Huntsman Corp. (HUN)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$5.9B

Revenue growth

0.6%

Net income, last twelve months

-$180.0M

Earnings per share

-$1.04

Gross margin

13.5%

Operating margin

-0.5%

Net margin

-3.1%

Free cash flow

-$9.0M

Return on equity

-6.7%

Market value

$1.6B

Dividend yield

5.6%

Cash

$346.0M

Debt

$2.1B

Debt to equity

0.78

Shares outstanding

173.4M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 30 July 2026.

• Revenue rose 14% year on year. Revenues were $1,663 million against $1,458 million a year earlier, up 14%. Six-month revenues were $3,083 million against $2,868 million.
• Net loss narrowed to $6 million. Net loss attributable to Huntsman was $6 million against $158 million. Diluted loss per share was $0.03 against $0.92 a year earlier.
• Adjusted EBITDA reached $120 million. Adjusted EBITDA was $120 million, up from $74 million a year earlier and $73 million in the first quarter. Six-month adjusted EBITDA was $193 million.
• Adjusted net income was nil. Adjusted net income attributable to Huntsman and adjusted diluted income per share were both nil, against an adjusted net loss of $34 million and $(0.20) per share a year earlier.
• Operating income turned positive. Operating income was $37 million against an operating loss of $120 million a year earlier. Six-month operating income was $21 million against a loss of $78 million.
• Polyurethanes EBITDA more than doubled. Polyurethanes revenue rose 16% to $1,079 million. Segment adjusted EBITDA was $66 million against $31 million, a 113% increase.
• Polyurethanes EBITDA drivers named. Management named higher prices and volumes, higher equity earnings from the minority-owned China joint venture, and cost savings from the cost optimization program.
• MDI prices rose in all regions. MDI average selling prices rose in all three regions, which the company attributed to improved supply and demand dynamics.
• Performance Products EBITDA up 16%. Performance Products revenue rose 5% to $283 million. Segment adjusted EBITDA was $37 million against $32 million, helped by lower fixed costs from the cost optimization program.
• Advanced Materials EBITDA up 42%. Advanced Materials revenue rose 19% to $313 million. Segment adjusted EBITDA was $64 million against $45 million, on higher margins and sales volumes.
• Advanced Materials pricing and mix. Average selling prices rose on favorable sales mix and currency movements against the U.S. dollar.
• Restructuring costs fell to $9 million. Restructuring, impairment and plant closing costs were $9 million against $124 million a year earlier. Six-month costs were $15 million against $125 million.
• Selling and admin costs increased. Selling, general and administrative expense was $183 million against $160 million, an increase of 14%.
• Effective tax rate was 65%. Effective tax rate was 65% and adjusted effective tax rate was 61%, against (5%) and (250%) a year earlier. Income tax expense was $17 million against $7 million.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2025

By product, FY2025

By region, FY2025

Company events

The newest 8-K filings of 299 held.

Every filing

The newest filings with the SEC of 653 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

420 funds held it at 30 Jun 2026: 154 added and 141 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Solstice Advanced Materials Inc. (SOLS): revenue $4.1B, market value $10.1B
• Balchem Corp. (BCPC): revenue $1.1B, market value $5.3B
• Perimeter Solutions, Inc. (PRM): revenue $757.1M, market value $4.7B
• Ingevity Corp. (NGVT): revenue –, market value $2.6B
• Innospec Inc. (IOSP): revenue $1.8B, market value $2.5B
• Chemours Co. (CC): revenue $5.8B, market value $2.0B
• Olin Corp. (OLN): revenue $6.7B, market value $1.9B
• FMC Corp. (FMC): revenue $3.3B, market value $559.1M

What the company does

Huntsman is a global manufacturer of diversified organic chemical products. It operates in three segments: Polyurethanes, Performance Products and Advanced Materials. The company markets its products worldwide, mainly to industrial and building product manufacturers, for uses such as adhesives, aerospace, automotive, coatings, construction, electronics, insulation, power generation and refining. It is a Delaware corporation formed in 2004 to hold the Huntsman businesses, which Jon M. Huntsman founded in 1970 as a small packaging materials company.

How the business is organised

The company runs all of its businesses through Huntsman International, a wholly-owned subsidiary formed in 1999 as a Delaware limited liability company. Polyurethanes makes MDI, polyols and TPU. Performance Products makes amines and maleic anhydride. Advanced Materials makes epoxy and other specialty polymer formulations. On 28 February 2023 the company sold its textile chemicals and dyes business, called the Textile Effects Business, to Archroma.

