Huntsman Q1 Profit Tops Estimates; Says On Track To Achieve Target - Quick Facts

(RTTNews) - Huntsman Corp. (HUN), a manufacturer of differentiated chemicals, reported Tuesday that its first-quarter net income attributable to the company was $54 million, compared to net loss of $24 million a year ago. Earnings per share was 0.22, compared to last year's loss of $0.10.

Adjusted net income, which excluded certain items, was $105 million or $0.43 per share, compared to last year's income of $46 million or $0.19 per share.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.

Adjusted EBITDA was $329 million, an improvement of 50 percent from last year's $220 million.

Quarterly revenues increased to $2.755 billion from prior year's $2.702 billion. Analysts estimated revenues of $2.82 billion for the quarter. This past month, at our Investor Day we presented a plan to achieve $2 billion of Adjusted EBITDA within the next 2-3 years.

Citing the strong first quarter results, the company said it is well on its way to achieving its target of $2 billion of adjusted EBITDA within the next 2-3 years.