Slide 1: 3Q24 Earnings Summary
3Q24 Earnings Summary November 4, 2024 1
Slide 2: Earnings Summary Conference Call
3rd Quarter 2024 Earnings Summary Conference Call Tuesday, November 5, 2024 10:00 a.m. ET Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=52266EEY Participant dial-in numbers: Domestic callers: (877) 402-8037 International callers: (201) 378-4913 2
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
Slide 4: Highlights
3Q24 Earnings Summary Highlights ($ in millions, except per share amounts) 3Q24 3Q23 Revenues $ 1,540 $ 1,506 Net loss attributable to Huntsman Corporation $ (33) $ - Adjusted net income $ 17 $ 27 Diluted loss per share $ (0.19) $ - Adjusted diluted income per share $ 0.10 $ 0.15 Adjusted EBITDA $ 1
Slide 5: Polyurethanes
3Q24 Earnings Summary Polyurethanes Revenues Adjusted EBITDA 3Q 2024 LTM Adjusted EBITDA Margin $3.8B Sales Revenue $1,003 $967 $76 $81 $208M Adj. EBITDA 8% 8% 5% Adj. EBITDA Margin 3Q24 3Q23 3Q24 3Q23 Highlights 4Q24 Outlook 3Q24 Y/Y Change Volumes increased 5% year-over-year, impacted Fourth q
Slide 6: Performance Products
3Q24 Earnings Summary Performance Products Revenues Adjusted EBITDA 3Q 2024 LTM $400 Adjusted EBITDA Margin $1.1B Sales Revenue $47 $350 $280 $277 $42 $158M $300 Adj. EBITDA 17% $250 $200 14% $150 $100 15% Adj. EBITDA Margin $50 $0 3Q24 3Q23 3Q24 3Q23 Highlights 4Q24 Outlook 3Q24 Y/Y Change Volume
Slide 7: Advanced Materials
3Q24 Earnings Summary Advanced Materials Revenues Adjusted EBITDA 3Q 2024 LTM Adjusted EBITDA Margin $1.1B Sales Revenue $49 $400 $350 $47 $261 $268 $180M $300 $250 Adj. EBITDA $200 18% 18% 17% $150 $100 Adj. EBITDA Margin $50 $0 3Q24 3Q23 3Q24 3Q23 Highlights 4Q24 Outlook 3Q24 Y/Y Change Volumes
Slide 8: Revenue Bridge
3Q24 Earnings Summary Revenue Bridge Year / Year Quarter / Quarter $76 ($38) ($4) $16 $1 ($51) $1,540 $1,506 $1,574 $1,540 (1) (2) (2) (1) (2) (2) 3Q23 Revenue Volume Price & Mix FX 3Q24 Revenue 2Q24 Revenue Volume Price & Mix FX 3Q24 Revenue (1) Excludes sales volumes of byproducts and raw material
Slide 9: Adjusted EBITDA Bridge – By Division
3Q24 Earnings Summary Adjusted EBITDA Bridge – By Division Year / Year Quarter / Quarter $7 $13 ($5) ($5) ($2) ($4) ($4) ($5) $136 $131 $131 $131 3Q23 Adjusted Polyurethanes Performance Advanced Corporate and 3Q24 Adjusted 2Q24 Adjusted Polyurethanes Performance Advanced Corporate and 3Q24 Adjusted
Slide 10: Cash Flow and Liquidity Considerations
3Q24 Earnings Summary Cash Flow and Liquidity Considerations 3Q24 Commentary Earnings and Cash Flow 3Q23 3Q24 2023 LTM Adjusted EBITDA $136 $131 $472 $387 Successfully placed $350 million of senior notes due in 2034 with a 5.7% Cash Flow From Operations $167 $134 $251 $292 coupon rate Capital Expe
Slide 11: 4Q24 Outlook Summary
3Q24 Earnings Summary 4Q24 Outlook Summary 4Q24 Adjusted EBITDA Polyurethanes $45M – $60M Performance Products $20M – $30M Advanced Materials $35M – $40M Corporate ~($40M) Total ~$60M – $90M Underlying 4Q24 Guidance Assumptions Low level of global construction and industrial activity Seasonal vo
Slide 12: 2024 Additional Modeling Considerations
3Q24 Earnings Summary 2024 Additional Modeling Considerations Adjusted EBITDA/ Income Statement Cash Flow Full Year Corporate & Other ~$165M Dividends from Equity Affiliates ~$50M Tailwind YoY* In Year Cost Savings Benefit ~$60M, excluding inflation Pension Contributions ~$15M Tailwind YoY Pension E
Slide 13: Financials and Reconciliation
3Q24 Earnings Summary Financials and Reconciliation USD In millions 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 3Q24 LTM Segment Revenues: Polyurethanes $ 1,386 $ 1,353 $ 1,257 $ 1,071 $ 5,067 $ 991 $ 1,012 $ 967 $ 895 $ 3,865 $ 926 $ 1,001 $ 1,003 $ 3,825 Performance Products 4
Slide 14: Financials and Reconciliation
3Q24 Earnings Summary Financials and Reconciliation USD In millions 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 4Q23 FY23 1Q24 2Q24 3Q24 3Q24 LTM Net income (loss) $ 240 $ 242 $ 115 $ (74) $ 523 $ 166 $ 31 $ 15 $ (59) $ 153 $ (23) $ 38 $ (17) $ (61) Net income attributable to noncontrolling interests (1