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Union Carbide (UK)

Union Carbide Corporation is a chemicals and polymers company that has been a wholly owned subsidiary of The Dow Chemical Company ("TDCC") since 2001. Except as otherwise indicated by the context, the terms "Corporation" or "UCC" as used herein mean Union Carbide Corporation and its consolidated subsidiaries.

Calendar

22 Jul 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 10M 10M 10M 10M 10M 10M
Cash burn (monthly) (no burn) 83.33K (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) n/a 137.35K n/a n/a n/a n/a
Cash remaining n/a 9.86M n/a n/a n/a n/a
Runway (months of cash) n/a 118.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial report summary

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Risks
  • CLIMATE CHANGE - RELATED RISKS
  • Climate Change: Climate change-related risks and uncertainties, legal or regulatory responses to climate change and a failure of TDCC's parent company, Dow Inc., to meet its climate change commitments could negatively impact the Corporation’s results of operations and/or financial condition.
  • COVID-19 PANDEMIC - RELATED RISKS
  • Public Health Crisis: A public health crisis or global outbreak of disease, including the pandemic caused by COVID-19 has had, and could continue to have, a negative effect on the Corporation's manufacturing operations, supply chain and workforce, creating disruptions that could continue to have a substantial negative impact on the Corporation’s results of operations, financial condition and cash flows.
  • Global Economic Considerations: The Corporation operates in a global, competitive environment, which gives rise to operating and market risk exposure.
  • Financial Flexibility: Market conditions could reduce TDCC's financial flexibility, which could impact the financial flexibility of the Corporation.
  • Pension and Other Postretirement Benefits: Increased obligations and expenses related to the Corporation's defined benefit pension plans and other postretirement benefit plan could negatively affect UCC's financial condition and results of operations.
  • Supply/Demand Balance: Earnings generated by the Corporation vary based in part on the balance of supply relative to demand within the industry.
  • LEGAL AND REGULATORY RISKS
  • Environmental Compliance: The costs of complying with evolving regulatory requirements could negatively impact the Corporation's financial results. Actual or alleged violations of environmental laws or permit requirements could result in restrictions or prohibitions on plant operations, substantial civil or criminal sanctions, as well as the assessment of strict liability and/or joint and several liability.
  • Litigation: The Corporation is party to a number of claims and lawsuits arising out of the normal course of business with respect to commercial matters, including product liability, governmental tax and regulation disputes, and other actions.
  • Health and Safety: Increased concerns regarding the safe use of chemicals and plastics in commerce and their potential impact on the environment have resulted in more restrictive regulations and could lead to new regulations.
  • Plastic Waste: Increased concerns regarding plastic waste in the environment, consumers selectively reducing their consumption of plastic products, a lack of plastic waste collection and recycling infrastructure, or new or more restrictive regulations and rules related to plastic waste could reduce demand for the Corporation’s plastic products and could negatively impact the Corporation’s financial results.
  • Raw Materials: Availability of purchased feedstocks and energy, and the volatility of these costs, impact the Corporation's operating costs and add variability to earnings.
  • Operational Event: A significant operational event could negatively impact the Corporation's results of operations.
  • Cyber Threat: The risk of loss of the Corporation's trade secrets, know-how or other sensitive business information or disruption of operations could negatively impact the Corporation's financial results.
Management Discussion
  • Total net sales were $3,047 million for the first six months of 2022 compared with $2,329 million for the first six months of 2021, an increase of 31 percent. Net sales to related companies, principally to TDCC, were $2,944 million for the first six months of 2022 compared with $2,258 million for the first six months of 2021, an increase of 30 percent. Selling prices to TDCC are determined in accordance with the terms of an agreement between UCC and TDCC.
  • In the first six months of 2022, average selling price increased 28 percent compared with the first six months of 2021. Price increased across almost all product lines, driven by tight industry supply and demand dynamics and rising raw material and feedstock costs, with the most significant price increases in glycol ethers, polyethylene, oxo alcohols, ethanolamines and plastics used for wire and cable applications. Volume for the first six months of 2022 increased 3 percent compared with the first six months of 2021. Volume increased across most product lines with the most significant volume increases in oxo alcohols and ethanolamines, partially offset by volume decreases in polyethylene, due to planned maintenance turnaround activity, and vinyl acetate monomers, due to a utility outage in the first quarter of 2022 which resulted in unplanned maintenance, downtime and process issues.
  • Cost of sales was $2,524 million for the first six months of 2022 compared with $2,245 million for the first six months of 2021, an increase of 12 percent. The increase in cost of sales was driven primarily by higher raw material and feedstock costs. Cost of sales in the first six months of 2022 was also negatively impacted by environmental charges of $37 million, resulting primarily from updated remediation estimates and scope changes on existing matters.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Bad
Removed: acrylic, Coast, damage, equipment, Gulf, March, precautionary

Patents

Utility
Dispersant Polymer for Automatic Dishwashing
23 Jun 22
An automatic dishwashing composition is provided including a builder; a phosphonate; a nonionic surfactant; and a dispersant polymer, comprising: (a) 50 to 95 wt %, based on weight of the dispersant polymer, of structural units of a monoethylenically unsaturated monocarboxylic acid monomer; and (b) 5 to 50 wt %, based on weight of the dispersant polymer, of structural units of a sulfate bearing ethylenically unsaturated monomer.
Utility
Anti-redeposition additive for laundry detergent
10 May 22
A laundry detergent composition comprising an anti-redeposition agent, a surfactant, and optionally a builder, wherein the anti-redeposition agent is a polymer comprising polymerized units of: (a) from 5 to 40 wt % of at least one nitrogen-containing ethylenically unsaturated monomer having at least one pKa value from 6 to 11.5, and (b) from 60 to 95 wt % of at least one ethylenically unsaturated carboxylic acid monomer.
Utility
Personal care composition
15 Feb 22
A personal care composition is provided, comprising: a vehicle; a surfactant; a water-soluble cellulose ether base material substituted with a hydrophobic group having a carbon chain with 8 to 15 carbon atoms; wherein the water-soluble cellulose ether base material has a weight average molecular weight, Mw, of >800,000 Daltons; and, wherein the body wash formulation contains <0.01 wt % alkyl sulfate and <0.01 wt % alkyl ether sulfate.
Utility
Personal Care Composition
10 Feb 22
A personal care composition is provided, comprising: a cosmetically acceptable carrier; a cosmetically acceptable silicone; a modified carbohydrate polymer; wherein the modified carbohydrate polymer comprises a cellulose ether base material functionalized with (i) quaternary ammonium groups, wherein the quaternary ammonium groups and wherein the modified carbohydrate polymer has a Kjeldahl nitrogen content corrected for ash and volatiles, TKN, of 1.0 to 4.0 wt %; and (ii) hydrophobic substituents, wherein the hydrophobic substituents comprise an alkyl group having an average of 10 to 20 carbon atoms; wherein the modified carbohydrate polymer comprises >0.005 to <0.05 moles of the hydrophobic substituents per mole of the cellulose ether base material; wherein the hydrophobic groups are randomly distributed across the backbone of the cellulose ether base material; and wherein the cellulose ether base material has a weight average molecular weight, Mw, of >200,000 Daltons.
Utility
Chloride-free cationic polymers using acetate anions
25 Jan 22
A composition contains ethylenically unsaturated quaternary ammonium cations with acetate counterions, where each of the ethylenically unsaturated ammonium cations contain only one non-aromatic carbon-carbon double bond and the composition contains less than one mole-percent chloride relative to quaternary ammonium cations can be polymerized to form a cationic polymer acetate.