Chemours reports Q1 EPS 34c, consensus 18c

Reports Q1 revenue $1.4B, consensus $1.35B. “Net Sales for the first quarter were in line with our expectations across all three of our segments. Consolidated Adjusted EBITDA was higher than anticipated driven by the allocation of TiO2 volumes to higher-yield regions, the timing of lower-cost ore consumption, the strong execution of our TT Transformation Plan, and lower-than-expected corporate costs,” said Chemours CEO Denise Dignam. “TSS continued to see a strong adoption of Opteon(TM) products in stationary and auto aftermarket applications combined with seasonal demand strength. The APM orderbook remains near its recent lows but reflects a modest recovery since year end. We also remain focused on ramping capacity in our Performance Solutions product portfolio to serve growing opportunities, primarily in the semiconductor manufacturing market. Lastly, we delivered significant efficiencies and cost reductions through our TT Transformation Plan and remain focused on becoming one of the lowest cost TiO2 producers globally.”