HUN Latest Report
1min read Performance Review
Huntsman's total operating revenue in 2024 was $1.452 billion, up from $1.403 billion in 2023, a YoY growth of approximately 3.54%. Despite the growth in total operating revenue, the company faced significant profitability decline, with net profit falling from a loss of $59 million in 2023 to a loss of $125 million in 2024, indicating challenges in operating efficiency and profitability.
Key Financial Data
1. Huntsman's total operating revenue grew by $49 million in 2024, a YoY growth of 3.54%.
2. The increase in sales costs (2024: $1.264 billion, 2023: $1.251 billion) may have led to a decline in gross profit, despite the increase in revenue.
3. Research and development expenses increased to $30 million in 2024 from $28 million in 2023, possibly affecting short-term profitability.
4. Marketing, sales, and general and administrative expenses were $166 million, slightly down but still occupying a large proportion, affecting overall profitability.
5. Non-current operating income of $15 million in 2024 affected the calculation of net profit.
Peer Comparison
1. Industry-wide analysis: The chemical industry, where Huntsman operates, showed a certain recovery trend in 2024, although global economic fluctuations still exist, but the overall increased demand drove revenue growth. The intensified competition and rising raw material costs put pressure on the company's profitability.
2. Peer evaluation analysis: Huntsman's stable growth in total operating revenue but significant decline in net profit may put it at a disadvantage among peers. Competitors such as BASF and Dow performed better in cost control and market expansion, improving their profitability.
Summary
Huntsman's revenue in 2024 grew but profitability significantly declined, indicating problems in the company's operating efficiency. Although specific market demand improved, overall cost increases, increased R&D expenses, and special expenses weakened the company's profitability.
Opportunities
1. Gaining market share in the Americas and Europe may support future growth.
2. The polyurethane business segment has growth potential in the Chinese market, especially in the construction and textile industries.
3. The sales growth of the Functional Products and Advanced Materials segments indicates that there is still demand for its products, and future performance can be further improved through optimizing the product portfolio.
Risks
1. Economic risks such as global economic fluctuations, inflation, interest rate hikes, and supply chain disruptions may lead to a decrease in demand.
2. Changes in environmental regulations may increase compliance costs and affect the company's operations.
3. Poor market performance by competitors such as BASF and Dow may exacerbate market competition and affect the company's market position.
