CC - Chemours slides to YTD low after Q4 earnings miss tepid guidance

Chemours (CC -12.6%) plunges to a two-month low after missing Q4 adjusted earnings estimates and issuing disappointing guidance for FY 2022 earnings. Q4 net income surged to $233M from $19M in the year-earlier quarter, while adjusted EBITDA rose 25% Y/Y to $307M; for the full year, net income totaled $608M, with adjusted EBITDA of $1.31B. Q4 net sales by segment: Titanium Technologies +25% Y/Y to $865M, as volumes rose 6% despite ore and logistics constraints with prices 5% higher Q/Q; also Advanced Performance Materials +24% to $346M, Thermal & Specialized Solutions +8% to $295M, and Chemical Solutions -27% to $69M. Free cash flow for FY 2021 was $543M vs. $540M in 2020. For FY 2022, Chemours guided for EBITDA of $1.3B-$1.42B, and adjusted EPS of $4.07-$4.70, in line with $4.50 analyst consensus estimate. Chemours shares have gained 32% during the past year and 5% so far this year.

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Chemours slides to YTD low after Q4 earnings miss, tepid guidance