Huntsman Corporation · NYSE:HUN

Huntsman — Q2 2023 Earnings Presentation

14 slides from Huntsman's earnings presentation, Aug 1, 2023

  1. Slide 1: 2Q23 Earnings Summary

    2Q23 Earnings Summary July 31, 2023 1

  2. Slide 2: Earnings Summary Conference Call Details

    2nd Quarter 2023 Earnings Summary Conference Call Tuesday, August 1, 2023 10:00 a.m. ET Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=dGLJi95S Participant dial-in numbers: Domestic callers: (877) 402-8037 International callers: (201)378-4913 2

  3. Slide 3: General Disclosure: Forward-Looking Statements

    General Disclosure Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward- looking statements include statements concerning our plans, obj

  4. Slide 4: Highlights

    2Q23 Earnings Summary Highlights ($ in millions, except per share amounts) 2Q23 2Q22 Revenues $ 1,596 $ 2,170 Net income attributable to Huntsman Corporation $ 19 $ 228 Adjusted net income $ 39 $ 250 Diluted income per share $ 0.11 $ 1.10 Adjusted diluted income per share $ 0.22 $ 1.21 Adjusted EBIT

  5. Slide 5: Polyurethanes

    2Q23 Earnings Summary Polyurethanes Revenues Adjusted EBITDA 2Q23 LTM Adjusted EBITDA Margin $4.3B Sales Revenue $1,353 $229 $1,012 $329M Adj. EBITDA 17% $88 9% 8% Adj. EBITDA Margin 2Q23 2Q22 2Q23 2Q22 Highlights 3Q23 Outlook 2Q23 Y/Y Change  Volumes decreased 10% year over year, due to  Third qu

  6. Slide 6: Performance Products

    2Q23 Earnings Summary Performance Products Revenues Adjusted EBITDA 2Q23 LTM $152 Adjusted EBITDA Margin $1.4B Sales Revenue $492 $307 $297M Adj. EBITDA 31% $55 21% Adj. EBITDA Margin 18% 2Q23 2Q22 2Q23 2Q22 Highlights 3Q23 Outlook 2Q23 Y/Y Change  Volumes decreased 31% due to continued weak  Thir

  7. Slide 7: Advanced Materials

    2Q23 Earnings Summary Advanced Materials Revenues Adjusted EBITDA 2Q23 LTM Adjusted EBITDA Margin $1.2B Sales Revenue $67 $400 $350 $336 $284 $51 $198M $300 $250 Adj. EBITDA $200 18% 20% 17% $150 $100 Adj. EBITDA Margin $50 $0 2Q23 2Q22 2Q23 2Q22 Highlights 3Q23 Outlook 2Q23 Y/Y Change  Volumes dec

  8. Slide 8: Adjusted EBITDA Bridge

    2Q23 Earnings Summary Adjusted EBITDA Bridge Year / Year – By Account Quarter / Quarter – By Account $21 $13 $23 ($37) ($136) $410 $11 $156 $136 ($101) ($28) $156 2Q22 Adjusted Volume Gross Profit SG&A / R&D FX & Other (1) 2Q23 Adjusted 1Q23 Adjusted Volume Gross Profit SG&A / R&D FX & Other (1) 2Q2

  9. Slide 9: Cost Realignment & Synergy Plans on Track

    2Q23 Earnings Summary Cost Realignment & Synergy Plans on Track Delivery of ~$280M Run Rate Benefits Targeted by End of 2023 Annualized Run Rate Expected $300 ~$280M Commentary Announced Initiatives Benefits Completion $280 M&A Synergies & 2020 ~$140M Q1 2023 $260 $240 ~$265M 2Q23 Annualized Run Rat

  10. Slide 10: Cash Flow and Liquidity Considerations

    2Q23 Earnings Summary Cash Flow and Liquidity Considerations 2Q23 Commentary Earnings and Cash Flow 2Q22 2Q23 2022 LTM Adjusted EBITDA $410 $156 $1,155 $650  Repurchased ~3.8 million shares for ~$98 million Cash Flow From Operations(1) $243 $40 $892 $500  YTD $199 million shares repurchased, on tr

  11. Slide 11: 3Q23 Outlook Summary

    2Q23 Earnings Summary 3Q23 Outlook Summary 3Q23 Adjusted EBITDA Polyurethanes $75M – $90M Performance Products $40M – $50M Advanced Materials $48M – $53M Corporate ~($40M) Total ~$125M – $155M 11 11

  12. Slide 12: 2023 Additional Modelling Considerations

    2Q23 Earnings Summary 2023 Additional Modelling Considerations Adjusted EBITDA/ Income Statement Cash Flow Full Year Corporate & Other ~$175M Dividends from Equity Affiliates ~$15M Headwind YoY In Year Cost Optimization Benefit ~$80M, excluding inflation Pension Contributions ~$10M Tailwind YoY Pens

  13. Slide 13: Financials and Reconciliation

    2Q23 Earnings Summary Financials and Reconciliation USD In millions 1Q21 2Q21 3Q21 4Q21 FY21 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 2Q23 LTM Segment Revenues: Polyurethanes $ 1,068 $ 1,155 $ 1,403 $ 1,393 $ 5,019 $ 1,386 $ 1,353 $ 1,257 $ 1,071 $ 5,067 $ 991 $ 1,012 $ 4,331 Performance Products 305 371

  14. Slide 14: Financials and Reconciliation

    2Q23 Earnings Summary Financials and Reconciliation USD In millions 1Q21 2Q21 3Q21 4Q21 FY21 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 2Q23 LTM Net income (loss) $ 100 $ 172 $ 225 $ 607 $ 1,104 $ 240 $ 242 $ 115 $ (74) $ 523 $ 166 $ 31 $ 238 Net income attributable to noncontrolling interests (17) (16) (16

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