Chemours beats by $0.25, beats on revs; Increases full-year 2017 outlook
- Reports Q1 (Mar) earnings of $0.75 per share, excluding items, $0.25 better than the Capital IQ Consensus of $0.50; revenues rose 10.8% year/year to $1.44 bln vs the $1.32 bln Capital IQ Consensus.
- "Coming off our strong first quarter results, we now expect our 2017 Adjusted EBITDA to be in a range of $1.15 billion to $1.25 billion. We continue to anticipate that performance will remain strong for both Ti-Pure titanium dioxide and Opteon refrigerants. We have seen earlier than anticipated demand for some of these products, and as a result, expect first half and second half profitability to be more balanced than we saw in 2016. Guided by our transformation plan, we believe we are well positioned for the remainder of 2017, as we continue to strengthen our businesses and benefit from positive market conditions."