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Looks like this is the bottom................
News: $CC Chemours' John Sworen Receives Moore Medal for Developing Non-Fluorinated Bio-Based Water Repellent
WILMINGTON, Del. , Sept. 10, 2019 /PRNewswire/ -- John Sworen , a Technical Fellow at The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, today will receive the 2019 SCI Gord...
In case you are interested CC - Chemours' John Sworen Receives Moore Medal for Developing Non-Fluorinated Bio-Based Water Repellent
Traded few times, still lost a little, sold out 19's. Blew threw gap from few years ago was checking out $16's, now staying on the sidelines this one and couple others.
Becoming one of these people nervous about the market in general lately. I am running up my weed stocks hopefully and go to cash, as possible.
Seems like the market now really tough on tickers like CC and runs any hint of headwinds; until recently more forgiving, now punishing them.
Had a great year so far; now wanting to bank and come back later.
gl
Wow- lowered my entry target. Bummed this got so beat up even though I don't own yet.
So sorry, this will interest me around $12.75 at this point. Hope they get it together and their Moody's doesn't get lowered.
BOL!
MY OWN MUSINGS. I DO NOT HAVE A POSITION IN THIS STOCK AS OF THIS POST.
-20%
Not so pretty
Here's what's up CC: https://www.insidernj.com/press-release/sierra-club-lawsuit-shows-dupont-downplays-environmental-liability/
Traded this OK, so not down much so far, but inclined to add lower as they sue Dupont for misrepresenting the cleanups.
gl
5 times earnings, idk happy to own, 4.5% divvy...
I'm going to wait for a little more value-fundamentals seem great, just a little expensive.
Thinking $18-$19.
MY OPINION ONLY.
Watch list long time, buyer again today CC $$...
Agree- its like rooting for the bad guys in a movie!
Chemicals getting hit hard in general. I wouldn't classify CC as a bad company- in fact, I'm bullish on the whole sector LONG TERM.
BOL, I DO NOT HAVE A POSITION IN CC
MY OPINION ONLY!
Lot of people hitting the exit door on this pos it seems
News: $CC Chemours Announces Dates for Fourth Quarter and Full-Year 2018 Earnings Release and Webcast Conference Call
WILMINGTON, Del. , Jan. 24, 2019 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced it will release fourth quarter and full-year 2018 financial...
Find out more https://marketwirenews.com/news-releases/chemours-announces-dates-for-fourth-quarter-and-full-year-2018-earnings-release-and-webcast-conference-call-7549410.html
"The Devil we Know" must see Movie https://thedevilweknow.com/
High volume of buying at the close of business today leading into the earnings disclosure.
Not much MarginOfSafety for Chemours $CC going into earnings Wednesday...
Valuation Source
The Chemours Company Reports Third Quarter 2016 Results; Significant Earnings and Margins Increases Driven by Progress on Transformation Plan and Improved Market Conditions (11/06/16)
WILMINGTON, Del., Nov. 6, 2016 /PRNewswire/ --
Third Quarter 2016 Highlights
•Net Sales of $1.4 billion
•Net Income of $204 million, or $1.11 per diluted share, including
gain on asset sales of $169 million, impairment charges of $46 million, interest expense of $51 million and restructuring costs of $14 million
•Adjusted EBITDA of $268 million
•Adjusted Net Income of $112 million, or $0.61 per diluted share
Other Highlights
•Continued progress on all transformation plan objectives, including cost reductions, growth initiatives and portfolio rationalization
•Improved cash from operating activities by ~$440 million year-to-date
•Retired $315 million of long term debt through October 31, 2016
•Generated ~$685 million in gross proceeds from Chemical Solutions divestitures
•Increased full-year Adjusted EBITDA outlook to be between $740 and $775 million based on a net income range of approximately $265 to $290 million
The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, today announced financial results for the third quarter 2016.
