Union Carbide Posts $79M Q1 Loss as Costs Exceed Revenue by $79M

Union Carbide Corporation reported a net loss of $79 million for the three months ended March 31, 2026, a slight improvement from the $82 million loss posted in the same quarter a year earlier. The chemical manufacturer remains unprofitable as operating costs continue to outpace revenue. Read more earnings reports.

Revenue climbed to $989 million from $978 million in the prior-year quarter, a gain of 1.1%. But cost of revenue surged to $1.07 billion from $1.06 billion, while selling, general and administrative expenses held steady at $2 million.

The company recorded a $21 million income tax benefit in both the current and prior-year periods, partially offsetting the operating loss.

Balance Sheet Grows

Total assets increased to $4.58 billion as of March 31, 2026, up from $4.52 billion at the end of December 2025. Current assets rose to $1.10 billion from $1.06 billion, driven by a $3 million increase in accounts receivable to $20 million. Inventory held nearly flat at $277 million compared to $278 million three months earlier.

Cash and cash equivalents remained unchanged at $11 million. Property, plant and equipment declined to $1.08 billion from $1.11 billion, reflecting ongoing depreciation.

Liabilities Rise

Current liabilities jumped to $1.18 billion from $1.03 billion at year-end 2025, an increase of $141 million. Long-term debt stood at $145 million, unchanged from the prior quarter-end. Retained earnings fell to $2.21 billion from $2.29 billion as the quarterly loss reduced equity.

Cash Flow Weakens

Cash from operations totaled $9 million for the quarter, down sharply from $38 million in the first quarter of 2025. Cash used in investing activities was $9 million, compared to $10 million a year earlier. The company reported no financing cash flows in the current quarter, versus a $28 million outflow in the prior-year period.

Union Carbide maintained 935.51 million common shares outstanding as of March 31, 2026, unchanged from December 31, 2025. The company is incorporated in New York and files as a non-accelerated filer.

Key Financials