Huntsman Reports Higher Q2 Revenue on MDI Pricing, Plans Olin Merger

Huntsman Corporation reported second quarter 2026 revenues of $1,663 million, up from $1,458 million a year earlier, and adjusted EBITDA of $120 million versus $74 million. Polyurethanes revenue rose 16% on higher MDI average selling prices across all three regions, while Advanced Materials grew 19% and Performance Products rose 5%. Free cash flow was a use of $90 million, and capital expenditures for 2026 are expected to be about $170 million. The company also signed an all-stock merger of equals with Olin Corporation, with a stockholder vote scheduled for August 25, 2026.

Key facts

Market context

Methylene diphenyl diisocyanate (MDI) is a key aromatic isocyanate used mainly to make rigid and flexible polyurethane foams, as well as coatings, adhesives, sealants and elastomers. Its demand is closely tied to construction, where rigid foam serves as insulation, and to appliances, furniture, bedding and automotive interiors. Because MDI is produced in a relatively small number of large integrated plants, price moves often follow changes in utilization, feedstock costs and regional balances rather than small swings in end-use demand. When average selling prices rise across regions, downstream foam formulators and building-products makers typically face higher input costs and tighter margins, while producers with integrated feedstock positions can capture more of the spread. Performance amines, another chemical family in the wider portfolio, serve as curing agents and intermediates in epoxies, coatings and fuel additives. Energy and crude-linked raw material costs also influence producer economics, particularly in Europe, where power and gas prices can shift cost curves for isocyanate and amine production.

Source: official release on huntsman.com. Summary and context written by Market Krystal.