Chemours President and CEO Mark Vergnano said, "We continue to make excellent progress on all aspects of our transformation plan, realizing an incremental $60 million of cost savings during the quarter. We are benefiting from the OpteonTM refrigerant ramp up and the expansion of our low-cost TiO2 capacity at Altamira, while at the same time, delivering our planned cost reductions." He continued, "We successfully completed the Chemical Solutions portfolio review during the quarter, generating substantial proceeds. And, in the quarter, our Titanium Technologies business benefited from more favorable market conditions, while the fluoropolymers market remained challenged. Transformation initiatives are pervasive throughout the company and our results speak for themselves."
Third quarter net sales were $1.4 billion, a decrease of 6 percent from $1.5 billion in the prior-year quarter, primarily due to the impact of divestitures. Third quarter net income was $204 million, or $1.11 per diluted share, versus net loss of $29 million, or ($0.16) per diluted share in the prior-year quarter. Adjusted EBITDA for the third quarter was $268 million versus $169 million in the prior-year quarter. Benefits from cost reductions, improved average prices in Titanium Technologies and improved profitability in Fluoroproducts was partially offset by the loss of Adjusted EBITDA from the asset sales within Chemical Solutions.
Sequentially, sales increased 1 percent to $1.4 billion in the third quarter. Third quarter net income was $222 million higher, or $1.21 per diluted share, versus the second quarter net loss of $18 million or ($0.10) per diluted share. The sales improvement was largely driven by higher seasonal volumes in Titanium Technologies and Fluoroproducts supplemented by higher TiO2 pricing. Third quarter Adjusted EBITDA increased $81 million from $187 million in the second quarter of 2016. Improved pricing in Titanium Technologies and OpteonTM refrigerant growth in Fluoroproducts were the primary drivers of the improved sequential performance, which were partially offset by unfavorable Corporate and Other expenses.
Titanium Technologies
In the third quarter, Titanium Technologies segment sales were $625 million, a 1 percent increase versus the prior-year quarter. Improved year-over-year global average TiO2 pricing increased sales 2 percent which was partially offset by minimal currency headwinds. Year-over-year, TiO2 volume was higher in all regions outside of China. Segment Adjusted EBITDA was $144 million, an 80 percent increase over the prior-year quarter. The increase in Adjusted EBITDA was primarily due to the benefits of price increases, transformation plan cost savings, and operational efficiencies.
Sequentially, versus the second quarter of 2016, sales increased 5 percent and Adjusted EBITDA increased $33 million, or 30 percent. The increase in sales was due to slightly stronger volumes and a higher global average price increase of approximately 3 percent. A volume increase of 2 percent was the result of stronger demand primarily in Asia and Latin America. Higher Adjusted EBITDA was driven by the benefits of global average price increases, stronger volumes and better utilization resulting in lower costs.
Fluoroproducts
Fluoroproducts segment sales in the third quarter were $591 million, an increase of 3 percent versus the prior-year quarter. A substantial increase in demand for Opteon™ refrigerants was mostly offset by government-imposed volume reductions of base refrigerants as well as competitive pricing pressure within fluoropolymers. Segment Adjusted EBITDA was $143 million, a 57 percent improvement versus the prior-year quarter. Increased contributions from Opteon™ refrigerants and transformation cost reductions were partially offset by unfavorable pricing and mix within our fluoropolymers product lines.
Sequentially, versus the second quarter of 2016, sales and Adjusted EBITDA increased 3 percent and 36 percent, respectively. The Opteon™ refrigerants ramp up and strong demand for certain fluoropolymers products more than offset regulatory-driven lower demand in base refrigerant sales. In addition to Opteon™ refrigerant growth, the increase in Adjusted EBITDA was primarily attributed to cost reductions.
Chemical Solutions
In the third quarter, Chemical Solutions segment sales were $182 million, a 38 percent decline versus the prior-year quarter. Lower sales were driven by the divestitures of the Clean and Disinfect business, Sulfur Products and Beaumont Aniline facility, as well as reduced average prices based on contractual pass-through terms. Segment Adjusted EBITDA was $9 million, $1 million above the prior-year quarter, reflecting lower operating costs partially offset by the impacts of the divestitures.
Sequentially, sales decreased 15 percent versus the second quarter of 2016, while Adjusted EBITDA was $2 million lower driven primarily by portfolio changes completed in the current quarter.
