Earnings Calls

Last Earnings Call

Fiscal Period
Q2 2026
Call Date
Jul 31, 2026
AI Summary
Q2 2026

Demand: Huntsman said pricing and margins improved in the quarter, but management remains uneasy about weak consumer confidence, soft North American housing, and sluggish demand in China and Europe.

MDI: The MDI market was described as broadly balanced, with supply disruptions helping some pricing, but management said the bigger issue is still demand, not supply.

Europe: Huntsman expects Europe to be EBITDA positive in the third quarter after pricing actions, but rising natural gas and electricity costs remain the main risk.

Olin deal: Peter Huntsman strongly defended the merger of equals with Olin, saying the company expects about $300 million of synergies plus more than $100 million of additional benefit from internalizing chlorine and related inputs.

Growth areas: Advanced Materials and spray foam were both highlighted as outperforming underlying markets, with strength in aerospace, power, automotive, and energy efficiency applications.

Balance sheet: Net leverage improved in the second quarter and management expects it to move closer to 4x by the end of 2026.

Key Financials
EBITDA
nearly doubled
Growth in Advanced Materials
8%
Growth in polyurethanes
4%
Net debt
approximately $1.7 billion
Net leverage
5.4%
MDI industry supply affected by Strait of Hormuz exposure
about 4%
MDI demand growth
0% to 2%
European gas price
above $20 per MMBtu
Pull-forward impact in Advanced Materials
low single-digit millions
Benefit from polyol outage
low $2 million to $3 million
Olin merger synergies
$300 million
Additional benefit from chlorine replacement
more than $100 million
Purchasing and logistics synergy bucket
$75 million
Overlap and efficiency synergy bucket
$75 million
SG&A synergy bucket
$150 million
Largest chlorine contract expiration
end of 2030
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