Huntsman's stock price surged 5.64% in pre-market trading on Friday, driven by the company's better-than-expected first-quarter financial results and optimistic forward guidance.
The chemical manufacturer reported Q1 revenue of $1.42 billion, surpassing analyst estimates of $1.39 billion. Adjusted EBITDA of $73 million also came in significantly above the consensus expectation of $59 million. While the company reported a net loss, management pointed to successful price increases implemented to counter cost volatility.
Investor sentiment was further bolstered by the company's positive outlook for the second quarter, anticipating improved profitability from volume growth and margin expansion. The simultaneous announcement of a $0.0875 per share cash dividend provided additional support for the bullish move.