The Chemours Company Reports Third Quarter 2016 Results; Significant Earnings and Margins Increases Driven by Progress on Transformation Plan and Improved Market Conditions

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Go back to The Chemours Company Reports Third Quarter 2016 Results; Significant Earnings and Margins Increases Driven by Progress on Transformation Plan and Improved Market Conditions

Jefferies Raises Price Target on Chemours (CC) to $17; Reiterates Hold

November 8, 2016 7:39 AM EST

Jefferies reiterated a Hold rating on Chemours (NYSE: CC), and raised the price target to $17.00 (from $15.00), following the company's 3Q earnings report. Adjusted EBITDA was $268m, ahead of consensus of $202m and reflected $60m of cost reductions and ~$54m of raw material benefits.

Analyst Laurence... More

Chemours (CC) Tops Q3 EPS by 28c; adj.-EBITDA Rose ~59%

November 7, 2016 7:51 AM EST

Chemours (NYSE: CC) reported Q3 EPS of $0.61, $0.28 better than the analyst estimate of $0.33. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.4 billion.

Highlights:

Continued progress on all transformation plan objectives, including cost reductions, growth initiatives and portfolio rationalizationImproved cash from operating activities by ~$440 million year-to-dateRetired $315 million of long term debt through October 31, 2016Generated ~$685 million in gross proceeds from Chemical Solutions divestituresIncreased full-year Adjusted EBITDA... More