This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Huntsman Management Discusses Q2 2012 Results - Earnings Call Transcript

During this call, we may make statements about our projections or expectations for the future. All such statements are forward-looking statements, and while they reflect our current expectations, they involve risks and uncertainties and are not guarantees of future performance. You should review our filings with the Securities and Exchange Commission for more information regarding the factors that could cause actual results to differ materially from these projections or expectations. We do not plan on publicly updating or revising any forward-looking statements during the quarter.

In addition, we will also refer to non-GAAP financial measures, such as EBITDA, adjusted EBITDA and adjusted net income or loss. You can find reconciliations to the most directly comparable GAAP financial measures in our earnings release, which has been posted on our website at

Let's turn to Slide 2. In our earnings release this morning, we reported second quarter 2012 revenue of $2,914,000,000, adjusted EBITDA of $365 million and adjusted earnings per share of $0.58 per diluted share. Our adjusted EBITDA was $365 million in the second quarter 2012 compared to $321 million in the prior year, an increase of 14%.

I will now turn the call over to Peter Huntsman, our President and CEO.

Peter R. Huntsman

Thank you, Kurt. Good morning, everyone. Thank you for joining us.

Let's turn to Slide #3. Adjusted EBITDA for our Polyurethanes division in the second quarter 2012 was $170 million, an improvement of $27 million compared to the prior year of $143 million of adjusted EBITDA. The increase in earnings was entirely attributed to improvements in our MDI urethanes volumes and margins. Sales volumes for our MDI products increased 12% compared to the prior year. We are encouraged by the strong growth in demand from our largest end markets: insulation, adhesives, coatings, elastomers and composite wood products, all of which grew at double-digit rates compared to the prior year. Despite economic concerns that dominate current headlines, sales volumes in Europe improved 15% compared to the prior year and 9% compared to the prior quarter. Most of this growth came in Northern Europe, where sales volumes for our MDI products improved 14%, whereas Southern Europe grew only 1% compared to the prior year.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs