The Chemours Company (CC - Free Report) has recently announced its collaboration with Carrier Transicold Europe, based in Rueil-Malmaison, France. The move is aimed at specifying and adopting an Opteon XL low global warming potential (GWP) hydrofluoroolefin (HFO) refrigerant for replacing R-452A in transport refrigeration in 2021.
Opteon XL HFO refrigerants are the lowest GWP and long-term alternatives under F-Gas regulation for transport refrigeration. The refrigerants reduce carbon dioxide emissions by up to 85% compared with R-452A. The parties are actively involved and working closely with research groups and regulatory bodies to support the use of Opteon XL refrigerants through designing of proper equipment and training based on applicable standards and codes.
Opteon low GWP HFO refrigerants are a portfolio of versatile and sustainable refrigerants, which addresses the long-term needs of refrigeration, heat pump, air conditioning and chiller markets.
They are developed to aid the increasingly stringent global regulations and simultaneously improve performance. They encourage more sustainable equipment designs and refrigerant choices for reducing carbon footprint.
Chemours’ shares have plunged around 52.5% over a year compared with the 32.3% decline of the industry.
Chemours’ adjusted earnings came in at 63 cents per share in the first quarter, which lagged the Zacks Consensus Estimate of 93 cents.
The company anticipates TiO2 markets to stabilize in the second half of 2019. It expects demand for Ti-Pure pigment to return to more normalized levels based on improving underlying market conditions in the second half. The company is committed to execute its strategy including the installation of the Ti-Pure Value Stabilization framework across its entire customer base and driving the adoption of Opteon.
Zacks Rank & Key Picks
Chemours currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Materion Corporation (MTRN - Free Report) , Fortescue Metals Group Ltd. (FSUGY - Free Report) and AngloGold Ashanti Limited (AU - Free Report) , all currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Materion has an expected earnings growth rate of 16.4% for 2019. The company’s shares have gained 19.7% in the past year.
Fortescue Metals has an expected earnings growth rate of 101.5% for the current year. The company’s shares have surged 51.9% in a year’s time.
AngloGold has an expected earnings growth rate of 86.8% for 2019. Its shares have rallied 36% in a year’s time.
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