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WILMINGTON, Del. - Chemours (NYSE:CC) reported first quarter earnings that fell short of analyst expectations, sending its stock down 2.3% in after-hours trading.
The chemical company posted adjusted earnings per share of $0.13, missing the consensus estimate of $0.23. Revenue came in slightly ahead at $1.37 billion versus expectations of $1.36 billion.
Net sales of $1.4 billion were flat compared to the same quarter last year. The company’s Thermal & Specialized Solutions segment saw 40% year-over-year growth in Opteon Refrigerants sales.
However, Chemours swung to a net loss of $4 million in Q1, compared to net income of $54 million in the prior year period. The loss was primarily driven by lower business performance and restructuring charges related to exiting its Surface Protection Solutions Capstone business.
"While we experienced some headwinds across all three businesses, macroeconomic and business-related, we remain steadfast in executing our strategy, focusing on driving long-term shareholder value," said CEO Denise Dignam.
For full year 2025, Chemours expects adjusted EBITDA between $825 million to $950 million. The company also announced a 65% reduction in its quarterly dividend to $0.0875 per share to improve balance sheet flexibility.
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