Huntsman’s Overall Sales to be Down in Second Quarter 2020

June 29 2020

Huntsman Corporation reaffirmed its overall general outlook for the second quarter 2020 and informed that overall sales for the quarter are expected to be down between approximately 30% to 35% versus last year. Huntsman noted that the sales trends showed improvement from April to May, and it expects to see this continued improvement through June. Results in its Polyurethanes division are expected to be modestly better than expected as trends in China and in U.S. construction, including spray foam, are better than originally anticipated. The better-than-expected results in Polyurethanes are being mostly offset by weaker-than-anticipated results in Huntsman’s Textiles Effects division due largely to the prolonged impact of mandated shutdowns in key textile manufacturing regions, and the expected recovery in the industry may not begin until the third quarter due to the continued lockdowns. Huntsman expects that results in the Advanced Materials division may fall a little short of expectations as a result of a deeper trough in Aerospace, Europe, and India than anticipated at the time of its last quarterly earnings call.

Huntsman Corporation will hold a conference call on Tuesday, July 28, 2020, at 10 a.m. ET to discuss its second quarter 2020 financial results, which will be released at approximately 6:00 a.m. ET that day.

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