Huntsman Corporation · NYSE:HUN

Huntsman — Q4 2023 Earnings Presentation

15 slides from Huntsman's earnings presentation, Feb 22, 2024

  1. Slide 1: 4Q23 Earnings Summary

    4Q23 Earnings Summary February 21, 2024 1

  2. Slide 2: 4th Quarter 2023 Earnings Summary Conference Call

    4th Quarter 2023 Earnings Summary Conference Call Thursday, February 22, 2024 10:00 a.m. ET Webcast Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=4YckWj4j 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

    4Q23 Earnings Summary Highlights ($ in millions, except per share amounts) 4Q23 4Q22 2023 2022 Revenues $ 1,403 $ 1,650 $6,111 $ 8,023 Net (loss) income attributable to Huntsman Corporation $ (71) $ (91) $ 101 $ 460 Adjusted net (loss) income $ (36) $ 8 $ 67 $ 636 Diluted (loss) income per share $ (

  5. Slide 5: Polyurethanes

    4Q23 Earnings Summary Polyurethanes Revenues Adjusted EBITDA 2023 Adjusted EBITDA Margin $3.9B Sales Revenue $1,071 $37 $895 $248M Adj. EBITDA 3% $13 6% Adj. EBITDA Margin 1% 4Q23 4Q22 4Q23 4Q22 Highlights 1Q24 Outlook 4Q23 Y/Y Change  Volumes decreased 1% year-over-year,  First quarter 2024 adjus

  6. Slide 6: Performance Products

    4Q23 Earnings Summary Performance Products Revenues Adjusted EBITDA 2023 $400 Adjusted EBITDA Margin $1.2B Sales Revenue $350 $307 $61 $300 $260 $250 $201M Adj. EBITDA $200 20% $28 17% $150 $100 Adj. EBITDA Margin 11% $50 $0 4Q23 4Q22 4Q23 4Q22 Highlights 1Q24 Outlook 4Q23 Y/Y Change  Volumes decre

  7. Slide 7: Advanced Materials

    4Q23 Earnings Summary Advanced Materials Revenues Adjusted EBITDA 2023 $41 Adjusted EBITDA Margin $1.1B Sales Revenue $38 $400 $350 $278 $251 $186M $300 $250 Adj. EBITDA 15% 15% $200 17% $150 $100 Adj. EBITDA Margin $50 $0 4Q23 4Q22 4Q23 4Q22 Highlights 1Q24 Outlook 4Q23 Y/Y Change  Volumes decreas

  8. Slide 8: Revenue Bridge

    4Q23 Earnings Summary Revenue Bridge Year / Year Quarter / Quarter ($17) $0 $17 ($60) ($215) ($29) ($14) $1,650 ($32) $1,506 $1,403 $1,403 (1) (2) (2) (1) (2) (2) 4Q22 Revenue Volume Price Mix & Other FX 4Q23 Revenue 3Q23 Revenue Volume Price Mix & Other FX 4Q23 Revenue (1) Excludes sales volumes of

  9. Slide 9: Adjusted EBITDA Bridge – By Division

    4Q23 Earnings Summary Adjusted EBITDA Bridge – By Division Year / Year Quarter / Quarter $136 ($68) ($24) $17 $6 $87 ($19) ($11) ($3) $44 $44 ($33) 4Q22 Adjusted Polyurethanes Performance Advanced Corporate and 4Q23 Adjusted 3Q23 Adjusted Polyurethanes Performance Advanced Corporate and 4Q23 Adjuste

  10. Slide 10: Cost Realignment & Synergy Plans on Track

    4Q23 Earnings Summary Cost Realignment & Synergy Plans on Track Delivery of >$280M Run Rate Benefits Annualized Run Rate Expected $300 >$280M Commentary Announced Initiatives Benefits Completion $280 M&A Synergies & 2020 ~$140M Q1 2023 $260 $240 >$280M 2023 Annualized Run Rate Optimization Initiativ

  11. Slide 11: Cash Flow and Liquidity Considerations

    4Q23 Earnings Summary Cash Flow and Liquidity Considerations Commentary Earnings and Cash Flow 4Q22 4Q23 2022 2023 Adjusted EBITDA $87 $44 $1,155 $472  Repurchased ~2.1 million shares for ~$50 million Cash Flow From Operations(1) $297 $166 $892 $251  Repurchased $350 million shares full year 2023

  12. Slide 12: 1Q24 Outlook Summary

    4Q23 Earnings Summary 1Q24 Outlook Summary 1Q24 Adjusted EBITDA Polyurethanes $30M – $40M Performance Products $35M – $40M Advanced Materials $40M – $45M Corporate ~($40M) Total ~$65M – $85M 12 12

  13. Slide 13: 2024 Additional Modeling Considerations

    4Q23 Earnings Summary 2024 Additional Modeling Considerations Adjusted EBITDA/ Income Statement Cash Flow Full Year Corporate & Other ~$170M Dividends from Equity Affiliates ~$15M Tailwind YoY In Year Cost Savings Benefit ~$60M, excluding inflation Pension Contributions ~$15M Tailwind YoY Pension Ex

  14. Slide 14: Financials and Reconciliation

    4Q23 Earnings Summary Financials and Reconciliation USD In millions 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 4Q23 FY23 Segment Revenues: Polyurethanes $ 1,386 $ 1,353 $ 1,257 $ 1,071 $ 5,067 $ 991 $ 1,012 $ 967 $ 895 $ 3,865 Performance Products 480 492 434 307 1,713 334 307 277 260 1,178 Advanced Ma

  15. Slide 15: Financials and Reconciliation

    4Q23 Earnings Summary Financials and Reconciliation USD In millions 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 3Q23 4Q23 FY23 Net income (loss) $ 240 $ 242 $ 115 $ (74) $ 523 $ 166 $ 31 $ 15 $ (59) $ 153 Net income attributable to noncontrolling interests (17) (14) (15) (17) (63) (13) (12) (15) (12) (52) Ne

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