20 Companies! Chemical Giants’ 2024 Performance Summary!

Celanese: In 2024, the company reported a consolidated operating loss of USD 697 million; adjusted EBIT was USD 1.6 billion, down 6% year-on-year; and operating EBITDA stood at USD 2.4 billion. Corresponding margins were (7%), 16%, and 23%, respectively. Additionally, Celanese announced its intention to cease production and shut down its Mylar specialty film manufacturing operation in Luxembourg—a 50/50 joint venture with Teijin. This move aligns with the company’s core principle of exiting high-cost facilities. Lanxess: On January 20, Lanxess released its earnings preview, forecasting Q4 2024 EBITDA at approximately EUR 159 million—22% above the current market consensus of EUR 130 million (VARA consensus). Consequently, full-year 2024 EBITDA before non-recurring items is expected to reach approximately EUR 614 million, up roughly 20% year-on-year and hitting the upper end of the previously guided growth range of 10–20%. The strong Q4 performance was primarily driven by better-than-expected sales in December, especially due to customer pre-purchasing. This early-sales effect occurred mainly in the U.S., particularly for products from the Specialty Additives and Consumer Protection divisions. Huntsman: On February 17, Huntsman Corporation announced its 2024 financial results: full-year revenue totaled approximately USD 6.0 billion, with a net loss of USD 189 million. Specifically, Q4 2024 revenue amounted to USD 1.452 billion, with a net loss attributable to Huntsman of USD 141 million and an adjusted net loss attributable to Huntsman of USD 43 million; adjusted EBITDA was USD 71 million. Huntsman’s performance for the first three quarters of 2024 was as follows: Q3 revenue was USD 1.54 billion, with a net loss of USD 33 million; Q2 revenue was USD 1.574 billion, with net income of USD 22 million; and Q1 revenue was USD 1.47 billion, with a net loss of USD 37 million. Syensqo: On February 27, Syensqo released its 2024 financial results: net sales totaled EUR 6.6 billion, reflecting an organic decline of 3% year-on-year—primarily driven by price reductions (−4%). EBITDA stood at EUR 1.4 billion, in line with expectations. In Q4 2024, net sales reached EUR 1.6 billion, representing an organic increase of 2% year-on-year—mainly fueled by volume growth (+3%). EBITDA amounted to EUR 298 million, up 5% organically year-on-year, with contributions from both the Materials and Consumer & Resources businesses. Furthermore, in 2025, Syensqo will continue evaluating options to accelerate value creation—including asset divestitures—to become a more focused specialty chemicals company. Building on the already decided exit from the oil & gas business, the company plans to pursue a similar divestiture strategy for its flavors and functional chemicals business. Meanwhile, the Board has approved exploring the possibility of a dual listing in the U.S., in addition to its existing listing in Brussels. SABIC: On February 26, Saudi Basic Industries Corporation (SABIC) announced its 2024 fiscal-year results: net profit amounted to SAR 1.5 billion (approximately RMB 2.905 billion), compared to a net loss of SAR 2.8 billion in 2023—marking a significant turnaround to profitability.

Do you think international investment banks like JPMorgan still have any ethical bottom line given their recent actions?

Major international investment banks—including JPMorgan—have drastically downgraded their stock ratings and target prices for over twenty Chinese internet companies listed overseas, declaring these firms ‘uninvestable in the near term.’ Not a single major internet company was spared. Alibaba’s target price was slashed from USD 180 to USD 65—a 64% reduction. Tencent’s target price was cut by 54%, from HKD 570 to HKD 265. Bilibili’s target price plunged from USD 80 to USD 15—a staggering 81% drop. Meituan’s target price was slashed from HKD 295 to HKD 90—nearly a 70% decline. Pinduoduo’s target price collapsed from USD 150 to USD 23—close to an 80% reduction. Overnight, the companies remain unchanged; the markets remain unchanged—yet target prices can be slashed by up to 81%. Where is the integrity of research? Even Sichuan opera face-changing cannot match the speed of these revisions. This is clearly deliberate suppression—kicking someone when they’re down. Can such rating reports still claim credibility or public trust?

J.P. Morgan Cuts Eastman Chemical to Neutral, Lowers Target to $66

16 hours ago

J.P. Morgan downgraded Eastman Chemical to Neutral and lowered its price target to $66, citing unfavorable commodity spreads with rising propane and falling propylene prices. Consequently, Eastman shares declined 2.6% following the announcement.

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