Huntsman Q1 Profit Attributable Surges

(RTTNews) - Huntsman Corp. (HUN) Thursday announced first quarter net income attributable to the company of $56 million compared to $5 million last year. Adjusted net income was $88 million, down from $98 million in the prior year.

On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.27 per share. Analysts estimates usually exclude special items.

Revenue for the quarter declined to $2.355 billion from $2.589 billion last year. Wall Street was looking for $2.38 billion.

Looking ahead, the company expects 2016 and long term adjusted effective tax rate to be approximately 30 percent.