CC - Chemours spikes 6% on easy Q2 earnings beat record quarterly sales

Chemours ( NYSE: CC ) +6.9% post-market Thursday after easily topping Q2 adjusted earnings expectations, citing strong global demand for its refrigerants and differentiated polymer products.

Q2 net income tripled to $201M, or $1.26/share, from $66M, or $0.39/share, in the year-earlier quarter, and net sales increased 16% Y/Y to a quarterly record $1.9B, including records in all three company segments.

Company-wide pricing increased 23% during the period, helping boost sales and offsetting volume headwinds and currency headwinds.

Chemours ( CC ) said it is targeting the high end of its full-year adjusted EBITDA guidance of $1.475B-$1.575B and raising guidance for free cash flow to exceed $600M, compared with a previous forecast of more than $550M.

The company also said it will spend $80M to expand capacity at its Corpus Christi, Texas, plant to support strong demand for low GWP Opteon refrigerants.

Chemous' ( CC ) stock price return shows a 2% YTD gain and a 7% increase during the past year .

For further details see: