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Huntsman (HUN) Adds Natural Gas Surcharge on MDI Sales
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Huntsman Corporation (HUN - Free Report) recently announced that it is implementing a natural gas surcharge of Euros 125 (roughly $146) per ton on all sales of MDI in Europe, Africa, the Middle East and India. The surcharge is in response to the unprecedented natural gas price rise in the region. It will be effective Oct 1, 2021 and is in addition to any earlier announced MDI price increases.
Natural gas prices in Europe have spiked to record levels in the recent months on structural changes in European energy sources and generation. The unparalleled cost of natural gas, already more than three times historic levels and continuing to rise, has hurt the energy inputs, intermediates, and multiple feedstock costs incurred in Huntsman's MDI production.
Huntsman is working with its customers to manage the impact of the surcharge, which was required to respond to the unexpected and unprecedented rise in its production costs.
Shares of Huntsman have increased 34.4% in the past year compared with a 23.5% rise of the industry.
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The company, in its last earnings call, stated that it is focused on delivering a strong EBITDA performance and high free cash flow in the second half of 2021. It is striving to maintain a strong balance sheet and a steady capital deployment.
It is also optimistic about its progress in organic capital investments, including the MDI splitter project in Geismar that is expected to commence in early 2022.
Huntsman currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , The Chemours Company (CC - Free Report) and Methanex Corporation (MEOH - Free Report) .
Nucor has a projected earnings growth rate of around 534.4% for the current year. The company’s shares have surged 129.4% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth rate of around 86.4% for the current year. The company’s shares have gained 39.9% in the past year. It currently sports a Zacks Rank #1.
Methanex has an expected earnings growth rate of around 419% for the current fiscal. The company’s shares have surged 92.9% in the past year. It currently flaunts a Zacks Rank #1.
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Huntsman (HUN) Adds Natural Gas Surcharge on MDI Sales
Huntsman Corporation (HUN - Free Report) recently announced that it is implementing a natural gas surcharge of Euros 125 (roughly $146) per ton on all sales of MDI in Europe, Africa, the Middle East and India. The surcharge is in response to the unprecedented natural gas price rise in the region. It will be effective Oct 1, 2021 and is in addition to any earlier announced MDI price increases.
Natural gas prices in Europe have spiked to record levels in the recent months on structural changes in European energy sources and generation. The unparalleled cost of natural gas, already more than three times historic levels and continuing to rise, has hurt the energy inputs, intermediates, and multiple feedstock costs incurred in Huntsman's MDI production.
Huntsman is working with its customers to manage the impact of the surcharge, which was required to respond to the unexpected and unprecedented rise in its production costs.
Shares of Huntsman have increased 34.4% in the past year compared with a 23.5% rise of the industry.
The company, in its last earnings call, stated that it is focused on delivering a strong EBITDA performance and high free cash flow in the second half of 2021. It is striving to maintain a strong balance sheet and a steady capital deployment.
It is also optimistic about its progress in organic capital investments, including the MDI splitter project in Geismar that is expected to commence in early 2022.
Huntsman Corporation Price and Consensus
Huntsman Corporation price-consensus-chart | Huntsman Corporation Quote
Zacks Rank & Key Picks
Huntsman currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Nucor Corporation (NUE - Free Report) , The Chemours Company (CC - Free Report) and Methanex Corporation (MEOH - Free Report) .
Nucor has a projected earnings growth rate of around 534.4% for the current year. The company’s shares have surged 129.4% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth rate of around 86.4% for the current year. The company’s shares have gained 39.9% in the past year. It currently sports a Zacks Rank #1.
Methanex has an expected earnings growth rate of around 419% for the current fiscal. The company’s shares have surged 92.9% in the past year. It currently flaunts a Zacks Rank #1.