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Chemours (CC) Boosts Low GWP HFC-152a Production by 20%
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The Chemours Company (CC - Free Report) stated that it is boosting the production of HFC-152a by approximately 20%, reinforcing its commitment to meet customer demands for lower global warming potential (GWP) propellants and foam-blowing agents. This expansion will address the need for lower GWP solutions and lower volatile organic compounds (VOCs) in various consumer products. The increased capacity, set to be realized at the Ingleside, TX manufacturing facility by mid-2024, supports the burgeoning demand for thermal insulation foam products.
HFC-152a, a versatile, low GWP, non-VOC aerosol propellant and foam-blowing agent, is used across personal care, household, industrial and construction sectors. As the exclusive U.S. supplier of HFC-152a, Chemours' capacity enhancement underscores its commitment to offering long-term reliability in a dynamic regulatory environment. This move facilitates the availability of diverse products, ranging from adhesives and lubricant oils to hair care and body spray items and thermal insulating foams. Sold as FormacelZ-2 in the foam-blowing agent market and HP 152a in the aerosol propellant market, Chemours HFC-152a addresses the evolving landscape of regulations and ensures a consistent, high-performance solution for aerosol formulators and insulating foam producers.
The company emphasized its dedication to assisting customers in meeting regulatory requirements while minimizing environmental impact. This investment reflects CC’s ongoing commitment to develop solutions like HFC-152a, along with other low GWP alternatives, to meet customers’ needs and uphold environmental responsibility.
Shares of Chemours are down 19.8% in the past year compared with the industry’s fall of 17.5%.
Image Source: Zacks Investment Research
In the third quarter of 2023, Chemours reported adjusted earnings of 64 cents per share, lagging the Zacks Consensus Estimate of 77 cents. The company's net sales in the quarter were $1,487 million, down 16% year over year and missing the Zacks Consensus Estimate of $1,543.1 million.
Chemours adjusted its 2023 guidance, lowering the expected adjusted EBITDA to $1.025-$1.075 billion from the previous outlook of $1.100-$1.175 billion. Additionally, the company anticipates an adjusted free cash flow of over $225 million, including approximately $400 million in capital expenditures.
The consensus estimate for CRS’s current fiscal year earnings is pegged at $3.57, indicating year-over-year growth of 213.2%. CRS beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have surged 68.8% in the past year.
The Zacks Consensus Estimate for ANDE’s current-year earnings has been revised 8.6% upward in the past 60 days. Andersons beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.8% on average. ANDE’s shares have rallied around 38.2% in a year.
The consensus estimate for Linde’s current fiscal year earnings is pegged at $14.11, indicating year-over-year growth of 14.8%. LIN beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 5.7%. The company’s shares have increased 21.4% in the past year.
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Chemours (CC) Boosts Low GWP HFC-152a Production by 20%
The Chemours Company (CC - Free Report) stated that it is boosting the production of HFC-152a by approximately 20%, reinforcing its commitment to meet customer demands for lower global warming potential (GWP) propellants and foam-blowing agents. This expansion will address the need for lower GWP solutions and lower volatile organic compounds (VOCs) in various consumer products. The increased capacity, set to be realized at the Ingleside, TX manufacturing facility by mid-2024, supports the burgeoning demand for thermal insulation foam products.
HFC-152a, a versatile, low GWP, non-VOC aerosol propellant and foam-blowing agent, is used across personal care, household, industrial and construction sectors. As the exclusive U.S. supplier of HFC-152a, Chemours' capacity enhancement underscores its commitment to offering long-term reliability in a dynamic regulatory environment. This move facilitates the availability of diverse products, ranging from adhesives and lubricant oils to hair care and body spray items and thermal insulating foams. Sold as FormacelZ-2 in the foam-blowing agent market and HP 152a in the aerosol propellant market, Chemours HFC-152a addresses the evolving landscape of regulations and ensures a consistent, high-performance solution for aerosol formulators and insulating foam producers.
The company emphasized its dedication to assisting customers in meeting regulatory requirements while minimizing environmental impact. This investment reflects CC’s ongoing commitment to develop solutions like HFC-152a, along with other low GWP alternatives, to meet customers’ needs and uphold environmental responsibility.
Shares of Chemours are down 19.8% in the past year compared with the industry’s fall of 17.5%.
Image Source: Zacks Investment Research
In the third quarter of 2023, Chemours reported adjusted earnings of 64 cents per share, lagging the Zacks Consensus Estimate of 77 cents. The company's net sales in the quarter were $1,487 million, down 16% year over year and missing the Zacks Consensus Estimate of $1,543.1 million.
Chemours adjusted its 2023 guidance, lowering the expected adjusted EBITDA to $1.025-$1.075 billion from the previous outlook of $1.100-$1.175 billion. Additionally, the company anticipates an adjusted free cash flow of over $225 million, including approximately $400 million in capital expenditures.
The Chemours Company Price and Consensus
The Chemours Company price-consensus-chart | The Chemours Company Quote
Zacks Rank & Key Picks
Chemours currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Carpenter Technology Corporation (CRS - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and The Andersons Inc. (ANDE - Free Report) and Linde plc (LIN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for CRS’s current fiscal year earnings is pegged at $3.57, indicating year-over-year growth of 213.2%. CRS beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have surged 68.8% in the past year.
The Zacks Consensus Estimate for ANDE’s current-year earnings has been revised 8.6% upward in the past 60 days. Andersons beat the Zacks Consensus Estimate in each of the last four quarters. It delivered a trailing four-quarter earnings surprise of 32.8% on average. ANDE’s shares have rallied around 38.2% in a year.
The consensus estimate for Linde’s current fiscal year earnings is pegged at $14.11, indicating year-over-year growth of 14.8%. LIN beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 5.7%. The company’s shares have increased 21.4% in the past year.