Chemours (CC) is likely to use the $300-million proceeds from borrowings in the future for working capital needs or other general corporate purposes.

The Chemours Co. said late Friday that it was drawing $300 million from its $800 million revolving credit facility "out of an abundance of caution" amid the economic destruction wreaked by the novel coronavirus pandemic. "This action helps to balance our access to domestic and non-domestic cash, and increase our near-term financial flexibility," Chief Executive Mark Vergnano said in a statement. Repaying the $300 million will happen "when the uncertainty in the global markets subsides," the chemicals company said. Chemours confirmed it had cash and cash equivalents plus borrowing capacity around $1.6 billion as of Dec. 31. It said it had no upcoming maturities of senior debt until 2023. "While the current environment remains uncertain, we remain confident in our financial position, the strength of our businesses, and the long-term prospects for Chemours," Vergnano said. Shares of Chemours fell 1.5% in the extended session after ending the regular trading day down 3.3%.

Shares of specialty chemical company Chemours (NYSE: CC) jumped nearly 14% as trading opened for the day. Although the company's titanium coatings business did well (sales were up 10% in the segment), its other two divisions (fluoroproducts and chemical solutions) saw year-over-year sales declines.

The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, titanium technologies, and chemical solutions, announced today that the Board of Directors of Chemours declared a quarterly cash dividend of $0.25 per share on the company's common stock for the second quarter of 2020. The dividend will be paid on June 15, 2020 to stockholders of record as of the close of business on May 15, 2020.

Decline volumes in the Fluoroproducts unit and lower global average prices across all segments hurt Chemours' (CC) Q1 sales.

Moody's Investors Service, ("Moody's") assigned A3 ratings to E.I. du Pont de Nemours and Company's (EID's) proposed senior unsecured notes. Roughly half of the proceeds from the debt issuance are expected to be used to prepay a portion of the company's unfunded pension liability, leaving the company's gross adjusted leverage unchanged for this portion of the issuance, with the balance of proceeds held in cash to shore up liquidity and serving as an offset to seasonal working capital needs, which tend to be very large and peak at about $4.0 billion. The company's short-term commercial paper rating is unchanged at Prime-2.

It's been a good week for The Chemours Company (NYSE:CC) shareholders, because the company has just released its...

Ladies and gentlemen, thank you for standing by, and welcome to the Chemours Company First quarter Earnings Call. Before we start, I'd like to remind you that comments made on this call as well as the supplemental information provided in our presentation and on our website contain forward-looking statements that involve risks and uncertainties, including the impact of COVID-19 on our business and operations and the other risks and uncertainties described in the documents Chemours has filed with the SEC.

The art and science of stock market investing requires a tolerance for losing money on some of the shares you buy. But...

Moody's Investors Service ("Moody's"), downgraded The Chemours Company's (Chemours) ratings, including the CFR to Ba3 from Ba2, the secured bank facilities to Ba1 from Baa3, and the senior unsecured rating to B1 from Ba3. The outlook on the ratings remains negative, reflecting the heightened and growing level of litigation risk stemming from actions filed by states, environmental regulators, water municipalities and private plaintiffs associated with perfluorochemicals (or PFAS), a family of chemicals used for decades to process a wide range of fluoropolymers. "The downgrade reflects the growing PFAS case load, its impact on the potential ultimate liability, and other adverse developments associated with PFAS litigation" according to Joseph Princiotta, Senior Vice President at Moody's. " The downgrade also reflects profit pressures in flouroproducts and TiO2 and the resulting stress to metrics and cash flow this year," Princiotta added.

Firm's largest sales of the 1st quarter Continue reading...

The company's former parent expects to settle a dispute over retained environmental liabilities.

Chemours (CC) delivered earnings and revenue surprises of 39.22% and -2.77%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?

The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in Fluoroproducts, Chemical Solutions and Titanium Technologies, today announced that the format of this year's Annual Meeting of Shareholders (the "Annual Meeting") has been changed from in-person to virtual-only.

Q1 2020 Chemours Co Earnings Call

McIntyre Partnerships commentary for the first quarter ended March 31, 2020, discussing how the current crisis will likely impact Chemours (NYSE:CC)’s near-term earnings. Performance Review - FY 2019 Through Q1 2020, McIntyre Partnerships returned approx. -56% gross and net. This compares to S&P 500, S&P 600, and Russell 2000 returns including dividends of -20%, -33%, […]

Chemours (CC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Moody's Investors Service, ("Moody's") assigned Baa1 rating to DuPont de Nemours, Inc.'s (DuPont's) new senior unsecured notes maturing in 2023. "DuPont's new issuance will provide the financial flexibility to refinance their upcoming November maturity while maintaining a solid level of cash cushion during the coronavirus pandemic," said John Rogers, Senior Vice President at Moody's and lead analyst on DuPont.

Shares of Chemours Co. gained more than 5% in the extended session Tuesday after the chemicals company reported first-quarter profit and sales above Wall Street expectations and said it planned to cut costs amid slower demand with the coronavirus pandemic. Chemours said it earned $100 million, or 61 cents a share, in the quarter, compared with $94 million, or 55 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $118 million, or 71 cents a share, compared with 63 cents a share a year ago. Sales fell to $1.3 billion from $1.4 billion a year ago. Analysts polled by FactSet expected the company to report adjusted profit of 46 cents a share on sales of $1.3 billion. Chemours said all of its plants are operating "with minimal impact from COVID-19." To weather the slackened demand, however, the company said it aims to cut 2020 costs by $160 million and its capital expenditure plan by by $125 million to $275 million. Chemours said it had "ample" liquidity with no debt due in the near term. The company withdrew its 2020 guidance due to "current demand uncertainty, driven by COVID-19." Shares of Chemours had ended the regular trading day up nearly 12%.

The Chemours Company (Chemours) (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, titanium technologies, and chemical solutions, announced it will release first quarter 2020 financial results after market close on Tuesday, May 5, 2020. The company will conduct its first quarter 2020 webcast conference call on Wednesday, May 6, 2020 at 8:30 a.m. Eastern Standard Time. The call is open to the public and can be accessed via live webcast and teleconference.