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Most of Huntsman Corporation’s revenue comes from chemicals that customers combine to make polyurethane products, used in insulation, furniture, footwear and other applications. It supplies ingredients such as MDI and polyols, either separately or in formulations tailored to a customer’s needs. Manufacturers buy these materials directly or through distributors and agents, while nearby technical-service facilities help customers use them.
Huntsman also sells amines and maleic anhydride to industrial customers, alongside specialized resins and polymer formulations for particular applications. Its Advanced Materials business includes ARALDITE high-performance adhesives and materials qualified for aerospace customers. These businesses contribute less revenue than Polyurethanes but extend its sales beyond polyurethane ingredients.
Demand depends on customers’ production needs, including activity in construction, housing and aerospace. Earnings also depend on chemical supply and demand and on whether selling prices cover raw-material and energy costs. Benzene is a major input cost for its MDI products, and Huntsman cannot always pass higher costs on promptly. Chemical-registration rules and environmental, health and safety permits can restrict which products it sells and whether plants may operate.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Huntsman's results depend chiefly on global MDI demand and margins, while its joint venture with Sinopec supplies propylene oxide to its downstream China business.
Dow competes with Huntsman to supply manufacturers with polyurethane ingredients and tailored mixtures—MDI, polyols and polyurethane systems—for insulation, furniture and other industrial applications.
Olin competes with Huntsman's Advanced Materials business to sell epoxy materials to industrial customers. Watch Olin's epoxy prices and sales volumes for clues to conditions facing Huntsman's epoxy products.
Westlake Corporation shares Huntsman's exposure to construction demand and competes with it in epoxy materials sold to industrial customers. Westlake's sales of building products and PVC pipe offer a read on the construction activity that also drives demand for Huntsman's insulation chemicals.
Eastman's alkylamine chemistry overlaps Huntsman's amines business, and both sell specialty materials to customers whose demand follows industrial manufacturing. Demand for Eastman's chemical intermediates and specialty materials offers a read on the industrial conditions facing Huntsman's Performance Products and Advanced Materials businesses.
LyondellBasell and Huntsman participate in the same polyurethane production chain: LyondellBasell sells propylene oxide and its derivatives, while Huntsman sells polyols and MDI-based chemicals that customers turn into polyurethane products. Watch LyondellBasell's propylene oxide business for conditions in an ingredient market where Huntsman buys in North America and Europe.
Celanese shares Huntsman's exposure to automotive, construction and industrial customers: it sells engineered polymers into applications that also use Huntsman's polyurethane and advanced-polymer products. Watch demand from those customers in Celanese's Engineered Materials business rather than its acetyl products.
H.B. Fuller competes with Huntsman for manufacturers buying industrial adhesives and tailored bonding formulations, with both offering technical support. H.B. Fuller's news on adhesive performance, supply reliability and technical service matters to the competition facing Huntsman's ARALDITE adhesives.
Housing Starts (Sep)
Huntsman’s sales of polyurethane and other chemicals to housing and construction customers depend partly on how many homes are being built, which can change demand for its products.
Expected1.31MLast release1.275M
If it comes in above expectations
If the reading is above the 1.31M estimate, it is above the previous 1.275M. More building can raise customer demand for Huntsman’s polyurethane and other chemicals, potentially supporting sales volumes.
If it comes in below expectations
Less building can reduce customer demand for Huntsman’s polyurethane and other chemicals, potentially lowering sales volumes.
Dow Inc. earningsDOW
Dow's report will show how demand and pricing are moving for polyurethane ingredients and systems, which it sells to the same kinds of manufacturers as Huntsman.
Look at Dow's polyurethane sales and pricing. Stronger sales with firm prices would suggest demand from the manufacturers both companies serve, or market pricing, is holding up, though Dow may also compete harder for orders; weaker sales and prices would point to a tougher market for Huntsman's polyurethane ingredients and systems.
Eastman Chemical Company earningsEMN
Eastman sells chemical intermediates and specialty materials to industrial customers, so its results offer a read on demand facing Huntsman's Performance Products and Advanced Materials businesses.
Look at sales in Eastman's chemical intermediates and specialty materials businesses for clues about industrial customers' orders. Stronger sales would suggest that demand from industrial buyers is holding up, a more supportive backdrop for Huntsman's Performance Products and Advanced Materials; weaker sales would point to softer demand among related customers, not serve as a substitute for Huntsman's own results.
Olin Corp. earningsOLN
Olin and Huntsman's Advanced Materials business both sell epoxy materials to industrial customers, so Olin's prices and sales volumes show conditions in this competitive market.
Read Olin's epoxy prices alongside sales volumes. Firm prices with higher volumes would suggest industrial demand and pricing are holding up, helping Huntsman's epoxy products compete on sales and price; falling prices and volumes would point to weaker demand or stronger competitive pressure.
Westlake Corporation earningsWLK
Westlake Corporation sells building products and PVC pipe, so its results offer a read on construction activity that drives demand for Huntsman's insulation chemicals.
Look at Westlake Corporation's building-products and PVC-pipe sales. Stronger sales in both would suggest construction activity is holding up, a more supportive demand backdrop for Huntsman's polyurethane insulation chemicals; weaker sales would point to pressure on construction-related demand, but would not establish Huntsman's own sales.
LyondellBasell Industries N.V. earningsLYB
LyondellBasell sells propylene oxide, which Huntsman uses as a raw material, so its propylene oxide business offers a read on supply and cost conditions.
Look at sales and market conditions in LyondellBasell's propylene oxide business. If supply is ample and prices ease, and Huntsman's own purchase costs fall while its selling prices hold, input-cost pressure could lessen; tighter supply or higher prices would raise Huntsman's cost and supply risks. The conclusion depends on whether any cost change reaches Huntsman's margins.
Huntsman Corporation earningsThis company
Polyurethanes is Huntsman's largest business, and this report will show whether its selling prices and volumes can support better earnings.
Read polyurethane selling prices and volumes alongside adjusted EBITDA, the company’s adjusted measure of operating earnings before interest, taxes, depreciation and amortization. Higher prices or volumes accompanied by higher adjusted EBITDA would show that stronger sales are translating into better earnings; continued weakness in prices or volumes alongside falling adjusted EBITDA would show that demand, pricing or input costs are still squeezing profit.
H.B. Fuller Company earningsFUL
H.B. Fuller competes with Huntsman for manufacturers' industrial-adhesive and formulation business, where technical support also affects supplier choice.
Look at H.B. Fuller's industrial-adhesives sales, and whether its report discusses supply reliability and technical service. Stronger sales with effective service would suggest manufacturers are buying and that Huntsman's ARALDITE adhesives face a stronger contest for orders; weaker sales could signal softer demand, but would not establish a change in Huntsman's own sales.
