Huntsman more than doubles polyurethane EBITDA

Polyurethanes segment adjusted EBITDA rose 113% to $66 million, compared with $31 million in the corresponding quarter of 2025. Segment revenue increased 16% from $932 million to $1.079 billion.

Huntsman said average MDI selling prices increased across the Americas, Europe and Asia-Pacific as supply-and-demand conditions improved. MDI sales volumes also increased in the Americas and Europe.

Selling prices and product mix contributed ten percentage points to the polyurethane division’s revenue growth, while currency movements added two percentage points and higher sales volumes contributed four percentage points.

The company attributed the improvement in polyurethane adjusted EBITDA to higher prices and volumes, increased earnings from its minority-owned joint venture in China and savings from its cost optimization program. These gains were partly offset by higher raw material costs.

Across the group, Huntsman reported second-quarter revenue of $1.663 billion, up 14% from $1.458 billion a year earlier. Adjusted EBITDA increased from $74 million to $120 million.

The company reduced its quarterly net loss from $158 million in 2025 to $6 million. However, free cash flow deteriorated from an inflow of $55 million to an outflow of $90 million, largely reflecting changes in working capital.

“We delivered a solid quarter, supported by higher volumes across all three segments and pricing actions that offset a significant increase in raw material costs. Improved industrial demand helped counter continued softness in construction. Rising and volatile energy and crude oil related costs, particularly in Europe, remain a headwind, and we will stay focused on additional price increases and cost-reduction initiatives to help offset these pressures.

“Our planned merger of equals with Olin Corporation continues to progress at pace. The strong collaboration between our teams reinforces my confidence in our ability to deliver the synergy targets we have outlined. We also expect the combined company to benefit from vertical integration, greater scale, and a stronger financial profile, creating meaningful value for shareholders of both companies. The stockholder vote is scheduled for August 25, 2026, and we are excited about the future of OlinHuntsman,” said chairman, president and CEO Peter Huntsman.

Huntsman and Olin announced their proposed all-stock merger in June. The transaction, which is expected to close during the first half of 2027, would create a combined chemicals group with annual revenue of approximately $12.5 billion. The companies expect the combination to produce more than $400 million in annual synergy and integration benefits following full integration.

Huntsman