Q3 2024 Huntsman Corp Earnings Call Transcript

Nov 05, 2024 / 03:00PM GMT

Release Date Price: $20.74 (-4.60%)

Transcript 10-Q8-K

Key Points

Positve

Huntsman Corp (HUN) is seeing improvement in North American housing and construction, which is expected to positively impact earnings.
Interest rates are decreasing, which could support economic growth and demand for Huntsman Corp (HUN)'s products.
The company is initiating a $50 million cost reduction program in its global polyurethanes business, adding to the $280 million in costs already reduced.
Huntsman Corp (HUN) is capitalizing on growing opportunities in the EV battery market and tightening insulation standards.
The company expects gradual improvement in Asian and Middle Eastern markets in 2025, driven by stimulus announcements and lower inventories.

Negative

Huntsman Corp (HUN) is facing challenges with MDI price increases not gaining traction with customers.
There is a record amount of global chemical assets on the market, particularly in Europe, which could lead to facility closures due to regulatory and high cost structures.
The company is experiencing low demand growth, which is impacting capacity utilization rates and margin expansion.
Huntsman Corp (HUN) is dealing with the financial impact of the recently settled Boeing strike, estimated to cost a few million dollars in the fourth quarter.
The European market is showing relatively low growth, with regulatory and energy policies hindering manufacturing prospects.

Operator

Good evening and welcome to Huntsman Corporation Third Quarter 2024 earnings conference call.

(Operator Instructions)

I would now like to turn the conference over to your host, Ivan Marcuse.

Thank you. You may begin.

Ivan Marcuse

Huntsman Corp - Vice President, Investor Relations and Corporate Development

Thank you, Rob, and good morning, everyone.

Welcome to Huntsman's Third Quarter 2024 earnings call.

For joining us on the call today are Peter Huntsman, Chairman and CEO and President, Philip Lister, Executive Vice President, CFO.

Yesterday last night, November 4, 2024. After the US equity markets closed, we released our earnings for third quarter 2024 via press release and posted to our website, huntsman.com. We also posted a set of slides in detail and commentary discussing the third quarter on our website.

Peter Huntsman will provide some opening comments shortly, and we will then move to question-and-answer session for the remainder of the call serving the call, let me remind you that we

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