Huntsman (HUN) Tops Q1 EPS by 7c, Revenues Beat
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Revenue Growth %: -8.1%
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Related party sales: 29M
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Huntsman (NYSE: HUN) reported Q1 EPS of $0.66, $0.07 better than the analyst estimate of $0.59. Revenue for the quarter came in at $1.84 billion versus the consensus estimate of $1.75 billion.
Peter R. Huntsman, Chairman, President and CEO, commented:
"First quarter 2021 results in each of our business segments exceeded our expectations as the economic recovery accelerated through the quarter. Specifically, the strength of our businesses during March more than offset the headwinds experienced from Winter Storm Uri in February. Furthermore, the seasonal expected use of cash in the first quarter was less than anticipated due to the better than expected operating results and lower net working capital levels. Our balance sheet leverage and liquidity remain strong and gives us ample flexibility to continue to develop and expand our core businesses through both internal investments and acquisitions in line with our strategy. Because of our strong balance sheet and confidence in the consistent generation of solid free cash flow, I am pleased we can increase our quarterly dividend by 15%. The year has started off well and if current trends hold, we expect 2021 to be a very good year for the Company."
For earnings history and earnings-related data on Huntsman (HUN) click here.
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