April 29 Huntsman Corp reported a
bigger-than-expected quarterly profit, helped by robust demand
for its chemicals used in foam insulation, agriculture, energy
Revenue from the polyurethane business, which makes
chemicals used to insulate refrigerators and other appliances,
rose 2 percent to $1.2 billion in the first quarter. The
business contributed about 44 percent of Huntsman's total
revenue of $2.75 billion.
Performance products revenue rose 6 percent to $765 million.
The business contributed more than a quarter of total sales.
The unit makes chemicals used in detergents, personal care
products, agriculture, lubricants and fuel additives.
Huntsman reported a net income of $54 million, or 22 cents
per share, in the quarter ended March 31, compared with a loss
of $24 million, or 10 cents per share, a year earlier. [
On an adjusted basis, the Salt Lake City, Utah-based
company's profit was 43 cents per share, compared with the
average analyst estimate of 40 cents per share, according to
Thomson Reuters I/B/E/S.
Huntsman shares closed up marginally at $24.65 on the New
York Stock Exchange on Monday.
(Reporting By Tanvi Mehta and Shubhankar Chakravorty in
Bangalore; Editing by Sriraj Kalluvila)