Chemours Q1 Profit Down

(RTTNews) - Chemours Co. (CC) reported that its first quarter net income declined to $96 million or $0.57 per share from $100 million or $0.61 per share in the prior year.

Adjusted earnings per share was $0.71, same with the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.44 billion, 10% higher than the prior-year quarter, which included a negative 1% portfolio impact from the exit of the aniline business. Analysts expected revenue of $1.4 billion for the quarter.

The company now expects to deliver 2021 Adjusted EBITDA within a range of $1.1 billion to $1.25 billion and to generate greater than $450 million of Free Cash Flow.