Huntsman (HUN) Q1 2026 earnings summary

Executive summary

• First quarter 2026 revenues reached $1.42 billion, up 1% year-over-year, with adjusted EBITDA stable at $73 million and a net loss of $53 million attributable to shareholders, reflecting lower gross profit and absence of prior-year litigation income.

• Cost realignment initiatives delivered $110 million in annualized run rate savings as of March 2026, exceeding the original $100 million target, with 90% of targeted headcount reductions complete.

• Adjusted net loss was $35 million, versus $19 million in the prior year period.

• Free cash flow usage improved to $91 million from $107 million in the prior year.

Financial highlights

• Adjusted EBITDA margin for Q1 2026 was 5%, with adjusted EBITDA at $73 million, up from $72 million in Q1 2025.

• Diluted loss per share was $0.31; adjusted diluted loss per share was $0.20.

• Net cash used in operating activities from continuing operations was $53 million.

• Net debt at quarter end was $1.7 billion, with available liquidity of $0.9 billion and net debt leverage at 6.1x.

• Dividend per share was $0.0875 in Q1 2026.

Outlook and guidance

• Q2 2026 adjusted EBITDA guidance: $100–$130 million total, with Polyurethanes $60–$75 million, Performance Products $30–$40 million, Advanced Materials $50–$55 million.

• Management anticipates improved profitability in Q2 2026, driven by higher volumes and margin expansion from global pricing initiatives.

• Capital expenditures for 2026 expected to be ~$150 million, in line with 2025 levels, focused on maintenance, cybersecurity, and safety.

• No share repurchases anticipated for the remainder of 2026, with $547 million remaining under the current authorization.