In the third quarter, we completed the sales of Sulfur Products and the Clean and Disinfect business to Veolia and LANXESS, respectively, for combined proceeds of approximately $544 million. Also, consistent with the company's plan to streamline the portfolio and deliver cost savings in 2017, the company ceased production at the Niagara Reactive Metals facility at the end of September.
Corporate and Other
Corporate and Other represented a negative $28 million of Adjusted EBITDA, an increase of $18 million versus the prior-year quarter. Higher expenses were primarily related to performance-related compensation adjustments and other miscellaneous expenses in the quarter. Versus the second quarter of 2016, Corporate and Other expenses declined $12 million largely due to timing of expenses.
The company realized a cash tax rate of approximately 16 percent in the quarter. For the full year 2016, the company expects its cash tax rate to be in the low-twenties on a percentage basis, taking into consideration the company's anticipated geographic mix of earnings and implications of all divestitures during the year.
Liquidity
As of September 30, 2016, gross consolidated debt was $3.8 billion. Debt, net of cash, was $2.8 billion. In the quarter, the company retired approximately $115 million of its bonds. Cash balances were $957 million at September 30, 2016. In October 2016, the company retired an additional $107 million of its bonds, resulting in over $315 million of total long term debt retired year-to-date. As a result, the company expects to save approximately $19 million annually from lower interest obligations.
Improved inventory management along with the start of seasonal working capital unwind drove strong progress in working capital results and led to free cash flow of $132 million, up $124 million versus the previous-year quarter. Year-to-date working capital1 performance and free cash flow improved by $448 million and $601 million, respectively, versus the prior-year.
Outlook
"We remain disciplined and focused on executing our Five-Point Transformation Plan," Vergnano commented. "We expect the transformation plan improvements, along with a stronger price environment for TiO2 and increased OpteonTM refrigerants adoption to continue to enhance earnings, despite loss of earnings from divestitures, base refrigerant sales timing and unfavorable Fluoropolymers mix. We now expect full-year 2016 Adjusted EBITDA to be between $740 million and $775 million. We are pleased with the progress we have made year-to-date, and believe we are in a stronger position as we move forward."
Conference Call
As previously announced, Chemours will hold a conference call and webcast on Monday, November 7, 2016 at 8:30 AM EST. The webcast and additional presentation materials can be accessed by visiting the Events & Presentations page of Chemours' investor website, investors.chemours.com. A webcast replay of the conference call will be available on the Chemours' investor website.
About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,000 employees across 25 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more information please visit chemours.com.
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http://www.prnewswire.com/news-releases/the-chemours-company-reports-third-quarter-2016-results-significant-earnings-and-margins-increases-driven-by-progress-on-transformation-plan-and-improved-market-conditions-300358103.html
The Chemours Company Announces Second Quarter Results; Reports Substantial Progress on Transformation Plan Initiatives (8/08/16)
WILMINGTON, Del., Aug. 8, 2016 /PRNewswire/ --
Second Quarter 2016 Highlights
•Net Sales of $1.4 billion
•Net Loss of $18 million, or ($0.10) per diluted share, including impairment charges of $63 million, interest expense of $50 million and restructuring costs of $9 million
•Adjusted EBITDA of $187 million
•Adjusted Net Income of $49 million, or $0.27 per diluted share
Other Year-To-Date Highlights
•Continued progress on Five-Point Transformation Plan objectives, including delivery of ~$100 million of cost reductions in the first half of 2016, completion of the strategic review of Chemical Solutions portfolio, commercial startup of Altamira TiO2 capacity expansion and announced investment in additional Opteon™ capacity
•$359 million improvement in cash flow from operating activities in the first half
•Reduced ~$100 million of long term debt year-to-date
•Completed the sale of the Sulfur business to Veolia for approximately $325 million
Today, The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced financial results for the second quarter 2016.
