Chemours Expects Q1 Consolidated Net Sales To Be Flat To Slightly Down Sequentially
Portfolio Pulse from Benzinga Newsdesk
Chemours anticipates its Q1 2024 consolidated net sales to be flat or slightly down from the previous quarter, with a 10% sequential decline in TT Net Sales due to reduced TiO2 demand. However, TSS is expected to see a 20% growth in both Net Sales and Adjusted EBITDA. Overall, the company forecasts a 10% decrease in consolidated Adjusted EBITDA compared to Q4 2023.
March 27, 2024 | 9:39 pm
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Chemours expects a mixed Q1 2024 performance with flat to slightly down consolidated net sales, a 10% decline in TT Net Sales due to weaker TiO2 demand, a 20% growth in TSS Net Sales and Adjusted EBITDA, and a 10% decrease in overall Adjusted EBITDA compared to Q4 2023.
The mixed outlook for Chemours in Q1 2024, with both declines and growth in different segments, suggests a neutral short-term impact on its stock price. The expected growth in TSS could offset concerns about the decline in TT Net Sales and overall Adjusted EBITDA, leading to a neutral score.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100