Connect with us

CWEB Business News

The Chemours Company Shares Down 4 percent on Updated Guidance

The Chemours Company (NYSE:CC) shares were trading more than 4% lower Thursday afternoon following the company’s updated guidance announcement. Full 2022-year EBITDA guidance was lowered to a range of $1.40-$1.45 billion, down from the previous range of $1.475-$1.575 billion. Furthermore, the company revised its free cash flow guidance to around $575 million, down from $600 million.
Following the update, the analysts at RBC Capital lowered their estimates due to weakness in the company’s TT segment. 2022 and 2023 EBITDA estimates moved to $1.4 billion and $1.25 billion, respectively, down from $1.575 billion in both years.
According to the analysts, higher natural gas and other cost increases due to the Russia/Ukraine conflict have resulted in weak demand in TT, while the APM and TSS segments remain stable, mostly in North America.

Follow us on Google news for more updates and News

Full Disclaimer

More in CWEB Business News



Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.