Q2 2024 Huntsman Corp Earnings Call Transcript
Key Points
- Huntsman Corp (HUN) reported a 9% year-over-year and 8% quarter-over-quarter increase in volumes across the entire business.
- The company generated over $50 million in cash flow from operations in the second quarter.
- Cost initiatives over the past three years have been effective, helping the company stay ahead of inflation.
- The construction, aerospace, infrastructure, power, and elastomers businesses continue to show improvement.
- Huntsman Corp (HUN) has a strong focus on cash and cost management, which remains a priority.
- Concerns remain regarding Europe's de-industrialization and excess chemical capacity flowing out of Asia.
- The single largest catalyst for margin improvement, a resurgence in commercial and residential construction demand, is contingent on interest rate reductions.
- Third-quarter order patterns appear flat compared to the second quarter, indicating cautiousness for the second half of the year.
- The company faces competitive pressures in performance products, particularly in Europe due to Asian-based maleic imports.
- Advanced materials experienced a 10% year-over-year decline in price mix, primarily due to mix impacts.
Hello and welcome to the Huntsman Corporation second quarter 2024 earnings call and conference. (Operator Instructions) It's now my pleasure to turn the call over to Ivan Marcuse, Vice President, Investor Relations and Corporate Development. Please go ahead, Ivan.
Thank you, Kevin, and good morning, everyone. Welcome to Huntsman's second quarter 2024 earnings call. joining us on the call today are Peter Huntsman, Chairman, CEO, and President; Phil Lister, Executive Vice President, CFO.
Last night on August 5, 2024, after the US equity markets closed, we released our earnings for the second quarter 2024 via the press release and posted to our website, huntsman.com. We also posted a set of slides and details commentary discussing the second quarter on our website.
Peter Huntsman will provide some opening comments shortly, and we will then move to the question-and-answer session for the remainder of the call. During the call, let me remind you that we
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