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  "documentTitle": "Huntsman Corporation (HUN)",
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  "presentationDate": "2022-03-02 00:00:00",
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      "text": "Huntsman's EBITDA margins are ~400bps BELOW the average for 2021 and 2022 performance peers!",
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      "text": "2021 Adjusted EBITDA Margin – Huntsman vs. Peers",
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      "text": "Adjusted EBITDA margin: 15%",
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      "text": "We believe a complete and objective benchmarking of Huntsman's Adjusted EBITDA margins clearly demonstrates that Huntsman's profitability trails peers.",
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      "text": "We believe the Company would like shareholders to forget that its profitability relative to peers is incredibly poor.",
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      "text": "Source: Public company filings. (1) For the sake of completeness, represents the average among peers included in either Huntsman's 2021 or 2022 Performance Peers as well as those arbitrarily selected in the Company's SG&A expense ratio benchmarking. (2) See Appendix for definition.",
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      "kind": "title",
      "text": "We Believe the Company Tried to Focus Shareholders on Its SG&A Expense Ratio Because Its Profitability Is Subpar",
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