UPDATE: Huntsman Q3 Profit Drops 45%
Huntsman (NYSE: HUN) reported a 45% drop in its third-quarter earnings.
Huntsman's quarterly profit fell to $64 million, or $0.26 per share, from $116 million, or $0.48 per share, in the year-ago period. Excluding one-time items, it earned $0.54 per share.
Its revenue rose 3.7% to $2.84 billion. However, analysts were expecting a profit of $0.54 per share on revenue of $2.82 billion.
Huntsman's gross margin shrank to 17.8% from 19.6%.
Huntsman shares closed at $21.71 yesterday.
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