Huntsman 4Q results top Wall Street expectations

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THE WOODLANDS, Texas (AP) — Huntsman returned to a profit in its fourth quarter, as the prior-year period included a bigger loss on early debt extinguishment.

Its adjusted earnings and revenue topped Wall Street's view.

The chemical company's stock rose more than 6 percent in Tuesday premarket trading.

For the three months ended Dec. 31, Huntsman earned $41 million, or 17 cents per share. That compares with a loss of $40 million, or 17 cents per shares, a year earlier.

The year-ago period included a $78 million loss on early debt extinguishment, while the current quarter's was $16 million.

Excluding certain items, earnings were 48 cents per share.

Analysts polled by FactSet expected earnings of 37 cents per share.

Revenue increased 3 percent to $2.71 billion from $2.62 billion. Wall Street predicted $2.69 billion in revenue.

Revenue climbed for the polyurethanes, pigments and performance products units, thanks in part to higher sales volumes. Revenue for the textile effects division also rose on increased sales volumes and higher average selling prices.

Advanced materials revenue fell mostly because of lower sales volumes.

Full-year net income declined 65 percent to $128 million, or 53 cents per share, from $363 million, or $1.51 per share, in the previous year. Annual revenue dipped 1 percent to $11.08 billion from $11.19 billion.

Shares of Huntsman Corp. gained $1.22, or 5.5 percent, to $23.35 in premarket trading 2 ½ hours before the market open.

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