Huntsman Reports 2Q Improvements in MDI and TiO2; but Outlook for These Chemicals Remains Poor
While Huntsman reported slight improvements in MDI and TiO2 during the second quarter, we believe the outlook for both chemicals remains poor as competitive pressures dampen profitability. As such, we maintain our $10 per share fair value estimate for the company.Polyurethane sales declined 2% from the prior quarter, but improved margins (up 190 basis points to 17.5%) led adjusted EBITDA for the segment to grow 31% to $171 million. While prices are still down about 19% from the prior year due ...
Huntsman is a manufacturer of organic chemical products. The company's products are used in a range of applications, including those in the adhesives, aerospace, automotive, construction products, personal care and hygiene, durable and non-durable consumer products, digital inks, electronics, insulation, medical, packaging, coatings and construction, power generation, refining, synthetic fiber, textile chemicals and dyes industries. The company's primary product lines include methyl diphenyl diisocyanate, amines, maleic anhydride, epoxy-based polymer formulations, textile chemicals and dyes. The company's segments are: Polyurethanes, Performance Products, Advanced Materials and Textile Effects.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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