Chemours President and CEO Mark Vergnano said, "Our second quarter results reflect our focused execution against our Five-Point Transformation Plan and our drive to deliver on our commitments to all our stakeholders. We have just celebrated our first anniversary as a public company, and we are pleased with the progress we have made in that time to strengthen our business model, reduce costs, and optimize our company portfolio. At this point, we have completed the strategic review of our Chemical Solutions portfolio, closed the sale of our Sulfur business for approximately $325 million and announced the sale of our Clean and Disinfect business for $230 million. We began commercial production at our new TiO2 plant in Altamira, Mexico and have been encouraged by improvement in the titanium technologies segment with increasing TiO2 prices. Overall, I am very pleased that we have delivered approximately $100 million in cost reductions, improved margins, improved our working capital, streamlined our portfolio and modestly improved our balance sheet in the first half of 2016."
Second quarter net sales were $1.4 billion, a decrease of 8 percent from $1.5 billion in the prior-year quarter. Second quarter net loss was $18 million, or ($0.10) per diluted share, versus net loss of $18 million, or ($0.10) per diluted share on a pro forma basis in the prior-year quarter. Adjusted EBITDA for the second quarter was $187 million versus $127 million in the prior-year quarter. Improved profitability in Fluoroproducts and cost reductions throughout the company were partially offset by lower average prices in Titanium Technologies and Chemical Solutions along with approximately $9 million of unfavorable currency movements versus the prior-year quarter.
Sequentially, sales increased by $86 million, an increase of 7 percent from $1.3 billion in the first quarter. Second quarter net loss was $18 million, or ($0.10) per diluted share down from net income of $51 million or $0.28 per diluted share. The net loss was primarily driven by asset impairment charges of $63 million in the second quarter. Second quarter Adjusted EBITDA increased by $59 million versus $128 million in the first quarter of 2016. The improved performance was primarily driven by higher seasonal volumes in Titanium Technologies and Fluoroproducts and supplemented by higher TiO2 pricing and lower costs. These were partially offset by unfavorable Corporate and Other expenses.
Titanium Technologies
In the second quarter, Titanium Technologies segment sales were $596 million, a 7 percent decline versus the prior-year quarter. Lower year-over-year pricing reduced net sales 6 percent and lower volume of non-TiO2 product lines and the timing of TiO2 shipments reduced net sales 1 percent. Strong demand in North America and EMEA was offset by weaker volumes in Asia and Latin America versus the prior-year quarter. Segment Adjusted EBITDA was $111 million, a 22 percent improvement compared to the prior-year quarter. Benefits from cost reductions and operational efficiencies drove the improvement in Adjusted EBITDA, but were partially offset by the lower average prices. Currency movements contributed a moderate benefit in the quarter versus the previous-year quarter.
Sequentially, versus the first quarter of 2016, sales increased 14 percent and Adjusted EBITDA increased $57 million, or 105 percent. The increase in sales was due to seasonally stronger volumes and higher global average price increase of approximately 5 percent. Volume increased 10 percent driven by sequentially higher demand in all regions except Latin America. The benefits of global average price increases, stronger volumes, transformation plan cost savings and a $4 million impact from favorable currency movements drove the increase in Adjusted EBITDA. In August 2016, Chemours communicated to customers in EMEA and Latin America that an additional $150 per tonne price increase will be effective September 1, 2016.
Fluoroproducts
Fluoroproducts segment sales in the second quarter were $573 million, a decrease of 3 percent versus the prior-year quarter. Stronger demand for Opteon™ refrigerants in both Europe and the U.S. delivered a significant increase in volume that was offset by regulated volume reductions of base refrigerants, weaker demand for fluoropolymer products into consumer electronics markets and lower pricing due to product mix. Segment Adjusted EBITDA was $105 million, a 94 percent increase versus the prior-year quarter. Transformation plan cost reductions, improved manufacturing operations and increased Opteon™ refrigerant contributions were partially offset by unfavorable mix of fluoropolymers products and approximately $11 million of unfavorable currency movements versus the prior-year quarter.
Sequentially, versus the first quarter of 2016, sales and Adjusted EBITDA increased 8 percent and 24 percent, respectively. Seasonally stronger refrigerant sales, along with continued ramp up in Opteon™ refrigerant volumes, more than offset weaker prices related to unfavorable mix of fluoropolymer sales. The increase in Adjusted EBITDA was driven by Opteon™ refrigerant growth, lower costs and approximately $4 million of benefit from currency movements in the quarter that were partially offset by the unfavorable product mix.
