Huntsman reported a net loss for Q4 2025, with revenues declining year-over-year across all segments due to lower average selling prices and, in some cases, reduced sales volumes. While the company generated positive operating cash flow, free cash flow significantly decreased compared to the prior year, reflecting a challenging market environment and depressed earnings.
Net loss attributable to Huntsman improved to $96 million from $141 million in the prior year period.
positiveDiluted loss per share improved to $0.56 from $0.82 in the prior year period.
positiveGenerated $77 million in net cash provided by operating activities from continuing operations.
positiveFull year free cash flow conversion of 45% reflects timely decisions in a challenging market.
positiveTotal revenues decreased 7% year-over-year in Q4 2025 to $1,355 million from $1,452 million.
negativeFull year revenues decreased 6% year-over-year to $5,683 million from $6,036 million.
negativeAdjusted EBITDA decreased 50% year-over-year in Q4 2025 to $35 million from $71 million.
negativeFull year Adjusted EBITDA decreased 34% year-over-year to $275 million from $414 million.
negativeFree cash flow from continuing operations decreased significantly to $20 million in Q4 2025 from $108 million in the prior year period.
negativeFull year free cash flow from continuing operations was $125 million, a modest increase from $101 million in the prior year, but significantly lower than the $298 million in operating cash flow.
attentionPolyurethanes segment revenues decreased 8% YoY due to lower average selling prices, with segment adjusted EBITDA down 50% YoY due to lower MDI margins.
negativePerformance Products segment revenues decreased 6% YoY due to lower average selling prices, with segment adjusted EBITDA down 30% YoY.
negativeAdvanced Materials segment revenues decreased 4% YoY due to lower sales volumes, with segment adjusted EBITDA slightly lower.
negativeInventories decreased to $818 million from $917 million in the prior year, but still represent a significant portion of current assets.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Polyurethanes | N/A | — | — | — |
Performance Products | N/A | — | — | — |
Advanced Materials | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Generated close to $300 million of cash flow from operations in 2025.
45% full year free cash flow conversion reflects timely, definitive decisions as we recognized the challenging market landscape early in the year.
We remain confident that the economic cycle for chemicals will eventually improve in our core markets, though we recognize that meaningful changes may not occur in the immediate term.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.