Chemicals maker Huntsman Corp. on Friday reported a record in quarterly earnings that beat Wall Street expectations and sent the company's stock higher.
The company earned $116 million, or 48 cents per share, in its third quarter ending Sept. 30. Excluding restructuring and other expenses, Huntsman earned 70 cents per share, exceeding the 51 cents-per-share profit that analysts surveyed by Thompson Reuters had expected.
The quarter marked a turnaround from last year, when Huntsman lost $34 million, or 14 cents per share. In a statement, CEO Peter Huntsman said the company "continue(s) to benefit from our ongoing restructuring and cost-cutting that was started last year and will continue to deliver a better cost structure into 2013."