Huntsman companies report earnings of $116.3 million

The Huntsman companies on Monday reported second-quarter earnings before taxes and deductions of $116.3 million, including $170.9 million in restructuring and other charges.

For the second quarter of 2003, Huntsman reported earnings before interest, taxes, depreciation and amortization of $156.8 million, including charges of $60.7 million.

The combined Huntsman companies include HMP Equity Holdings Corp., and its principal operating subsidiaries, Huntsman LLC, Huntsman International Holdings and Huntsman Advanced Materials. As of June 30, 2004, HMP and its subsidiaries reported combined cash and unused borrowing capacity of about $789 million.

"We are pleased with the improvement in our results, especially considering the continued high and volatile energy and feedstock costs that continue to plague the industry," said Peter R. Huntsman, president and CEO, in a prepared statement. "Overall average selling prices continue to increase as we see improved global demand in our business."