Chemours Turns To Profit In Q3

(RTTNews) - The Chemours Company (CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, reported that its third quarter net income was $204 million or $1.11 per share, versus net loss of $29 million, or $0.16 per share in the prior-year quarter.

Adjusted earnings per share rose to $0.61 from $0.40 in the prior year.

Adjusted EBITDA for the third quarter was $268 million versus $169 million in the prior-year quarter. Benefits from cost reductions, improved average prices in Titanium Technologies and improved profitability in Fluoroproducts was partially offset by the loss of Adjusted EBITDA from the asset sales within Chemical Solutions.

Quarterly net sales were $1.4 billion, a decrease of 6 percent from $1.5 billion in the prior-year quarter, primarily due to the impact of divestitures.

We now expect full-year 2016 Adjusted EBITDA to be between $740 million and $775 million. We are pleased with the progress we have made year-to-date, and believe we are in a stronger position as we move forward