Chemours Reports Loss In Q3, But Sales Rise

(RTTNews) - The Chemours Company (CC), a provider of industrial and specialty chemicals products, Monday reported net loss of $27 million or $0.18 per share for the third quarter, compared with net profit of $12 million, or $0.08 per share in the same quarter a year ago, primarily impacted by a non-cash impairment charge of $56 million.

Excluding one-time items, earnings rose to $61 million or $0.40 per share from $65 million or $0.43 per share last year.

Sales for the quarter were $1.501 billion, up from $1.487 billion in the previous year.

On average, 9 analysts expected the company to report earnings of $0.28 per share on sales of $1.44 billion for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company anticipates sales to decrease in the mid to high-single digits sequentially.