Polyurethanes

Customers combine an isocyanate such as MDI with polyols to make rigid and flexible foams, coatings, adhesives, sealants and elastomers. The company says it can produce over 2,200 distinct MDI-based polyurethane products. It does not produce TDI. Major end markets include building insulation, construction products, automotive and footwear.

The segment has three major manufacturing facilities, in the United States, Europe and China. MDI is made in Geismar, Louisiana; Rotterdam, the Netherlands; and Caojing, China. Global capacity is approximately 2.9 billion pounds for MDI, 0.6 billion pounds for polyols and 0.1 billion pounds for TPU. The segment also runs 21 downstream facilities, 14 of them polyurethane formulation sites known as systems houses, placed close to customers. It markets to over 6,500 customers in more than 90 countries, selling directly and through distributors and agents. MDI sales are seasonal, with volumes generally peaking in the second and third quarters. Huntsman Building Solutions makes and distributes spray polyurethane foam insulation in North America.

Performance Products

This segment is organised by region and product family. Amines are intermediate chemicals used in epoxy composites, coatings, fuel and lubricant additives, gas treating, agrochemicals and semiconductor manufacturing. Maleic anhydride is used mainly to make unsaturated polyester resins for fiberglass reinforced products. The segment sells approximately 200 products to over 800 customers and has 9 manufacturing locations in North America, EAME and APAC.

Capacity is approximately 0.9 billion pounds a year for amines and approximately 0.4 billion pounds for maleic anhydride in North America. The company completed the closure of its Moers, Germany maleic anhydride facility in the second quarter of 2025. Its brands include DGA, JEFFCAT and E-GRADE.

Advanced Materials

This segment makes epoxy, phenoxy, acrylic, polyurethane, mercaptan and acrylonitrile butadiene-based polymer products, as well as carbon nanomaterials. They go into aerospace, automotive, electrical infrastructure, coatings and general industrial uses. Brands include ARALDITE, EPIBOND, EPOCAST, URALANE, MIRALON and PROBIMER. The segment sells to over 1,700 customers through its own sales force, specialist distributors and mass distribution, with regional teams in Europe and India, Asia and the Americas. It has synthesis, formulating and production facilities in North America, Europe, Asia and South America. A pilot plant in San Antonio, Texas is designed to convert methane into MIRALON carbon nanomaterials and hydrogen. The segment also uses amines from Performance Products and isocyanates from Polyurethanes.

Raw materials and joint ventures

Benzene has historically been the largest component of raw material costs for MDI. Polyols rely mainly on PO. Maleic anhydride relies on normal butane bought under long-term contracts.

- Rubicon: with Lanxess, it owns aniline, nitrobenzene and DPA facilities in Geismar. Huntsman is entitled to approximately 78% of the nitrobenzene and aniline capacity, and Rubicon is consolidated. - Huntsman Polyurethanes Shanghai Ltd.: Huntsman owns 70% of this MDI venture with Shanghai Chlor-Alkali Chemical Company, Ltd, and it is consolidated. - Chinese PO/MTBE venture: Huntsman holds 49% and Sinopec holds 51% of a PO/MTBE plant in Nanjing. It is accounted for under the equity method.

Arabian Amines Company is a 50%-owned venture with the Zamil Group. It runs an ethyleneamines plant in Jubail, Saudi Arabia, with annual capacity of approximately 70 million pounds. Huntsman buys and markets all of its output.

Competition, technology and people

In polyurethanes the company names BASF, Covestro, Dow, Lubrizol and Wanhua Chemical Group as major competitors. In amines it names BASF, Delamine, Dow, Evonik, Nouryon, Tosoh and Zhengda. In maleic anhydride it names AOC, Bartek, Ineos and Lanxess.

Research and development centers are in The Woodlands, Texas; Tienen, Belgium; Basel, Switzerland; Merrimack, New Hampshire; and Shanghai, China. The company owns approximately 2,140 unexpired patents and has approximately 950 patent applications pending. It also holds approximately 2,970 trademark registrations and 95 pending trademark applications. Of its associates, approximately 2,000 are in the United States and approximately 4,000 are in other countries. Its plants are subject to environmental, health and safety laws, and it uses site-level standards and audits to manage compliance.

*From Huntsman's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1307954/000143774926004524/hun20251231_10k.htm)*

From the company's 10-K.