Huntsman Q2 Profit Surges

(RTTNews) - Huntsman Corp. (HUN) Wednesday announced a sharp increase in second quarter net income attributable to the company to $87 million from $29 million in the prior year. On a per share basis, earnings were $0.36, up from $0.12 last year. Adjusted net income was $126 million or $0.53 per share.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.53 per share. Analysts estimates usually exclude special items.

Revenue for the quarter was slightly down at $2.544 billion, compared to $2.740 billion a year ago. Wall Street was looking for revenue of $2.59 billion. The company attributed the improved results to MDI margin growth, better sequential TiO2 prices.