CC - Chemours moves higher after beating Q3 earnings revenue estimates
Chemours ( NYSE: CC ) +2.6% post-market Tuesday after posting Q3 adjusted earnings and revenues that comfortably topped expectations, while reaffirming guidance for full-year adjusted EBITDA and free cash flow.
Q3 net income climbed to $240M, or $1.52/share compared with $0.25/share in the prior-year quarter, while net sales rose 6% Y/Y to $1.8B; price was a positive contributor to the improved results, up 18%, partially offset by lower volumes and currency headwinds of 5% and 3% Y/Y respectively.
Q3 net sales by segment: Titanium Technologies +3% Y/Y to $877M, with price rising 16% but offset by a 16% decline in volume; Thermal & Specialized Solutions +31% to $417M, with pricing up 25% and volume increasing 8%; Advanced Performance Materials +26% to a segment record breaking $450M, with price rising 23% and volume up 9%,
The company reiterated its forecast for FY 2022 adjusted EBITDA of $1.4B-$1.45B, and free cash flow greater than $575M.
Chemours' ( CC ) stock price return shows a 14.5% YTD loss and a 1.5% decline during the past year .
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Chemours moves higher after beating Q3 earnings, revenue estimates