUN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=HUN. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 23, 2018. The chemical Company outperformed top- and bottom-line expectations, and also recorded the strongest balance sheet in its history. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Gevo, Inc. (NASDAQ: GEVO), which also belongs to the Basic Materials sector as the Company Huntsman. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Huntsman most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=HUN
Earnings Highlights and Summary
For the three months ended December 31, 2017, Huntsman recorded revenues of $2.20 billion, up 16% compared to $1.90 billion in Q4 2017. The Company's revenue numbers beat analysts' estimates of $2.1 billion.
For Q4 2017, Huntsman reported a net income of $287 million, or $1.00 per diluted share, compared to $137 million, or $0.53 per diluted share, in Q4 2016. The Company's adjusted income was $0.76 per diluted share, up 262% compared to $0.21 per diluted share in the prior year's same period, and was also ahead of Wall Street's estimates of $0.66 per share.
For the full fiscal year 2017, Huntsman generated revenues of $8.36 billion, up 11% compared to $7.52 billion in FY16.
For FY17, Huntsman recorded a net income of $741 million, or $2.61 per diluted share, compared to $357 million, or $136 per diluted share, in FY16. The Company's adjusted net income totaled $2.48 per diluted share in FY17, up 69% versus $1.47 per diluted share in the prior year's comparable period.
Segment Results
During Q4 2017, Huntsman's Polyurethanes segment's revenues surged 27% to $1.23 billion on a y-o-y basis, primarily driven by higher MDI average selling prices and MDI sales volumes. The segment recorded adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $294 million, up 126% compared to the year corresponding ago period, primarily due to higher MDI margins and sales volumes.
For Q4 2017, Huntsman's Performance Products segment's revenues were essentially flat at $514 million, as higher average selling prices and improved mix were offset by lower sales volumes. The segment's average selling prices increased primarily in response to higher raw material costs and a favorable product mix. The segment's adjusted EBITDA fell 24% to $47 million, primarily due to the sale of the European surfactants business and higher costs.
Huntsman's Advanced Materials segment generated revenues of $258 million, reflecting a growth of 5% on a y-o-y basis, attributed to higher average sales prices. The segment's average selling prices increased primarily due to sales mix, as sales volumes in the Company's higher value specialty business increased across all of its core markets. The segment's adjusted EBITDA rose 6% to $53 million, due to higher specialty sales volumes and lower fixed costs.
During Q4 2017, Huntsman's Textile Effects revenues gained 3% to $190 million, primarily due to a volume growth, but partially offset by lower average selling prices and an unfavorable product mix. The segment's adjusted EBITDA advanced 36% to $19 million on a y-o-y basis, primarily due to higher sales volumes.
Cash Matters
During FY17, Huntsman's net cash provided by operating activities was $842 million compared to $974 million in FY16. The Company's free cash flow generation was $594 million compared to $656 million in FY16.
The secondary offering of Venator Materials PLC's (NYSE: VNTR) ("Venator") shares was completed successfully in December 2017, and the net proceeds were used to pay the remaining $511 million on Huntsman's Term Loan B due 2023, reducing its net leverage to 1.4x, the strongest balance sheet in its history. Since the beginning of FY16 to the end of FY17, Huntsman's net debt was reduced by 60% to $1.8 billion from $4.5 billion. Huntsman's remaining ownership interest in Venator was approximately 53% as of the day of the press release. The Company's Board also announced a 30% hike in quarterly dividend per share to $0.1625 from $0.125, and share repurchases of up to $450 million.
Stock Performance Snapshot
April 06, 2018 - At Friday's closing bell, Huntsman's stock dropped 3.41%, ending the trading session at $28.33.
Volume traded for the day: 2.56 million shares.
Stock performance in the previous six-month period - up 1.03%; and past twelve-month period - up 15.87%
After last Friday's close, Huntsman's market cap was at $6.78 billion.
Price to Earnings (P/E) ratio was at 16.24.
The stock has a dividend yield of 2.29%.
The stock is part of the Basic Materials sector, categorized under the Chemicals - Major Diversified industry.
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