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Chemours (CC) Closes Mining Solutions Unit Sale to Draslovka
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The Chemours Company (CC - Free Report) recently completed the sale of its Mining Solutions business to Draslovka Holding a.s., a Czech Republic-based private company specializing in cyanide production.
Chemours noted that the sale of the Mining Solutions unit enables it to focus on the growth of its three principal businesses besides bolstering its balance sheet and shareholder returns. The transaction is expected to speed up the ongoing transformational strategies that will boost earnings and increase financial flexibility. The company seeks to follow a disciplined capital allocation for a balanced approach to value creation.
Chemours shares have jumped 11.1% over the past year compared with the industry’s 12.2% rise. The company’s estimated earnings growth rate for the current year is pegged at 105.1%.
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Chemours, on its third-quarter call, raised expectations for full-year 2021 on the back of its strong third-quarter performance. It now sees adjusted EBITDA in the range of $1,300-$1,340 million compared with the prior guidance in the top end of the $1,100-$1,250 million range.
The company also expects adjusted earnings per share in the band of $3.93-$4.13 compared with the prior guidance in the top end of the $2.84-$3.56 range.
Free cash flow for 2021 is now forecast to be more than $500 million, up from prior guidance of above $450 million.
Univar has an expected earnings growth rate of 55.2% for the current year. The Zacks Consensus Estimate for the current year has been revised 9% upward over the past 60 days.
Univar beat the Zacks Consensus Estimate for earnings in all the four trailing quarters with an earnings surprise of 24.1%, on average. UNVR’s shares have risen 42.7% over a year.
AdvanSix has an expected earnings growth rate of 197% for the current year. The Zacks Consensus Estimate for the current year has been revised 14.1% upward over the last 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in all the four trailing quarters with an earnings surprise of 47%, on average. ASIX’s shares have also surged 125.4% over a year.
Celanese has an expected earnings growth rate of 139.7% for the current year. The Zacks Consensus Estimate for the current year has been revised 9.1% upward over the last 60 days.
Celanese beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters and pulled off an earnings surprise of 12.7%, on average. Shares of CE have rallied around 18.2% over a year.
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Chemours (CC) Closes Mining Solutions Unit Sale to Draslovka
The Chemours Company (CC - Free Report) recently completed the sale of its Mining Solutions business to Draslovka Holding a.s., a Czech Republic-based private company specializing in cyanide production.
Chemours noted that the sale of the Mining Solutions unit enables it to focus on the growth of its three principal businesses besides bolstering its balance sheet and shareholder returns. The transaction is expected to speed up the ongoing transformational strategies that will boost earnings and increase financial flexibility. The company seeks to follow a disciplined capital allocation for a balanced approach to value creation.
Chemours shares have jumped 11.1% over the past year compared with the industry’s 12.2% rise. The company’s estimated earnings growth rate for the current year is pegged at 105.1%.
Chemours, on its third-quarter call, raised expectations for full-year 2021 on the back of its strong third-quarter performance. It now sees adjusted EBITDA in the range of $1,300-$1,340 million compared with the prior guidance in the top end of the $1,100-$1,250 million range.
The company also expects adjusted earnings per share in the band of $3.93-$4.13 compared with the prior guidance in the top end of the $2.84-$3.56 range.
Free cash flow for 2021 is now forecast to be more than $500 million, up from prior guidance of above $450 million.
The Chemours Company Price and Consensus
The Chemours Company price-consensus-chart | The Chemours Company Quote
Zacks Rank & Other Key Picks
Chemours currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks from the basic materials space include Univar Solutions Inc. and AdvanSix Inc. (ASIX - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Celanese Corporation (CE - Free Report) , carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Univar has an expected earnings growth rate of 55.2% for the current year. The Zacks Consensus Estimate for the current year has been revised 9% upward over the past 60 days.
Univar beat the Zacks Consensus Estimate for earnings in all the four trailing quarters with an earnings surprise of 24.1%, on average. UNVR’s shares have risen 42.7% over a year.
AdvanSix has an expected earnings growth rate of 197% for the current year. The Zacks Consensus Estimate for the current year has been revised 14.1% upward over the last 60 days.
AdvanSix beat the Zacks Consensus Estimate for earnings in all the four trailing quarters with an earnings surprise of 47%, on average. ASIX’s shares have also surged 125.4% over a year.
Celanese has an expected earnings growth rate of 139.7% for the current year. The Zacks Consensus Estimate for the current year has been revised 9.1% upward over the last 60 days.
Celanese beat the Zacks Consensus Estimate for earnings in all of the four trailing quarters and pulled off an earnings surprise of 12.7%, on average. Shares of CE have rallied around 18.2% over a year.