Huntsman Corporation HUN has introduced its Technology Portal, a platform designed to connect innovators and manufacturers across the value chain. The initiative's cross-divisional goal is to enable and foster external collaborations by connecting ideas and knowledge from many industries with Huntsman in order to unlock possible business prospects.
The Technology Portal will make it easier for external parties to propose and request new solutions, technologies and capabilities, which could be jointly developed to create value for them and the company.
Huntsman Technology Portal, reflecting the company's commitment to deep collaborations, provides two distinct cooperation routes. These are Innovation-driven Solutions — a streamlined interface for innovators and entrepreneurs to share innovation challenges, problems to solve and collaboration opportunities with Huntsman; and Manufacturing Solutions — a contact point for chemical producers to explore customized scale-up, industrialization, custom manufacturing and other manufacturing solutions for their specific needs.
Shares of Huntsman have gained 0.5% over the past year compared with a 10.2% rise of its industry.
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Huntsman, on its second-quarter call, said that it expects stable demand in the Polyurethanes division in the third quarter but competitive pricing pressure is expected to more than offset raw material or energy benefits. Adjusted EBITDA for Polyurethanes is projected to be between $75 million and $90 million.
For the Performance Products division, HUN anticipates some seasonality in Europe and Asia and continued competitive pressure, leading to a sequentially lower third-quarter adjusted EBITDA in the range of $40 million to $50 million.
For Advanced Materials, stable demand is expected, with some modest volume decline due to typical seasonality. The division is projected to deliver similar results in the third quarter as in the second quarter, with adjusted EBITDA projected to be between $48 million and $53 million.
Huntsman expects to spend $230-$250 million on capital expenditures in 2023.
Zacks Rank & Key Picks
Huntsman currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, The Andersons Inc. ANDE and Hawkins Inc. HWKN.
Carpenter Technology currently carries a Zacks Rank #1 (Strong Buy). The stock has rallied roughly 111.8% in the past year. CRS beat the Zacks Consensus Estimate in three of the last four quarters while meeting in one. It delivered a trailing four-quarter earnings surprise of 9.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Andersons currently carries a Zacks Rank #1. ANDE has gained roughly 68.8% in the past year. ANDE beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 64.4%, on average.
Hawkins currently carries a Zacks Rank #1. The stock has rallied roughly 57.6% in the past year. HWKN beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 25.6%, on average.
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