Jefferies Raises Price Target on Chemours (CC) to $17; Reiterates Hold
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The Chemours Company Reports Third Quarter 2016 Results; Significant Earnings and Margins Increases Driven by Progress on Transformation Plan and Improved Market Conditions
November 6, 2016 4:30 PM ESTWILMINGTON, Del., Nov. 6, 2016 /PRNewswire/ --
Third Quarter 2016 Highlights
Net Sales of $1.4 billion Net Income of $204 million, or $1.11 per diluted share, including gain on asset sales of $169 million, impairment charges of $46 million, interest expense of $51 million and restructuring costs of $14 million Adjusted EBITDA of $268 million Adjusted Net Income of $112 million, or $0.61 per diluted shareOther Highlights
Continued progress on all transformation plan objectives, including cost reductions, growth initiatives and portfolio rationalization Improved cash from operating activities by ~$440 million year-to-date Retired $315 million of long term... More