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Hexion (HXOH)

Company profile

Ticker
HXOH
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
Former names
BORDEN CHEMICAL INC, BORDEN CHEMICAL INC, BORDEN INC, HEXION SPECIALTY CHEMICALS, INC., MOMENTIVE SPECIALTY CHEMICALS INC.
SEC CIK
Subsidiaries
BORDEN CHEMICAL, INC. • BCMP Colombia S.A. • Alisa, S.A. • BDS Two, Inc. • BFE, Inc. • Borden Chemical Canada, Inc. • Borden Chemical Foundry, Inc. • HA-International, LLC • Borden Chemical Investments, Inc. • Borden Chemical International, Inc. ...
IRS number
841019856

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

12 Nov 21
12 Aug 22
31 Dec 22
Quarter (USD) Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
13F holders Current Prev Q Change
Total holders 2 2
Opened positions 0 0
Closed positions 0 1 EXIT
Increased positions 0 0
Reduced positions 0 1 EXIT
13F shares Current Prev Q Change
Total value 2.87M 2.14M +34.2%
Total shares 100.84K 100.84K
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Pacific Asset Management 76.74K $2.19M 0.0%
Public Employees Retirement System Of Ohio 24.1K $687K 0.0%
Largest transactions Shares Bought/sold Change
Public Employees Retirement System Of Ohio 24.1K 0 0.0%
Pacific Asset Management 76.74K 0 0.0%

Financial report summary

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Competition
OlinCarbo Ceramics
Risks
  • Our operations, results and financial condition may be negatively impacted by the ongoing COVID-19 pandemic.
  • If global economic conditions are weak or deteriorate, it will negatively impact our business operations, results of operations and financial condition.
  • Fluctuations in direct or indirect raw material costs could have an adverse impact on our business.
  • An inadequate supply of direct or indirect raw materials and intermediate products could have a material adverse effect on our business.
  • Our production facilities are subject to significant operating hazards which could cause environmental contamination, personal injury and loss of life, and severe damage to, or destruction of, property and equipment.
  • Environmental obligations and liabilities could have a substantial negative impact on our financial condition, cash flows and profitability.
  • Future chemical regulatory actions may decrease our profitability.
  • We are subject to certain risks related to litigation filed by or against us, and adverse results may harm our business.
  • Because we manufacture and use materials that are known to be hazardous, we are subject to, or affected by, certain product and manufacturing regulations, for which compliance can be costly and time consuming. In addition, we may be subject to personal injury or product liability claims as a result of human exposure to such hazardous materials.
  • We are subject to claims from our customers and their employees, environmental action groups and neighbors living near our production facilities.
  • Our manufacturing facilities are subject to disruption due to operating hazards
  • As a global business, we are subject to numerous risks associated with our international operations that could have a material adverse effect on our business.
  • Our business is subject to foreign currency risk.
  • Fluctuations in energy costs could have an adverse impact on our profitability and negatively affect our financial condition.
  • We face increased competition from other companies and from substitute products, which could force us to lower our prices, which would adversely affect our profitability and financial condition.
  • We expect substantial cost savings from our ongoing strategic initiatives, and if we are unable to achieve these cost savings, or sustain our current cost structure, it could have a material adverse effect on our business operations, results of operations and financial condition.
  • Our success depends in part on our ability to protect our intellectual property rights, and our inability to enforce these rights could have a material adverse effect on our competitive position.
  • We could face intellectual property infringement claims that could result in significant legal costs and damages and impede our ability to produce key products, which could have a material adverse effect on our business, financial condition and results of operations.
  • We depend on certain of our key executives and our ability to attract and retain qualified employees.
  • If we fail to extend or renegotiate our collective bargaining agreements with our works councils and labor unions as they expire from time to time, if disputes with our works councils or unions arise, or if our unionized or represented employees were to engage in a strike or other work stoppage, our business and operating results could be materially adversely affected.
  • Certain of our pension plans are unfunded or under-funded and our required cash contributions could be higher than we expect, each of which could have a material adverse effect on our financial condition and liquidity.
  • Natural or other disasters have, and could in the future, disrupt our business and result in loss of revenue or higher expenses.
  • Divestitures that we pursue may present unforeseen obstacles and costs and alter the synergies we expect to continue to achieve from our ongoing cost reduction programs. Acquisitions and joint ventures that we pursue may present unforeseen integration obstacles and costs, increase our leverage and negatively impact our performance.
  • Our actual financial results may vary significantly from the projections that were filed with the Bankruptcy Court.
  • Our financial condition or results of operations will not be comparable to the financial condition or results of operations reflected in our historical financial statements.
  • Actions of activist shareholders, and such activism could adversely impact our business.
  • We may be unable to generate sufficient cash flows from operations to meet our consolidated debt service payments.
  • Our substantial indebtedness could adversely affect our ability to raise additional capital to fund our operations and limit our ability to react to changes in the economy or our industry.
  • Despite our substantial indebtedness, we may still be able to incur significant additional indebtedness. This could intensify the risks described above and below.
  • The terms governing our outstanding debt, including restrictive covenants, may adversely affect our operations.
  • Repayment of our debt, including required principal and interest payments, depends on cash flows generated by our subsidiaries, which may be subject to limitations beyond our control.
  • A downgrade in our debt ratings could restrict our access to, and negatively impact the terms of, current or future financings or trade credit.
Management Discussion
  • •Net Sales—Net sales in 2020 were $2,510, a decrease of 10% compared with $2,804 in 2019. Overall, COVID-19’s global impact on demand across various industries and markets in 2020 was the main driver of the decrease in net sales. Pricing negatively impacted sales by $182 due largely due to raw material decreases contractually passed through to customers across many of our businesses, as well as unfavorable product mix and continued competitive market conditions in our base epoxy resins and specialty epoxy resins businesses. Volume negatively impacted sales by $70 primarily related to volume decreases in our North American and Latin America forest products resins businesses and our North American formaldehyde business driven by COVID-19’s negative impact on global demand. These decreases were partially offset by volume increases in our specialty epoxy business driven by strong global demand in wind energy. Foreign exchange translation negatively impacted net sales by $42 due to the weakening of the Brazilian real and the Chinese Yuan against the U.S. dollar in 2020 compared to 2019, partially offset by the overall strengthening of the euro against the U.S. dollar in 2020 compared to 2019.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: abroad, addressable, announced, buildup, chain, compelling, composed, Conversely, curtailment, deductibility, deficit, disposition, domestic, draft, earnout, enhance, exposure, fertilizer, footnote, GDP, HCC, Hurricane, Ida, imposition, incorrectly, independent, inflow, line, maximum, million, noncurrent, opportunity, outflow, outpace, overstated, payout, polymer, registered, released, repay, shareholder, submitted, targeted, taxation, track, transformation, triazine, turnaround, understated, understatement
Removed: conform, decreased, mix, record, sequential, weak