Huntsman Corporation · NYSE:HUN
Huntsman — Earnings Presentation (October 2017)
20 slides from Huntsman's earnings presentation, Oct 31, 2017
Slide 1: Select Historical Financials
Select HistoricalFinancials Updated to reflect treatment of Pigments & Additives as discontinued operations
Slide 2: General
General As previously announced, we completed the separation of our Pigments & Additives division through an Initial Public Offering (“IPO”) of ordinary shares of Venator Materials PLC (“Venator”) on August 8, 2017. It is our intention to monetize our 75.4% retained ownership in Venator at prevailin
Slide 3: Huntsman 2017
HUNTSMAN Enriching lives through innovation 2017
Slide 4: 2017 Results of Operations
2017 Results of Operations 2017 Six months ended Jun 30 Three months ended Mar 31 Jun 30 In millions, except per share amounts Revenues Cost of goods sold Gross profit Operating expenses Restructuring, impairment and plant closing costs $ 1,932 1,540 $ 2,054 1,617 $ 3,986 3,157 392 219 9 - 437 220 3
Slide 5: 2017 Reconciliation of US GAAP Quarterly to Non-GAAP Measures
2017 Reconciliation of US GAAP Quarterly to Non-GAAP Measures 2017 Income Tax Expense Diluted Income Per Share EBITDA Net Income Three months ended Three months ended Three months ended Three months ended In millions, except per share amounts Mar 31 Jun 30 Mar 31 Jun 30 Mar 31 Jun 30 Mar 31 Jun 30 N
Slide 6: 2017 Reconciliation of US GAAP to Non-GAAP Measures June YTD
2017 Reconciliation of US GAAP to Non-GAAP Measures June YTD Six months ended Jun 30, 2017 Income Tax Expense Diluted Income Per Share In millions, except per share amounts EBITDA Net Income $ 275 (32) $ 275 (32) $ 1.13 (0.13) Net income Net income attributable to noncontrolling interests Net income
Slide 7: 2017 Selected Balance Sheet Items
2017 Selected Balance Sheet Items 2017 Mar 31 Jun 30 In millions Cash Accounts and notes receivable, net Inventories Other current assets Current assets held for sale Property, plant and equipment, net Other assets Noncurrent assets held for sale Total assets $ 434 1,249 1,057 301 794 3,030 1,176 1,
Slide 8: 2017 Summarized Statement of Cash Flows
8 HUNTSMAN 2017 Summarized Statement of Cash Flows 2017 Six months Three months ended ended In millions Mar 31 Jun 30 Jun 30 Total cash at beginning of period<al$425 $469 $ 425 Net cash provided by operating activities-continuing operations 70 207 277 Net cash provided by operating activities-discon
Slide 9: 2017 Free Cash Flow
2017 Free Cash Flow 2017 Six months ended Jun 30 Three months ended In millions Mar 31 Jun 30 Free cash flow(3): Net cash provided by operating activities Capital expenditures All other investing activities, excluding acquisition and disposition activities(b) $ 70 (51) $ 207 (50) $ 277 (101) 3 (2) 1
Slide 10: Huntsman 2016
HUNTSMAN Enriching lives through innovation 2016
Slide 11: 2016 Results of Operations
2016 Results of Operations 2016 Twelve months ended Dec 31 Three months ended Mar 31 Jun 30 Sept 30 Dec 31 In millions, except per share amounts $ 1,815 1,425 $ 1,968 1,544 $ 1,831 1,475 $ 1,904 1,548 $ 7,518 5,992 Revenues Cost of goods sold Gross profit Operating expenses Restructuring, impairment
Slide 12: 2016 Reconciliation of US GAAP to Non-GAAP Measures Quarterly
2016 Reconciliation of US GAAP to Non-GAAP Measures Quarterly 2016 Income Tax Expense Diluted Income Per Share EBITDA Net Income Three months ended Three months ended Three months ended Three months ended Mar 31 Jun 30 Sept 30 Dec 31 Mar 31 Jun 30 Sept 30 Dec 31 Mar 31 Jun 30 Sept 30 Dec 31 Mar 31 J
Slide 13: 2016 Reconciliation of US GAAP to Non-GAAP Measures Full Year
2016 Reconciliation of US GAAP to Non-GAAP Measures Full Year Twelve months ended Dec 31, 2016 Income Tax Expense Diluted Income Per Share EBITDA Net Income In millions, except per share amounts Net income Net income attributable to noncontrolling interests Net income attributable to Huntsman Corpor
Slide 14: 2016 Selected Balance Sheet Items
2016 Selected Balance Sheet Items 2016 In millions Mar 31 Jun 30 Sept 30 Dec 31 Cash Accounts and notes receivable, net Inventories Other current assets Current assets held for sale Property, plant and equipment, net Other assets Noncurrent assets held for sale Total assets $ 192 1,270 1,156 277 935
Slide 15: 2016 Summarized Statement of Cash Flows
> > 15 HUNTSMAN 2016 Summarized Statement of Cash Flows 2016 Twelve months Three months ended ended In millions Mar31Jun 30 Sept30Dec31Dec31 Totalcash at begilnilg of period(a)$ 269$ 218 $ 383$450 $269 Net cash provided by operating activities - continuing operations 126 277 333 238 974 Net cash pro
Slide 16: 2016 Free Cash Flow
2016 Free Cash Flow 2016 Twelve months ended Dec 31 Three months ended Mar 31 Jun 30 Sept 30 Dec 31 In millions Free cash flow(3): Net cash provided by operating activities Capital expenditures All other investing activities, excluding acquisition and disposition activities(b) Total free cash flow(3
Slide 17: Appendix
HUNTSMAN Enriching lives through innovation Appendix
Slide 18: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 ($ in millions) Net Income Net income attributable to noncontrolling interests Net income (loss) attributable to Huntsman Corporation Interest expense, net Income tax expense (benefit) Depreciation and amortization Interest,
Slide 19: Revenue, Adjusted EBITDA & Margin by Segment
Revenue, Adjusted EBITDA & Margin by Segment ($ in millions) Revenue Polyurethanes Performance Products Advanced Materials Textile Effects Corporate, LIFO and other Total Pro Forma(2)(3) Pro Forma(2)(3) Pro Forma(2)(3) Pro Forma(2)(3) Pro Forma(2)(3) Pro Forma(2)(3) Pro Forma(2) Pro Forma(2) 3Q15 4Q
Slide 20: Explanatory Notes
Explanatory Notes We use adjusted EBITDA to measure the operating performance of our business and for planning and evaluating the performance of our business segments. We provide adjusted net income because we feel it provides meaningful insight for the investment community into the performance of o