WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Chemours Co. (CC) on Tuesday reported a first-quarter loss of $4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Wilmington, Delaware-based company said it had a loss of 3 cents. Earnings, adjusted for non-recurring costs, were 13 cents per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The chemical company posted revenue of $1.37 billion in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $1.36 billion.
Chemours shares have fallen 28% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.10, a fall of 56% in the last 12 months.
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