First quarter 2026 net loss attributable to Huntsman of $53 million compared to a net loss of $5 million in the prior year period; first quarter 2026 diluted loss per share of $0.31 compared to diluted loss per share $0.03 in the prior year period.
First quarter 2026 adjusted net loss attributable to Huntsman of $35 million compared to adjusted net loss of $19 million in the prior year period; first quarter 2026 adjusted diluted loss per share of $0.20 compared to adjusted diluted loss per share of $0.11 in the prior year period.
First quarter 2026 adjusted EBITDA of $73 million compared to $72 million in the prior year period.
First quarter 2026 net cash used in operating activities from continuing operations was $53 million. Free cash flow was a use of cash of $91 million for the first quarter 2026 compared to a use of cash of $107 million in the prior year period.
Three months ended
March 31,
In millions, except per share amounts
2026
2025
Revenues
$ 1,420
$ 1,410
Net loss attributable to Huntsman Corporation
$ (53)
$ (5)
Adjusted net loss(1)
$ (35)
$ (19)
Diluted loss per share
$ (0.31)
$ (0.03)
Adjusted diluted loss per share(1)
$ (0.20)
$ (0.11)
Adjusted EBITDA(1)
$ 73
$ 72
Net cash used in operating activities from continuing operations
$ (53)
$ (71)
Free cash flow(2)
$ (91)
$ (107)
See end of press release for footnote explanations and reconciliations of non-GAAP measures.
THE WOODLANDS, Texas, April 30, 2026 /PRNewswire/ -- Huntsman Corporation (NYSE:HUN) today reported first quarter 2026 results with revenues of $1,420 million, net loss attributable to Huntsman of $53 million, adjusted net loss attributable to Huntsman of $35 million and adjusted EBITDA of $73 million.
Peter R. Huntsman, Chairman, President, and CEO, commented:
"The first two months of the first quarter progressed as expected with some early trends of year-on-year volume improvement. In March, the onset of the war in the Middle East introduced significant volatility with a sharp rise in feedstock costs, particularly benzene and European natural gas. We immediately increased prices across all products and regions to ensure margins were protected. Despite the conflict, we did see year on year volume growth of 4% in Polyurethanes including some improvement in Europe, and our Advanced Materials revenues grew over 10% as sales into Aerospace increased. While conditions remain highly unpredictable, we are concentrating on margin improvement, cost reduction and cash flow generation. Looking ahead to the second quarter of 2026, we anticipate a step up in profitability, with an increase in volumes combined with margin expansion resulting from our worldwide pricing initiatives."
Segment Analysis for 1Q26 Compared to 1Q25
Polyurethanes
The increase in revenues in our Polyurethanes segment for the three months ended March 31, 2026 compared to the same period of 2025 was primarily due to higher sales volumes, partially offset by lower average selling prices. Sales volumes increased primarily in the Americas and Europe regions. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics, partially offset by the positive impact of major foreign currency exchange rate movements against the U.S. dollar. The decrease in segment adjusted EBITDA was primarily due to lower margins, partially offset by higher sales volumes, higher equity earnings from our minority-owned joint venture in China and cost savings achieved from our cost optimization program.
Performance Products
The decrease in revenues in our Performance Products segment for the three months ended March 31, 2026 compared to the same period of 2025 was primarily due to lower sales volumes and lower average selling prices. Sales volumes decreased primarily due to the closure of our Moers, Germany maleic anhydride facility announced in May 2025 and lower demand. Average selling prices decreased primarily due to competitive pressures. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes and margins, partially due to shipment disruptions throughout March 2026 at our consolidated joint venture in Saudi Arabia.
Advanced Materials
The increase in revenues in our Advanced Materials segment for the three months ended March 31, 2026 compared to the same period of 2025 was primarily due to higher average selling prices and higher sales volumes. Average selling prices increased primarily due to favorable sales mix and the positive impact of major foreign currency exchange rate movements against the U.S. dollar. Sales volumes increased primarily in our aerospace, power, and automotive markets. The increase in segment adjusted EBITDA was primarily due to higher sales volumes.
Liquidity and Capital Resources
During the three months ended March 31, 2026, our free cash flow used was $91 million as compared to a use of $107 million in the same period of 2025. As of March 31, 2026, we had approximately $0.9 billion of combined cash and unused borrowing capacity.
During the three months ended March 31, 2026, we spent $38 million on capital expenditures as compared to $36 million in the same period of 2025. During 2026, we expect capital expenditures to be similar with 2025.
Income Taxes
In the first quarter of 2026, our effective tax rate was -38% and our adjusted effective tax rate was not meaningful.
Earnings Conference Call Information
We will hold a conference call to discuss our first quarter 2026 financial results on Friday, May 1, 2026, at 10:00 a.m. ET.
Webcast link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=CrqpAfyY
Participant dial-in numbers:Domestic callers: (877) 402-8037International callers: (201) 378-4913
The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.
Upcoming Conferences During the second quarter 2026, a member of management is expected to present at:TPH&Co. Hotter 'N Hell Conference, May 12, 2026Mizuho Smid Cap Chemicals Conference, June 2, 2026 Deutsche Bank Global Industrials & Materials Conference, June 3, 2026
A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.
Table 1 -- Results of Operations
Three months ended
March 31,
In millions, except per share amounts
2026
2025
Revenues
$ 1,420
$ 1,410
Cost of goods sold
1,237
1,209
Gross profit
183
201
Operating expenses:
Selling, general and administrative
163
166
Research and development
29
32
Restructuring, impairment and plant closing costs
6
1
Gain on acquisition of assets, net
-
(5)
Income associated with litigation matter, net
-
(33)
Other operating expense (income), net
1
(2)
Total operating expenses
199
159
Operating (loss) income
(16)
42
Interest expense, net
(21)
(19)
Equity in income of investment in unconsolidated affiliates
5
1
Other income, net
3
3
(Loss) income from continuing operations before income taxes
(29)
27
Income tax expense
(11)
(15)
(Loss) income from continuing operations
(40)
12
Loss from discontinued operations, net of tax
(1)
(1)
Net (loss) income
(41)
11
Net income attributable to noncontrolling interests
(12)
(16)
Net loss attributable to Huntsman Corporation
$ (53)
$ (5)
Adjusted EBITDA(1)
$ 73
$ 72
Adjusted net loss (1)
$ (35)
$ (19)
Basic loss per share
$ (0.31)
$ (0.03)
Diluted loss per share
$ (0.31)
$ (0.03)
Adjusted diluted loss per share(1)
$ (0.20)
$ (0.11)
Common share information:
Basic weighted average shares
173
172
Diluted weighted average shares
173
172
Diluted shares for adjusted diluted loss per share
173
172
See end of press release for footnote explanations.
Table 2 -- Results of Operations by Segment
Three months ended
March 31,
Better /
In millions
2026
2025
(worse)
Segment revenues:
Polyurethanes
$ 923
$ 912
1 %
Performance Products
228
257
(11 %)
Advanced Materials
279
249
12 %
Total reportable segments' revenues
1,430
1,418
1 %
Intersegment eliminations
(10)
(8)
N/M
Total revenues
$ 1,420
$ 1,410
