Net loss of $96 million in Q4 last year, polyurethane giant Huntsman: the market will not see significant changes in the short term

China Economic Observer, according to The Paper, global polyurethane giant Huntsman recently disclosed its latest earnings. In the fourth quarter of 2025, the company achieved revenue of $1.355 billion, a net loss of $96 million, and an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $35 million. By segment, revenue in the polyurethane division declined year-over-year mainly due to lower average selling prices, while increased sales volume offset some of the adverse effects. The decrease in the average selling price of MDI products was primarily due to unfavorable supply and demand dynamics. Revenue in the advanced materials division declined year-over-year mainly because of reduced sales volume, although higher average prices partially offset the negative impact. The decrease in sales volume was mainly due to weak demand for coating products used in infrastructure and general industrial sectors. Huntsman Chairman, President, and CEO Peter R. Huntsman stated, “Looking back at 2025, despite persistent low profitability, the company achieved nearly $300 million in operating cash flow for the year, with a free cash flow conversion rate of 45%. We still believe that the economic cycle in the chemical industry will eventually turn around, and our core markets will improve accordingly, although we recognize that there will be no significant changes in the short term.”