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Utah's Huntsman Corp. reports strong second-quarter results

Published August 3, 2012 8:44 am

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Huntsman Corp., the worldwide chemicals conglomerate run out of Salt Lake City and The Woodlands, Texas, said its net income attributed to the company's operations increased 9 percent, to $124 million, during its second quarter ended June 30.

Revenue was $2.9 billion.

"We experienced a solid second quarter, in fact it was one of the best we've ever had," said Peter Huntsman, the company's president and CEO.

He added that the strong demand for many of the company's products, which are used by a wide range of industries globally, suggest that the world's economies may not be in as dire straights as economic data suggest.

Huntsman's second-quarter performance was led by the company's polyurethanes segment, which saw its revenue increase 12 percent, to $1.27 billion, compared with $1.13 billion in the same quarter a year earlier. Polyurethanes are chemicals used in the production of foams, insulation and adhesives.

For the first six months of its 2012 fiscal year, Huntsman saw its revenue increase to $5.8 billion from $5.6 billion a year earlier.

Net income attributed to Huntsman Corp. for the six-month period reached $287 million, or $1.21 cents per share, compared with $176 million, or 74 cents per share, recorded for the first half of 2011.