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Huntsman (HUN) Rebrands Spray Polyurethane Foam Business
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Huntsman Corporation (HUN - Free Report) has branded its leading spray polyurethane foam (SPF) Business as Huntsman Building Solutions (‘HBS’). It is a global platform under the company’s Polyurethanes unit.
In February, Huntsman formed the SPF Business by acquiring the leading North American SPF company, Icynene-Lapolla, and combining it with Demilec. Notably, Huntsman acquired Demilec in 2018.
The company expects HBS to consume considerable volumes of its lower margin polymeric MDI – another key ingredient in SPF formulations – to produce high margin specialized SPF systems.
Huntsman's shares have lost 14% in the past year compared with the industry’s 25.1% decline.
The company recorded adjusted earnings per share of 29 cents in the first quarter, down from 36 cents in the year-ago quarter. Nevertheless, the figure surpassed the Zacks Consensus Estimate of 19 cents.
Revenues fell nearly 5% year over year to $1,593 million. However, the top line surpassed the Zacks Consensus Estimate of $1,536.3 million.
In first-quarter 2020 earnings call, Huntsman stated that it remains focused on protecting its balance sheet amid the global economic crisis. The company reduced unnecessary inventories and is also trimming capital spending this year by 30% or around $90 million by delaying discretionary spending.
Huntsman has also resorted to reductions and suspension of share repurchases. It will accelerate plans to realize synergies with its recent and pending strategic acquisitions.
Zacks Rank & Key Picks
Huntsman currently carries a Zacks Rank #3 (Hold).
Agnico Eagle has an expected earnings growth rate of 75.3% for 2020. The company’s shares have surged 66.2% in the past year.
Scotts Miracle-Gro has an expected earnings growth rate of 17.7% for fiscal 2020. Its shares have returned 58.5% in the past year.
Barrick has an expected earnings growth rate of 64.7% for 2020. The company’s shares have surged 131.9% in the past year.
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Huntsman (HUN) Rebrands Spray Polyurethane Foam Business
Huntsman Corporation (HUN - Free Report) has branded its leading spray polyurethane foam (SPF) Business as Huntsman Building Solutions (‘HBS’). It is a global platform under the company’s Polyurethanes unit.
In February, Huntsman formed the SPF Business by acquiring the leading North American SPF company, Icynene-Lapolla, and combining it with Demilec. Notably, Huntsman acquired Demilec in 2018.
The company expects HBS to consume considerable volumes of its lower margin polymeric MDI – another key ingredient in SPF formulations – to produce high margin specialized SPF systems.
Huntsman's shares have lost 14% in the past year compared with the industry’s 25.1% decline.
The company recorded adjusted earnings per share of 29 cents in the first quarter, down from 36 cents in the year-ago quarter. Nevertheless, the figure surpassed the Zacks Consensus Estimate of 19 cents.
Revenues fell nearly 5% year over year to $1,593 million. However, the top line surpassed the Zacks Consensus Estimate of $1,536.3 million.
In first-quarter 2020 earnings call, Huntsman stated that it remains focused on protecting its balance sheet amid the global economic crisis. The company reduced unnecessary inventories and is also trimming capital spending this year by 30% or around $90 million by delaying discretionary spending.
Huntsman has also resorted to reductions and suspension of share repurchases. It will accelerate plans to realize synergies with its recent and pending strategic acquisitions.
Zacks Rank & Key Picks
Huntsman currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Agnico Eagle Mines Limited (AEM - Free Report) , The Scotts Miracle-Gro Company (SMG - Free Report) and Barrick Gold Corporation (GOLD - Free Report) , all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Agnico Eagle has an expected earnings growth rate of 75.3% for 2020. The company’s shares have surged 66.2% in the past year.
Scotts Miracle-Gro has an expected earnings growth rate of 17.7% for fiscal 2020. Its shares have returned 58.5% in the past year.
Barrick has an expected earnings growth rate of 64.7% for 2020. The company’s shares have surged 131.9% in the past year.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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