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Wednesday, March 22, 2023

Huntsman Corp. (HUN) Stock on a Slide, Here’s the Potential Cause

Huntsman Corp. (HUN), a company that manufactures and sells differentiated organic chemical products worldwide, has plunged 22.12% in aftermarket trading session. Consequently, HUN stock is trading at $26.20 at the time of the writing. The slide could potentially be attributed to the review of strategic options for the textile effect. On Tuesday, HUN closed the day at $33.64 after a slight increase of 0.18% during regular trading hours.

Why HUN Plunging?

On Tuesday, HUN announced a review of strategic options for its Textile Effects Division. Alongside that, it also announced a multi-year compensation plan designed to align the incentives of the Company’s management team with the targets presented at the Company’s Investor Day in November. The Board of Directors of the company had authorized management to conduct a strategic review of the Textile Effects Division. The review will begin in Q1 2022. The Board of Directors also authorized management of the Company to implement a multi-year compensation plan for all Officers and Vice Presidents. The company has designed this plan to align with the interests of all shareholders and with the targets presented on the investors’ day.

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Q3 2021 Operational Results

On 29th October, HUN released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company generated net revenue of $2.28 billion against $1.51 billion for the same period of 2020. The net income for the three months stood at $225 million against $57 million for the same period of 2020. The diluted income per share for the quarter was $0.94 against $0.22 for the same period of 2020.

Executive Commentary

Peter R. Huntsman, Chairman, CEO, and President of HUN, while commenting on the results said that the company is pleased with the strong earnings it delivered during the quarter. The company saw strong pent-up demand across most of its businesses with favorable pricing dynamics. The company is optimistic for a bright future and remains focused on improving the quality of its margins.

Future Outlook for HUN

The last three months have seen HUN stock surge by more than 12%. With the business portfolio of the company improving over the last few months, it is believed that the stock is in a good shape to attract investors for long-term investments.

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