Chemours Q4 Profit Climbs; Sees 2022 Profit In Line With View Edit My Quotes
(RTTNews) - Chemours Co. (CC) reported that its fourth quarter net income climbed to $233 million or $1.40 per share from $19 million in the same quarter last year.
Adjusted earnings per share was $0.81, up from $0.61 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.92 per share for the quarter. Analysts' estimates typically exclude special items.
Adjusted EBITDA for the fourth quarter 2021 was $307 million compared to $246 million in the prior-year fourth quarter, a result of higher pricing offset partially by lower volumes and cost headwinds related to raw material cost inflation and logistics. Currency was a slight headwind in the quarter.
Net Sales for the fourth quarter were $1.6 billion, 18% higher than the prior-year quarter. Volume and price were positive contributors to the improved results on a year-over-year basis. Analysts expected revenue of $1.57 billion for the quarter.
The company expects 2022 adjusted earnings per share to be between $4.07 and $4.70. Analysts expect annual earnings of $4.54 per share. The company expects Free Cash Flow of greater than $500 million, inclusive of about $400 million of capital expenditures.
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