Huntsman beats by $0.06, beats on revs:
- Reports Q4 (Dec) earnings of $0.30 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $0.24; revenues rose 2.7% year/year to $2.4 bln vs the $2.26 bln Capital IQ Consensus.
- Adjusted EBITDA was $256 million compared to $240 million in the prior year period and $272 million in the prior quarter.
- "As I look at the past year, I am impressed by the quality of earnings that our businesses have achieved and how we are positioned moving into 2017. MDI urethanes continues to show steady and impressive growth, with differentiated MDI sales volumes growing 6% compared to last year and representing 85% of MDI urethanes EBITDA. Advanced Materials and Textile Effects have become solid performers with steady and modestly improving earnings. Our Performance Products business is poised for recovery in 2017. As TiO2 prices have rebounded, our Pigments and Additives division saw earnings double from 2015 and we expect earnings to improve meaningfully in 2017, due largely to price increases in TiO2 and the cumulative benefits of restructuring."
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