Chemours reports strong second quarter sales despite news of GenX
WILMINGTON, DE (WWAY) — Chemours, a global chemistry company, announced financial results for the second quarter of 2017.
Chemours is known locally as the company that was dumping GenX into the Cape Fear River from their Fayetteville plant.
According to a press release on the company’s website, some highlights of the results include:
- Net Sales of $1.6 billion, up 15%
- Net Income of $161 million, up $179 million with EPS of $0.84, up $0.94 per diluted share
- Adjusted EBITDA of $361 million, up $174 million, driven by strong year-over-year volume and price improvement in Titanium Technologies and Fluoroproducts
- Adjusted Net Income of $166 million, up $117 million with Adjusted EPS of $0.87, up $0.60 per diluted share
- Net leverage1 down to 2.2 times, well below target of 3 times
Chemours President and CEO Mark Vergnano said, “Our strong financial performance is a clear reflection of the quality of our business segments, the engagement of our employees, and the loyalty of our key customers.”
Second quarter net sales were $1.6 billion, an increase of 15 percent from $1.4 billion in the prior-year quarter.
To read the full report, click here.
About The Chemours Company
The Chemours Company helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™. Chemours has approximately 7,000 employees and 26 manufacturing sites serving approximately 4,000 customers in North America, Latin America, Asia-Pacific and Europe.
Chemours is headquartered in Wilmington, Delaware.
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