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Huntsman (HUN) to Boost Capacity of Ultrapure Ethylene Carbonate
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Huntsman Corporation (HUN - Free Report) has announced that plans are ongoing for the Performance Products division at its Conroe, TX facility to markedly increase the existing capacity for Ultrapure Ethylene Carbonate. The company plans to complete the expansion by mid-2023. Ultrapure Ethylene Carbonate is essential for the effective functioning and durability of lithium-ion batteries for electric vehicles (EVs) and electronics.
In recent times, the company has seen robust growth in Ultrapure products, riding on the back of the evolution of EVs and the localization of lithium-ion battery production. To cater to this demand growth, Huntsman has added a range of new high-purity grades of Ethylene Carbonate for EV battery applications.
Huntsman noted that this expansion will support the quick growth of the U.S. and European lithium-ion battery markets for EVs and bolster its position as the sole U.S. producer of cyclic carbonates. The company remains committed to steer its growth in this sustainable industry and help reduce emissions in the transportation sector.
Shares of Huntsman have grown 51.7% in a year compared with the industry’s rise of 63%. The company’s estimated earnings growth rate for the current year is pegged at 176.5%.
Image Source: Zacks Investment Research
In the first quarter, the company recorded adjusted earnings of 66 cents per share, topping the Zacks Consensus Estimate of 59 cents. The top line of $1,837 million recorded 15% growth year over year, surpassing the Zacks Consensus Estimate of $1,745.3 million.
Huntsman said that its strong liquidity and balance sheet leverage give it adequate flexibility to continue developing and expanding its core businesses through acquisitions and internal investments. The company also remains on track to deliver more than $120 million of annualized savings and acquisition integration synergies by mid-2023.
Orion has a projected earnings growth rate of 61.5% for the current year. The company’s shares have grown 91.7% in a year.
Tronox has a projected earnings growth rate of 242.9% for the current year. The company’s shares have jumped a whopping 239.6% in a year.
Univar has a projected earnings growth rate of 35.2% for the current year. The company’s shares have jumped 73.3% in a year.
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Image: Bigstock
Huntsman (HUN) to Boost Capacity of Ultrapure Ethylene Carbonate
Huntsman Corporation (HUN - Free Report) has announced that plans are ongoing for the Performance Products division at its Conroe, TX facility to markedly increase the existing capacity for Ultrapure Ethylene Carbonate. The company plans to complete the expansion by mid-2023. Ultrapure Ethylene Carbonate is essential for the effective functioning and durability of lithium-ion batteries for electric vehicles (EVs) and electronics.
In recent times, the company has seen robust growth in Ultrapure products, riding on the back of the evolution of EVs and the localization of lithium-ion battery production. To cater to this demand growth, Huntsman has added a range of new high-purity grades of Ethylene Carbonate for EV battery applications.
Huntsman noted that this expansion will support the quick growth of the U.S. and European lithium-ion battery markets for EVs and bolster its position as the sole U.S. producer of cyclic carbonates. The company remains committed to steer its growth in this sustainable industry and help reduce emissions in the transportation sector.
Shares of Huntsman have grown 51.7% in a year compared with the industry’s rise of 63%. The company’s estimated earnings growth rate for the current year is pegged at 176.5%.
In the first quarter, the company recorded adjusted earnings of 66 cents per share, topping the Zacks Consensus Estimate of 59 cents. The top line of $1,837 million recorded 15% growth year over year, surpassing the Zacks Consensus Estimate of $1,745.3 million.
Huntsman said that its strong liquidity and balance sheet leverage give it adequate flexibility to continue developing and expanding its core businesses through acquisitions and internal investments. The company also remains on track to deliver more than $120 million of annualized savings and acquisition integration synergies by mid-2023.
Huntsman Corporation Price and Consensus
Huntsman Corporation price-consensus-chart | Huntsman Corporation Quote
Zacks Rank & Key Picks
Currently, Huntsman carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Orion Engineered Carbons S.A (OEC - Free Report) , Tronox Holdings PLC (TROX - Free Report) and Univar Solutions Inc. , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Orion has a projected earnings growth rate of 61.5% for the current year. The company’s shares have grown 91.7% in a year.
Tronox has a projected earnings growth rate of 242.9% for the current year. The company’s shares have jumped a whopping 239.6% in a year.
Univar has a projected earnings growth rate of 35.2% for the current year. The company’s shares have jumped 73.3% in a year.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>