Chemical Solutions
In the second quarter, Chemical Solutions segment sales were $214 million, a 23 percent decline versus the prior-year quarter, primarily due to pass-through impact on prices of lower raw material costs and the portfolio impact of the Beaumont, TX aniline facility sale. Segment Adjusted EBITDA was $11 million, $7 million above the prior-year quarter, reflecting continued benefits from transformation plan initiatives that are lowering operating costs across the segment. The timing of the planned cyanide expansion has been pushed back due to permitting delays, and Chemours now expects the majority of capital expenditures related to the construction will take place in 2017.
Sequentially, sales decreased 13 percent versus the first quarter of 2016 primarily as a result of pass-through pricing, while Adjusted EBITDA was $1 million higher driven primarily by lower operating costs in the second quarter.
In the second quarter, the company completed its strategic review of the Chemicals Solutions segment. On July 29, 2016, the company completed the sale of its Sulfur business to Veolia for approximately $325 million. Chemours expects to close the sale of the Clean and Disinfect (C&D) business to LANXESS for $230 million in the second half of 2016. During the second quarter, activities to shut down the Reactive Metals business in Niagara, NY continued with expected closure by the end of this year.
Corporate and Other
Corporate and Other represented a negative $40 million of Adjusted EBITDA. Corporate and Other expenses in the second quarter of 2016 increased $18 million and $19 million versus the prior-year quarter and the first quarter 2016, respectively. The increase in expenses primarily related to performance-related compensation adjustments, litigation and other miscellaneous expenses in the quarter.
The company recognized a cash tax rate of approximately 25 percent in the quarter, excluding restructuring and other nonrecurring charges. For the full year 2016, the company expects its cash tax rate to be in the high-teens percentages, taking into consideration the company's anticipated geographic mix of earnings and additional implications anticipated with the Sulfur and C&D transactions.
Liquidity
As of June 30, 2016, gross consolidated debt was $3.9 billion. Debt, net of cash, was $3.5 billion.
Cash balances were $383 million at June 30, 2016. In the quarter, the company retired $50 million of Term Loan B and $42 million of its bonds for a combined cash amount of $85 million. An additional $8 million of bonds were retired in July 2016, completing $100 million of total long term debt repurchased year-to-date. As a result of these purchases, the company expects to save approximately $5 million annually from lower interest obligations.
Excluding the impact of interest payments in the quarter, the company continued to improve working capital performance through better inventory management and collections and payables processes. Year-to-date working capital1 performance and free cash flow improved by $219 million and $347 million, respectively, versus the prior-year, not including the benefit of the DuPont prepayment originally received in February 2016.
Outlook
"We are gaining momentum this year from the success of our transformation plan, including cost reductions, portfolio optimization, the ramp up of Opteon™ products and the expansion at Altamira," Vergnano continued. "We expect these initiatives along with our TiO2 price increases will deliver full-year Adjusted EBITDA greater than 2015 and generate modestly positive free cash flow. At this point in the year, we believe that our full-year capital expenditures are tracking slightly below $400 million, primarily due to the shift in the timing of the cyanide expansion. We intend to increase our investment in our Corpus Christi site to add flexibility for our anticipated Opteon™ expansion. We are also investing in other high-return capital projects that will enhance opportunities in our core businesses. We have gained confidence in our ability to realize our transformation plan goals of delivering $350 million of cost reductions and $150 million in Adjusted EBITDA associated with Opteon™ and Altamira through 2017. We believe that we are increasingly well-positioned to continue to strengthen our balance sheet and enhance Chemours' market leadership as we move forward."
Conference Call
As previously announced, Chemours will hold a conference call and webcast on Tuesday, August 9, 2016 at 8:30 AM EDT. The webcast and additional presentation materials can be accessed by visiting the Events & Presentations page of the Chemours investor website, investors.chemours.com. A webcast replay of the conference call will be available on the Chemours investor website.
1 Excludes $131 million of benefit from DuPont prepayment.
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About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,000 employees across 35 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more information please visit chemours.com.
http://www.prnewswire.com/news-releases/the-chemours-company-announces-second-quarter-results-reports-substantial-progress-on-transformation-plan-initiatives-300310818.html