Huntsman Issues Upbeat 2010 Forecast
THE WOODLANDS, Texas (
) --
Huntsman
(HUN) - Get Free Report
posted better-than-expected earnings in the fourth quarter, though down from the previous year, and says its upbeat about 2010.
Huntsman, a chemical company, said Friday it expects improving market conditions in 2010 and has a number of products in its pipeline that address energy concerns. Analysts expect the company to report earnings of 16 cents a share for 2010.
For the fourth quarter, net income attributable to Huntsman was $66 million, or 26 cents a share, on revenue of about $2.1 billion. A year earlier, Huntsman earned $598 million, or $2.53 a share. Adjusted net income was $70 million, or 27 cents a share, in the latest fourth quarter.
Revenue rose 2%. Huntsman's volumes increased, but still fell short of normalized demand.
The Wall Street consensus estimate for the quarter was a loss of 12 cents a share on revenue of $1.97 billion.
-- Reported by Andrea Tse in New York
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