Chemours stock rallies 8% on Q3 beat, raised guidance

0
87

Shares of Chemours Co. CC, -2.09% rose more than 8% in the extended session Thursday after the chemicals company reported third-quarter profit and sales above Wall Street expectations and raised its full-year 2021 guidance. Chemours said it earned $214 million, or $1.27 a share, compared with $76 million, or 46 cents a share, in the year-ago quarter. Adjusted EPS matched the GAAP EPS at $1.27. Revenue rose 36% to $1.7 billion. FactSet consensus called for EPS of $1.01 on sales of $1.6 billion. Chemours raised its EBITDA guidance to between $1.30 billion and $1.34 billion, compared with a previous guidance of between $1.10 billion and $1.25 billion. It called for adjusted EPS between $3.93 and $4.13, compared with a prior forecast of between $2.84 and $3.56. Chemours lowered its capex guidance lowered to about $325 million, from about $350 million previously. The stock ended the regular trading day down 2.1%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous article: Apple to end mask requirements at many U.S. stores: report
Next articleDow finishes in the red as S&P 500, Nasdaq extend record run

LEAVE A REPLY

Please enter your comment!
Please enter your name here