Chemours (NYSE:CC) -5.3% post-market Monday after saying in an investor presentation that it’s monitoring “barely under” the low finish of its FY 2022 steering vary for adjusted EBITDA of $1.4B-$1.45B and free money movement of better than than $575M.
The chemical compounds firm mentioned demand for titanium dioxide has weakened in This fall, significantly in Europe and Asia “as the worldwide outlook grows more and more unsure.”
As anticipated, This fall seasonality and better uncooked materials and enter prices are affecting Chemours’ Thermal & Specialised Options and Superior Efficiency Supplies companies, the corporate mentioned.
Chemours (CC) mentioned it’s “taking strategic price actions with a purpose to higher place the enterprise for 2023 and past.”
Chemours (CC) closed -7.5% in Monday’s common buying and selling; shares have gained throughout the previous month on hopes China would chill out its strict COVID-19 insurance policies.