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Huntsman (HUN) investor relations material
Huntsman Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
2025 was marked by global economic headwinds, including weak North American housing, sluggish Chinese consumer confidence, and record chemical production losses in Europe, but cost restructuring and facility closures helped offset these challenges.
Fourth quarter 2025 revenues were $1,355M, down from $1,452M in 4Q24; full-year 2025 revenues were $5,683M, down from $6,036M in 2024.
Net loss attributable to shareholders was $(96)M for 4Q25 and $(284)M for the full year; adjusted net loss was $(63)M for 4Q25 and $(121)M for the year.
Achieved tonnage growth above market rates and led multiple price increases, converting 45% of EBITDA to free cash flow, outperforming many industry peers.
Early 2026 shows signs of recovery in North American homebuilding, durable goods, and Chinese domestic markets, with cautious optimism for improved volumes and pricing in Europe.
Financial highlights
Achieved $100 million in annualized cost savings by end of 2025, including 500 headcount reductions (about 10% of workforce) and closure of seven facilities.
Adjusted EBITDA for 4Q25 was $35M, down from $71M in 4Q24; full-year adjusted EBITDA was $275M, down from $414M in 2024.
Free cash flow from continuing operations was $20M in 4Q25 and $125M for the year.
Polyurethanes segment saw sequential price declines in all regions through 2025, with Americas starting higher but falling similarly to Europe.
Q1 2026 polyurethanes EBITDA guidance is $25–$40 million, down from $42 million in Q1 2025, due to higher natural gas costs and ongoing pricing pressure.
Outlook and guidance
2026 expected to bring gradual recovery in North American construction and Chinese demand, with early green shoots in Europe.
1Q26 adjusted EBITDA projected between $45M and $75M, with Polyurethanes $25M–$40M, Performance Products $20M–$30M, and Advanced Materials $38M–$42M.
$45 million in in-year cost savings expected for 2026, with additional savings anticipated in 2027.
Targeting at least enough free cash flow to cover the dividend, with further structural changes planned.
Full-year 2026 capital expenditures expected to be similar to 2025.
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