Record Income for Huntsman Records

Record Income for Huntsman Records

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K Chandrasekhar Rao at Kakatiya Mega Textile Park

The net income of Huntsman Corporation, a global manufacturer and marketer of differentiated chemicals, has been recorded at $179 million for the third quarter of fiscal 2017 compared to $183 million in the prior quarter. For the reported period, the company’s revenue stood at $2,169 million and the adjusted EBITDA came to total of $340 million.

The adjusted EBITDA was impacted by $50 million from Hurricane Harvey, compared to $234 million in the prior year period and $299 million in the prior quarter.

The increase in revenues in the company’s textile effects segment for the three months ended September 30, 2017 compared to the same period of 2016 was due to higher sales volumes, partially offset by lower average selling prices. Sales volumes increased in both textile chemicals and dyes, particularly in the Asian region. Average selling prices decreased primarily due to competitive market conditions. The increase in segment adjusted EBITDA was primarily due to higher sales volumes and lower fixed costs, partially offset by lower margins.