Stock Monitor: Amyris Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free earnings report on The Chemours Co. (NYSE: CC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CC. Chemours reported its fourth quarter and fiscal 2017 operating and financial results on February 14, 2018. The Industrial Material Company exceeded top- and bottom-line expectation and provided guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Amyris, Inc. (NASDAQ: AMRS), which also belongs to the Basic Materials sector as the Company Chemours. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Chemours most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
Chemours' net sales were $1.58 billion in Q4 2017, reflecting a 19% increase from net sales of $1.32 billion in Q4 2016. Higher prices, primarily for Ti-Pure™ titanium dioxide, added 10% to revenue, while volume across all segments grew revenue by 8%, and favorable currency in the reported quarter resulted in a 2% revenue growth. The Company's reported numbers beat analysts' estimates of $1.55 billion.
During Q4 2017, Chemours' adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) soared 65% to $394 million compared to $239 million in Q4 2016.
For Q4 2017, Chemours reported net income of $228 million, or $1.19 per diluted share, compared to net loss of $230 million, or $1.26 per diluted share, for Q4 2016. The Company's results were impacted by the $335 million legal settlement charge during Q4 2016.
Chemours' Full-year (FY) 2017 net sales advanced 15% to $6.18 billion from $5.40 billion in FY16. Volume growth across all segments, added 11% to revenue, and higher prices, primarily for Ti-Pure™ titanium dioxide, increased revenue by an additional 8%, while portfolio effects of divestitures and site closure within Chemical Solutions were a 4% headwind in the reported period.
For FY17, Chemours reported net income of $746 million, or $3.91 per diluted share, compared to net income of $7 million, or $0.04 per diluted share, in FY16. The Company's previous year's earnings included a gain of $254 million from the sale of businesses in the Chemical Solutions segment, while also unfavorably impacted by the legal settlement charge recorded during Q4 2016.
The Chemours Co.'s Segment Results
During Q4 2017, the Fluoroproducts segment's sales grew 15% to $656 million on a y-o-y basis. The segment's volume increased on a y-o-y basis due to continued adoption of Opteon™ refrigerants and greater demand for base refrigerants and fluoropolymers. In the reported quarter, the segment's adjusted EBITDA was $159 million, up 43% compared to $111 million in the prior year's same quarter, driven by higher prices and volume.
For Q4 2017, the Chemical Solutions segment's sales grew 3% to $134 million compared to $130 million in Q4 2016, as strong demand for Performance Chemicals & Intermediates products was partially offset by lower Mining Solutions volume due to planned maintenance during the quarter. The segment's adjusted EBITDA surged 122% to $20 million compared to $9 million in the prior year's quarter, primarily attributed to higher volume of retained businesses, lower fixed costs, and higher licensing income.
During Q4 2017, the Titanium Technologies segment's sales surged 26% to $785 million compared to $623 million, driven by higher global average selling prices as well as increased year-over-year volume for Ti-Pure™ titanium dioxide. The segment's adjusted EBITDA soared 66% to $261 million on a y-o-y basis, also a result of higher Ti-Pure™ titanium dioxide pricing and volume.
Liquidity
As of December 31, 2017, Chemours' gross consolidated debt was approximately $4.1 billion. The Company's debt, net of $1.6 billion cash, was approximately $2.6 billion, resulting in a net debt-to-adjusted EBITDA ratio of approximately 1.8 times on a trailing twelve-month basis.
For Q4 2017, Chemours' cash provided by operating activities was $303 million versus $269 million in Q4 2016. The Company's Free Cash Flow (FCF) was $138 million for the reported quarter versus of $166 million the year ago same period. The lower FCF was primarily related to higher capital spending in FY17 versus FY16.
Outlook
For full year 2018, Chemours is forecasting adjusted EBITDA within a range of $1.7 to $1.85 billion, reflecting a 25% increase at the midpoint over 2017. The Company is estimating adjusted earnings for FY18 to be within a range of $4.95 to $5.60, and FCF is expected to be greater than $600 million.
Stock Performance Snapshot
March 22, 2018 - At Thursday's closing bell, Chemours' stock dropped 2.58%, ending the trading session at $48.65.
Volume traded for the day: 2.70 million shares, which was above the 3-month average volume of 1.73 million shares.
Stock performance in the past twelve-month period – up 43.93%
After yesterday's close, Chemours' market cap was at $9.02 billion.
Price to Earnings (P/E) ratio was at 9.31.
The stock has a dividend yield of 1.40%.
The stock is part of the Basic Materials sector, categorized under the Specialty Chemicals industry.
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