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Chemours (CC) Evaluates Capacity Investments for Hydrogen Economy
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The Chemours Company (CC - Free Report) announced that it is exploring capacity investments to support its growing Hydrogen Economy business. The higher ionomers capacity would support demand growth within water electrolysis and fuel cell technology.
Chemours is considering potential locations in the United States and Europe, looking to local community engagement and collaboration. It continues to set the standard in responsible production. The capacity will help it advance its goal to continue transitioning the portfolio to sustainable offerings that make a specific contribution to achieving the United Nations Sustainable Development Goals.
The capacity investment is expected to be focused on ionomers which support the Nafion platform, known for unparalleled performance and durability. Nafion ion exchange membranes offer a clean energy solution by creating green hydrogen from renewable power through water electrolysis.
Shares of Chemours have gained 17.7% in the past year against a 5.1% decline of the industry.
Image Source: Zacks Investment Research
Chemours, in its last earnings call, stated that it sees adjusted EBITDA in the range of $1.475-$1.575 billion for 2022, up from $1.3-$1.425 billion expected earlier.
Free cash flow for 2022 is now forecast to be more than $550 million, up from the $500 million expected earlier.
Some other top-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and Cabot Corporation (CBT - Free Report) .
Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 10.9% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.2% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 27.5% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 50.5% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 19.1% over a year.
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Chemours (CC) Evaluates Capacity Investments for Hydrogen Economy
The Chemours Company (CC - Free Report) announced that it is exploring capacity investments to support its growing Hydrogen Economy business. The higher ionomers capacity would support demand growth within water electrolysis and fuel cell technology.
Chemours is considering potential locations in the United States and Europe, looking to local community engagement and collaboration. It continues to set the standard in responsible production. The capacity will help it advance its goal to continue transitioning the portfolio to sustainable offerings that make a specific contribution to achieving the United Nations Sustainable Development Goals.
The capacity investment is expected to be focused on ionomers which support the Nafion platform, known for unparalleled performance and durability. Nafion ion exchange membranes offer a clean energy solution by creating green hydrogen from renewable power through water electrolysis.
Shares of Chemours have gained 17.7% in the past year against a 5.1% decline of the industry.
Image Source: Zacks Investment Research
Chemours, in its last earnings call, stated that it sees adjusted EBITDA in the range of $1.475-$1.575 billion for 2022, up from $1.3-$1.425 billion expected earlier.
Free cash flow for 2022 is now forecast to be more than $550 million, up from the $500 million expected earlier.
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).
Some other top-ranked stocks in the basic materials space are Allegheny Technologies Inc. (ATI - Free Report) , Nutrien Ltd. (NTR - Free Report) and Cabot Corporation (CBT - Free Report) .
Allegheny has a projected earnings growth rate of 869.2% for the current year. The Zacks Consensus Estimate for ATI's current-year earnings has been revised 27.3% upward in the past 60 days.
Allegheny’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 128.9%, on average. ATI has gained around 10.9% in a year and currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Nutrien has a projected earnings growth rate of 163.2% for the current year. The Zacks Consensus Estimate for NTR’s current-year earnings has been revised 27.5% upward in the past 60 days.
Nutrien’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 5.8%. NTR has gained 50.5% in a year. The company flaunts a Zacks Rank #1.
Cabot, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 21.5% for the current year. The Zacks Consensus Estimate for CBT's earnings for the current year has been revised 5.2% upward in the past 60 days.
Cabot’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average being 16.2%. CBT has gained around 19.1% over a year.