Key Highlights

  • HUN reported third-quarter 2026 Revenue of $1,717 million, up 18% from $1,460 million a year earlier.
  • Net loss attributable to Huntsman narrowed to $18 million, or $0.10 per diluted share, from $25 million, or $0.14.
  • Adjusted EBITDA rose to $132 million from $94 million, and adjusted Net Income was $7 million versus an adjusted loss of $5 million.
  • Free Cash Flow was $82 million, compared with $157 million in the prior-year quarter.
  • The planned Merger of equals is now expected to close in the first quarter of 2027.

Higher Prices and Volumes Lift Revenue 18% While the Net Loss Narrows

Huntsman (NYSE:HUN) reported third-quarter 2026 results on Nov 2, 2026, with revenue of $1,717 million versus $1,460 million a year earlier. The net loss attributable to the company was $18 million, or $0.10 per diluted share, compared with a loss of $25 million, or $0.14 per share, in the third quarter of 2025.

Huntsman makes diversified chemical products sold to manufacturers in consumer and industrial markets, with 2025 revenue of about $6 billion from continuing operations.

Gross profit rose to $237 million from $204 million, and Operating Income reached $39 million versus $6 million. Combined average selling prices contributed 15 points of the 18% revenue gain, and volumes added 3 points.

Polyurethanes and Advanced Materials Power Adjusted EBITDA to $132 Million

Adjusted EBITDA was $132 million, up from $94 million (about 40% higher, calculated), and adjusted diluted Earnings were $0.04 per share versus an adjusted loss of $0.03. Adjusted net income was $7 million, compared with an adjusted loss of $5 million.

Polyurethanes revenue grew 21% to $1,152 million as MDI selling prices rose in all three regions and volumes increased in the Americas and Europe. Segment adjusted EBITDA climbed 56% to $75 million, helped by higher Equity earnings from a minority-owned joint venture in China and savings from a cost program.

Advanced Materials revenue rose 18% to $314 million on higher volumes in aerospace, automotive and power markets, and its adjusted EBITDA increased 41% to $62 million. Performance Products revenue rose 6% to $260 million on price and mix.

Cash Flow Softens and Net Debt Rises as Leverage Target Stays Near 4 Times

Operating cash flow from continuing operations was $115 million, versus $200 million a year earlier, and free cash flow was $82 million versus $157 million. For the nine months, free cash flow was negative $99 million compared with positive $105 million, as Working Capital absorbed $189 million.

Net debt was $1,684 million at Sep 30, 2026, up from $1,582 million at Dec 31, 2025, with total debt of $2,043 million and cash of $359 million. The company had about $0.9 billion of combined cash and unused borrowing capacity.

Capital spending was $33 million in the quarter, and management expects about $160 million for 2026. Management said better results and cash flow should bring net debt leverage to about 4 times by year-end.

Merger Approvals Advance but Closing Moves to the First Quarter of 2027

Shareholders approved the planned merger of equals with another chemicals producer on Aug 25, 2026, and regulators cleared it in several jurisdictions, including the United States. Closing is now expected in the first quarter of 2027, pending the remaining approvals, and the combined company would trade under the ticker NYSE:OHN.

For the nine months, revenue was $4,800 million, up 11%, with a net loss of $77 million versus $188 million and adjusted EBITDA of $325 million versus $240 million.