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Huntsman (HUN) Reaffirms Overall General Guidance for Q2
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Huntsman Corporation (HUN - Free Report) has reaffirmed its overall general guidance for the second quarter of 2020.
The company expects overall sales for the second quarter to be down 30-35% year over year. However, Huntsman saw sales improvement from April to May and it anticipates the trend to continue through June.
In the Polyurethanes segment, the company anticipates results to be slightly better than projected on better-than-expected trends in the United States and China construction.
In the Textiles Effects segment, the company expects results to be weaker than forecast primarily due to the prolonged impact of mandatory shutdowns in major textile-manufacturing regions. Moreover, the anticipated industrial rebound may not start before the third quarter due to sustained lockdowns. Moreover, the company noted that it expects adjusted EBITDA in its Textiles Effects unit to be slightly negative for the second quarter.
For the Performance Products segment, Huntsman reiterated its prior guidance.
For the Advanced Materials segment, the company anticipates results to be a little short of expectations due to a deeper trough in Aerospace, Europe and India than expected at the time of its last quarterly earnings call.
Huntsman is scheduled to report second-quarter results on Jul 28.
The company's shares have lost 6% in the past year compared with the industry’s 15% decline.
On the first-quarter earnings call, Huntsman stated that it remains focused on protecting its balance sheet amid the global economic crisis. The company has reduced unnecessary inventories and is also trimming capital spending this year by 30% or around $90 million by delaying discretionary spending. Huntsman also resorted to cost reductions and suspension of share repurchases. It will also accelerate plans to realize synergies with its recent and pending acquisitions.
The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the basic materials space are AngloGold Ashanti Limited (AU - Free Report) , Barrick Gold Corporation (GOLD - Free Report) and Harmony Gold Mining Company Limited (HMY - Free Report) .
Barrick has a projected earnings growth rate of 54.9% for the current year. The company’s shares have rallied around 60% in a year. It currently has a Zacks Rank #2.
Harmony Gold has an expected earnings growth rate of 28.6% for 2020. The company’s shares have gained 63.9% in the past year. It presently carries a Zacks Rank #2.
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Huntsman (HUN) Reaffirms Overall General Guidance for Q2
Huntsman Corporation (HUN - Free Report) has reaffirmed its overall general guidance for the second quarter of 2020.
The company expects overall sales for the second quarter to be down 30-35% year over year. However, Huntsman saw sales improvement from April to May and it anticipates the trend to continue through June.
In the Polyurethanes segment, the company anticipates results to be slightly better than projected on better-than-expected trends in the United States and China construction.
In the Textiles Effects segment, the company expects results to be weaker than forecast primarily due to the prolonged impact of mandatory shutdowns in major textile-manufacturing regions. Moreover, the anticipated industrial rebound may not start before the third quarter due to sustained lockdowns. Moreover, the company noted that it expects adjusted EBITDA in its Textiles Effects unit to be slightly negative for the second quarter.
For the Performance Products segment, Huntsman reiterated its prior guidance.
For the Advanced Materials segment, the company anticipates results to be a little short of expectations due to a deeper trough in Aerospace, Europe and India than expected at the time of its last quarterly earnings call.
Huntsman is scheduled to report second-quarter results on Jul 28.
The company's shares have lost 6% in the past year compared with the industry’s 15% decline.
On the first-quarter earnings call, Huntsman stated that it remains focused on protecting its balance sheet amid the global economic crisis. The company has reduced unnecessary inventories and is also trimming capital spending this year by 30% or around $90 million by delaying discretionary spending. Huntsman also resorted to cost reductions and suspension of share repurchases. It will also accelerate plans to realize synergies with its recent and pending acquisitions.
Huntsman Corporation Price and Consensus
Huntsman Corporation price-consensus-chart | Huntsman Corporation Quote
Zacks Rank & Stocks to Consider
The company currently carries a Zacks Rank #3 (Hold).
Some better-ranked companies in the basic materials space are AngloGold Ashanti Limited (AU - Free Report) , Barrick Gold Corporation (GOLD - Free Report) and Harmony Gold Mining Company Limited (HMY - Free Report) .
AngloGold has a projected earnings growth rate of 109.9% for the current year. The company’s shares have surged around 68% in a year. It currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Barrick has a projected earnings growth rate of 54.9% for the current year. The company’s shares have rallied around 60% in a year. It currently has a Zacks Rank #2.
Harmony Gold has an expected earnings growth rate of 28.6% for 2020. The company’s shares have gained 63.9% in the past year. It presently carries a Zacks Rank #2.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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