Huntsman (HUN) Revises Q1 Guidance Upwards; Comments On Recent Credit Rating Upgrade

Management of Huntsman Corporation (NYSE: HUN) is participating in several investor meetings in the coming weeks and intends to provide the following updated guidance for the first quarter 2022:

Following a review of February results and the developing business trends in March, management now expects first quarter 2022 adjusted EBITDA to be at or even above the high end of the previously communicated range of $350 million to $380 million. Adjusted EBITDA margin for the first quarter is trending to 17% even in the face of significant energy cost escalation in Europe.

The stronger updated outlook is primarily driven by continued momentum in the Performance Products segment and to a lesser degree in Advanced Materials. In the Polyurethanes segment, headwinds in the European region are being offset by strength in North America and Asia.

Peter Huntsman, Chairman of the Board, President and CEO, commented: "The multi-year transformation of our portfolio combined with relentless pricing and cost execution are allowing all of our businesses to perform well despite macro headwinds in Europe. Furthermore, late last week we received an upgrade from Fitch Ratings to 'BBB' from 'BBB-' further validating our overall financial profile, underlying business strength and clear strategy. I look forward to discussing our continued momentum on the heels of our record 2021 results with shareholders, investors, and analysts in the coming weeks."

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