Recently, Huntsman company released the 2018 third quarter Financial report, its 2018 years ago three quarter key financial data are as follows:
Operating income of $7.143 billion, compared with $6.155 billion in the same period last year;
Net income of $965 million, compared with $454 million in the same period last year;
Adjusted net income was $685 million, compared with $418 million in the same period last year;
The adjusted EBITA was $1.194 billion, compared with $899 million in the same period last year.
Its key financial data for the third quarter are as follows:
Operating income of $2.444 billion
The adjusted EBITDA was $374 million, compared with $340 million in the same period last year;
Net income was-$ 8 million, compared with $179 million in the same period last year;
The adjusted net income was $202 million, compared with the adjusted net income of $164 million in the same period last year and $246 million in the previous quarter. Peter R. Huntsman, chairman and chief executive officer of the Company, commented: ' For the company, the overall performance of the quarter was very stable, which shows that the company's downstream industry and diversified business are well matched. The short-term basic expected adjustment of MDI components helps us to play a unique downstream polyurethane supporting production and strategic advantages.
' He noted that despite the uncertainties in the global trade market and the weak demand in the Chinese market, the market situation remained stable in the long run, and ' we are confident and on track to meet the 2020 target set by investor day on May 23, 2018.
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2018 comparative analysis of business in the third quarter and the same period last year
Polyurethane Due to the increase in average sales prices and sales, the company's polyurethane business revenue increased over the same period last year for the three months ended September 30, 2018. Due to strong demand in the terminal market, the average sales price of diversified MDI rose, partly offset by the price of MDI components that fell during the same period last year.
The average sales price of MTBE increased, mainly due to higher octane gasoline prices. With increased demand in most major markets, MDI sales have increased accordingly. As a result of the hurricane affected by the same period last year, resulting in the disruption of related production, production decreased, this year relatively recorded higher MTBE sales.
The modest increase in business after the adjustment of EBITDA was due mainly to an increase in the total number of MDI, as well as an increase in MTBE earnings as a result of increased production due to the Hurricanes affected by the hurricane in the same period last year, which was partly offset by lower MDI component profits.
Performance Products For the three months ended September 30, 2018, the company's performance product business revenue increased from the same period last year due to higher average selling prices and sales growth. The average sales price increase is mainly due to the company's many derivative business market positive factors as well as raw material cost rise. The increase in sales was mainly due to a decrease in production as a result of the hurricane affected by hurricanes in the same period last year.
The increase in business after the EBITDA was mainly due to higher average sales prices in the third quarter, increased sales and a decrease in production as a result of the hurricane, which was affected by hurricanes in the same period last year.
Advanced Materials For the three months ended September 30, 2018, the company's revenue from its advanced materials business increased from the same period last year as a result of increased sales and higher average sales prices. Sales in most markets for the company's core industry business and product business have increased. As the cost of raw materials rose, average sales prices rose, partly offset by the impact of a stronger dollar on major international currencies.
Adjusted EBITDA, the level of business was flat, mainly because the growth in professional sales was offset by higher raw materials and fixed costs. Huntsman announces financial data for the third quarter of 2018