Short answer
Huntsman CORP (HUN) filed its fiscal 2016 10-K annual report with the SEC on Feb 15, 2017. It reported revenue of $9.7B and net income of $326M.
- Top risk flagged: EU titanium dioxide classification proposal by ANSES: Category 1B or 2 designation could restrict demand and raise workplace costs
FY2016 key financial metrics · XBRL
- Revenue
- $9.7B
- Net income
- $326M
- Operating margin
- 6.7%
- Gross margin
- 17.4%
- EPS (diluted)
- $1.36
- ROE
- 25.3%
- Operating cash flow
- $1.1B
Source: XBRL data from the Huntsman CORP (HUN) FY2016 10-K on SEC EDGAR. USD.
Huntsman CORP FY2016 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Global differentiated chemicals manufacturer across five segments, serving consumer and industrial markets from facilities in 29 countries
- Venator spin-off initiated for Pigments and Additives, while Textile Effects retained, targeting second-quarter 2017 separation
- European surfactants divested for $199 million cash and $225 million enterprise value, reinforcing focus on differentiated U.S. and Australian operations
- Approximately 15,000 associates worldwide and $152 million R&D spending in 2016
- Pori titanium dioxide fire disrupted 130,000 metric tons of capacity, approximately 15% of Huntsman’s TiO₂ capacity
Management Discussion & Analysis
- Revenue $9,657M, down $642M or 6% YoY, driven by lower prices across segments
- Adjusted EBITDA $1,127M, down 8% from $1,221M; gross profit $1,678M, down 9% from $1,848M
- Best segment: Pigments and Additives revenue $2,139M, down 1%, with adjusted EBITDA increasing from restructuring savings
- Worst segment: Performance Products revenue $2,126M, down 15%, with adjusted EBITDA down 31%
- Operating cash flow $1,088M, free cash flow $686M, capex $421M, $100M buyback in 2015, quarterly dividend $0.125 per share
- 2017 outlook: $400M capex, Pori fire affecting 15% of TiO2 capacity, plus planned maintenance and lower historical margins
Risk Factors
- EU titanium dioxide classification proposal by ANSES: Category 1B or 2 designation could restrict demand and raise workplace costs
- Brexit exposure: 29% of revenues from Europe amid uncertain U.K. trade and regulatory arrangements
- Titanium-containing feedstocks: limited global suppliers create production and cost vulnerability
- Competition from petroleum-integrated chemical companies: greater raw-material access and financial resources may pressure margins
- Debt $4,196 million, 74% of capitalization: $2.2 billion variable-rate borrowings amplify refinancing and interest-rate risk
Generated from the filing text; verify against the original. How to read a 10-K
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