Huntsman Corp (NYSE:HUN) Q1 2022 Earnings Conference Call April 28, 2022 10:00 AM ET
Company Participants
Ivan Marcuse - VP, IR
Peter Huntsman - Chairman, President & CEO
Philip Lister - EVP & CFO
Conference Call Participants
Prashant Juvekar - Citigroup
Aleksey Yefremov - KeyBanc Capital Markets
Michael Harrison - Seaport Research Partners
David Begleiter - Deutsche Bank
Daniel Rizzo - Jefferies
Kevin McCarthy - Vertical Research Partners
Hassan Ahmed - Alembic Global Advisors
Matthew DeYoe - Bank of America Merrill Lynch
Angel Castillo - Morgan Stanley
Matthew Blair - Tudor, Pickering, Holt & Co.
Joshua Spector - UBS
Frank Mitsch - Fermium Research
Michael Sison - Wells Fargo Securities
Operator
Greetings, and welcome to the Huntsman Corporation First Quarter 2022 Earnings Call. [Operator Instructions].
As a reminder, this conference is being recorded. I would now like to turn the call over to Ivan Marcuse, Vice President of Investor Relations. Thank you. You may begin.
Ivan Marcuse
Thank you, Darryl, and good morning, everyone. Welcome to Huntsman's First Quarter '22 Earnings Call. Joining us on the call today are Peter Huntsman, Chairman, CEO and President; and Phil Lister, Executive Vice President and CFO.
This morning, before the market opened, we released our earnings for the first quarter '22 via press release and posted to our website, huntsman.com. We also posted a set of slides on the site which we will use on the call this morning while presenting our results.
During the call, we may make statements about our projections or expectations for the future. All such statements are forward-looking statements. And while they reflect our current expectations, they involve risks and uncertainties that are not guarantees of future performance. You should review our filings with the SEC for more information regarding the factors that could cause actual results to differ materially from these projections or expectations. We do not plan on publicly updating or revising any forward-looking statements during the quarter. We will also refer to non-GAAP financial measures, such as adjusted EBITDA, adjusted net income and free cash flow. You can find reconciliations to the most directly comparable GAAP financial measures in our earnings release, which is posted on our website, huntsman.com.
I'll now turn the call over to Peter Huntsman, our Chairman, CEO and President.
Peter Huntsman
Ivan, thank you very much. Good morning, everyone, and thank you for joining us. Let's turn to Slide #5. Adjusted EBITDA for our Polyurethanes division in the first quarter was $224 million compared to $207 million over a year ago, an 8% increase. Revenues grew 30%, primarily due to the price increases that we implemented to offset significant inflationary feedstocks and logistics costs. Our volumes improved 4% year-on-year.