UPDATE: Huntsman Q2 Net Profit Falls 62%

Huntsman

reported a 62% drop in its second-quarter profit. Huntsman's quarterly profit fell to $47 million, or $0.19 per share, from $124 million, or $0.52 per share, in the year-ago period. Excluding one-time items, its adjusted earnings declined to $0.39 per share from $0.61 per share. Its revenue fell 2.9% to $2.83 billion. However, analysts were expecting a profit of $0.39 per share on revenue of $2.82 billion. Its gross margin shrank to 15.9% from 18.1%. Huntsman shares closed at $18.13 yesterday.