Meet the 4 Goldman Sachs game changers who made Forbes 30 Under 30 list this year

Meet the 4 Goldman Sachs game changers who made Forbes 30 Under 30 list this year

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THE WOODLANDS, Texas (AP) — Chemicals maker Huntsman Corp. said Wednesday its second-quarter net income rose 8.8 percent, boosted by strong contributions from its polyurethanes business. Huntsman earned $124 million, or 52 cents per share, in the three months ended June 30. That was up from $114 million, or 47 cents per share, in the same quarter last year. Excluding restructuring charges and other one-time costs, the company posted an adjusted profit of 58 cents per share for the recent quarter. Revenue edged down slightly to $2.91 billion from $2.93 billion. The revenue decline was more than offset by lower raw material costs and reduced interest expense. The adjusted profit beat Wall Street predictions, while the revenue fell slightly short. Analysts, on average, expected a profit of 54 cents per share, on $3.01 billion in revenue, according to FactSet. Polyurethane revenue rose 12 percent to $1.27 billion, on higher sales volumes that were partially offset by a drop in average selling prices. At the same time, sales at the companys performance products division, which makes specialty chemicals for a variety of markets, fell 14 percent to $770 million on drops in both sales volumes and average selling prices. Sales also edged down in its three other business units: advanced materials, which makes products for the aerospace, energy and automotive industries, among others; textile effects, which makes fabric treatments and dyes, and pigments, which makes inks and paints. Shares of The Woodlands, Texas-based Huntsman rose 32 cents, or 2.58 percent, to $12.9 in premarket trading. The stock closed the regular session Tuesday at $12.65, up 27 percent since the start of the year. View comments
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