CC - Chemours climbs after strong Q1 earnings beat full-year guidance raise

Chemours (CC) +3.2% after reporting better than forecast Q1 adjusted earnings and raising its full-year outlook.Q1 adjusted EBITDA rose 4% to $268M compared to $257M in the prior-year quarter, as higher volume and favorable currency impact was partially offset by lower average pricing and under-absorption of fixed costs stemming from plant shutdowns related to Winter Storm Uri.Chemours says the winter storm knocked $9M off Q1 adjusted EBITDA, excluding the impact of lost sales.Q1 revenues rose 10% Y/Y to $1.4B, Chemours' highest quarterly sales total in more than two years, driven by 11% volume growth with positive contributions from every segment, led by Titanium Technologies and Advanced Performance Materials.Chemours raises its full-year EPS estimate to $2.84-$3.56 compared with prior guidance of $2.40-$3.12 and mostly above analyst consensus $2.87, and adjusted EBITDA to $1.1B-$1.25B from prior guidance of $1B-$1.15B and $1.11B consensus.The company also sees free cash flow coming in greater than

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Chemours climbs after strong Q1 earnings beat, full-year guidance raise