WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Chemours Co. (CC) on Tuesday reported first-quarter profit of $52 million.
On a per-share basis, the Wilmington, Delaware-based company said it had profit of 34 cents. Earnings, adjusted for non-recurring gains, came to 32 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The chemical company posted revenue of $1.35 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.36 billion.
Chemours shares have fallen 15% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.75, a decrease of 10% in the last 12 months.
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