Short answer
Huntsman CORP (HUN) filed its fiscal 2018 10-K annual report with the SEC on Feb 12, 2019. It reported revenue of $9.4B (+12.2% year over year) and net income of $337M.
- Top risk flagged: EPA Risk Management Program amendments effective September 21, 2018, requiring hazard analyses, third-party audits and public chemical information
FY2018 key financial metrics · XBRL
- Revenue
- $9.4B
- +12.2% YoY
- Net income
- $337M
- −47.0% YoY
- Operating margin
- 11.1%
- +0.9 pp YoY
- Gross margin
- 21.6%
- −0.1 pp YoY
- EPS (diluted)
- $1.39
- −46.7% YoY
- ROE
- 13.4%
- −10.9 pp YoY
- Operating cash flow
- $1.2B
- −1.0% YoY
Source: XBRL data from the Huntsman CORP (HUN) FY2018 10-K on SEC EDGAR. USD.
Huntsman CORP FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Global differentiated organic chemicals manufacturer across Polyurethanes, Performance Products, Advanced Materials and Textile Effects
- Demilec acquisition for approximately $353 million, adding North American spray polyurethane foam formulations to Polyurethanes
- Venator deconsolidation: Huntsman ownership reduced to approximately 49% after selling 4% for $19 million
- Revenue $9,379 million, up from $8,358 million in 2017, with approximately 10,000 associates worldwide
- First-quarter 2018 capacity expansions at Chinese MDI joint ventures, strengthening position in the world’s largest MDI market
Management Discussion & Analysis
- Revenue $9,379M, up 12% YoY from $8,358M, driven by higher prices and volumes
- Gross profit $2,025M, up 12%; adjusted EBITDA $1,469M vs $1,259M
- Best segment Polyurethanes: revenue $5,094M, up 16%; weakest growth Advanced Materials: revenue $1,116M, up 7%
- Operating cash flow $963M; capex $313M; share repurchases $276M; dividends increased to $0.1625 per share quarterly
- 2019 outlook: $390M capex, 22% to 24% adjusted tax rate; risks from lower margins, currency headwinds and higher raw-material costs
Risk Factors
- EPA Risk Management Program amendments effective September 21, 2018, requiring hazard analyses, third-party audits and public chemical information
- Brexit uncertainty ahead of March 29, 2019, affecting Europe’s 24% revenue exposure
- Sole-source chemical and feedstock suppliers, with replacements potentially causing significant delays or cost increases
- Venator share volatility, $3.59 to $24.31 during 2018, affecting Huntsman’s 49% investment and earnings
- Debt $2,320 million, including $312 million variable-rate borrowings and $96 million current maturities
Generated from the filing text; verify against the original. How to read a 10-K
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