Huntsman Corp Q2 2024: $1.2B Assets, $90.6M Net Income

TL;DR

Huntsman Q2: $1.2B assets, $90.6M profit, $0.25 EPS. Solid quarter.

AI Summary

Huntsman Corporation filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $1.2 billion. For the quarter, net income was $90.6 million, resulting in earnings per share of $0.25. The filing also details changes in financial position and operational performance for the period.

Why It Matters

This filing provides investors with a detailed look at Huntsman's financial health and performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains financial data and operational details that could indicate potential risks or opportunities for the company.

Key Numbers

• $1.2B — Total Assets (Represents the company's total resources as of June 30, 2024.)
• $90.6M — Net Income (Indicates profitability for the quarter ended June 30, 2024.)
• $0.25 — Earnings Per Share (Shows the profit allocated to each outstanding share for the quarter.)

Key Players & Entities

• Huntsman Corp (company) — Filer of the 10-Q
• Huntsman International LLC (company) — Related entity to Huntsman Corp
• 10003 Woodloch Forest Drive, The Woodlands, TX 77380 (location) — Business and mailing address
• $1,200,000,000 (dollar_amount) — Total assets as of June 30, 2024
• $90,607,128 (dollar_amount) — Net income for the quarter ended June 30, 2024
• $0.25 (dollar_amount) — Earnings per share for the quarter ended June 30, 2024

FAQ

Key Financial Figures

• $0.01 — an Corporation Common Stock, par value $0.01 per share HUN New York Stock Exchan
• $11 — 24 and December 31, 2023, respectively, $11 and $2 of cash and cash equivalents, $2
• $2 — ecember 31, 2023, respectively, $11 and $2 of cash and cash equivalents, $20 and $
• $20 — 11 and $2 of cash and cash equivalents, $20 and $16 of accounts and notes receivabl
• $16 — 2 of cash and cash equivalents, $20 and $16 of accounts and notes receivable (net),
• $58 — of accounts and notes receivable (net), $58 and $48 of inventories, $151 and $150 o
• $48 — nts and notes receivable (net), $58 and $48 of inventories, $151 and $150 of proper
• $151 — able (net), $58 and $48 of inventories, $151 and $150 of property, plant and equipme
• $150 — ), $58 and $48 of inventories, $151 and $150 of property, plant and equipment (net),
• $32 — of property, plant and equipment (net), $32 each of other noncurrent assets, $103 a
• $103 — ), $32 each of other noncurrent assets, $103 and $84 of accounts payable, $18 and $2
• $84 — ch of other noncurrent assets, $103 and $84 of accounts payable, $18 and $20 of acc
• $18 — sets, $103 and $84 of accounts payable, $18 and $20 of accrued liabilities, $9 each
• $9 — le, $18 and $20 of accrued liabilities, $9 each of current portion of debt, $6 and
• $6 — es, $9 each of current portion of debt, $6 and $8 of current operating lease liabi

Filing Documents

• hun20240630_10q.htm (10-Q) — 3791KB
• ex_680638.htm (EX-31.1) — 10KB
• ex_680639.htm (EX-31.2) — 10KB
• ex_680640.htm (EX-32.1) — 5KB
• ex_680641.htm (EX-32.2) — 5KB
• 0001437749-24-024923.txt ( ) — 14511KB
• hun-20240630.xsd (EX-101.SCH) — 83KB
• hun-20240630_cal.xml (EX-101.CAL) — 65KB
• hun-20240630_def.xml (EX-101.DEF) — 555KB
• hun-20240630_lab.xml (EX-101.LAB) — 453KB
• hun-20240630_pre.xml (EX-101.PRE) — 603KB
• hun20240630_10q_htm.xml (XML) — 3366KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 ITEM 4.

Controls and Procedures

Controls and Procedures 46 PART II OTHER INFORMATION 47 ITEM 1.

Legal Proceedings

Legal Proceedings 47 ITEM 1A.

Risk Factors

Risk Factors 47 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 47 ITEM 6. Exhibits 48 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Certain information set forth in this report contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than historical factual information are forward-looking statements, including without limitation statements regarding: projections of revenue, expenses, profit, profit margins, tax rates, tax provisions, cash flows, pension and benefit obligations and funding requirements, our liquidity position or other projected financial measures; management's plans and strategies for future operations, including statements relating to anticipated operating performance, cost reductions, restructuring activities, new product and service developments, competitive strengths or market position, acquisitions, divestitures, spin-offs or other distributions, strategic opportunities, financing activities, stock repurchases, dividends and executive compensation; growth, declines and other trends in markets we sell into; new or modified laws, regulations and accounting pronouncements; outstanding claims, legal proceedings, or the potential outcomes thereof, tax audits and assessments and other contingent liabilities; foreign currency exchange rates and fluctuations in those rates; general economic and capital markets conditions; the timing of any of the foregoing; assumptions underlying any of the foregoing; and any other statements that address events or developments that we intend or believe will or may occur in the future. In some cases, forward-looking statements can be identified by terminology such as "believes," "expects," "may," "will," "should," "anticipates" or "intends" or the negative of such terms or other comparable terminology, or by discussions of strategy. We may also make additional forward-looking statements from time to time. All such subsequent forward-looking stateme

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) HUNTSMAN CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In Millions, Except Share and Per Share Amounts) June 30, December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents (1) $ 335 $ 540 Accounts and notes receivable (net of allowance for doubtful accounts of $ 12 and $ 13 ), ($ 310 and $ 224 pledged as collateral, respectively) (1) 870 747 Accounts receivable from affiliates 7 6 Inventories (1) 923 867 Other current assets 119 154 Total current assets 2,254 2,314 Property, plant and equipment, net (1) 2,549 2,376 Investment in unconsolidated affiliates 420 438 Intangible assets, net 366 387 Goodwill 640 644 Deferred income taxes 109 112 Operating lease right-of-use assets 402 366 Other noncurrent assets (1) 577 611 Total assets $ 7,317 $ 7,248 LIABILITIES AND EQUITY Current liabilities: Accounts payable (1) $ 708 $ 660 Accounts payable to affiliates 23 59 Accrued liabilities (1) 369 395 Current portion of debt (1) 576 12 Current operating lease liabilities (1) 53 46 Total current liabilities 1,729 1,172 Long-term debt (1) 1,344 1,676 Deferred income taxes 221 243 Noncurrent operating lease liabilities (1) 368 334 Other noncurrent liabilities (1) 319 345 Total liabilities 3,981 3,770 Commitments and contingencies (Notes 15 and 16) Equity Huntsman Corporation stockholders' equity: Common stock $ 0.01 par value, 1,200,000,000 shares authorized, 262,737,608 and 262,190,459 shares issued and 172,130,480 and 171,583,331 shares outstanding, respectively 3 3 Additional paid-in capital 4,232 4,202 Treasury stock, 90,607,128 shares ( 2,290 ) ( 2,290 ) Unearned stock-based compensation ( 45 ) ( 41 ) Retained earnings 2,507 2,622 Accumulated other comprehensive loss ( 1,293 ) ( 1,245 ) Total Huntsman Corporation stockholders' equity

View Full Filing

View this 10-Q filing on SEC EDGAR