CHEMOURS COMPANY Reports 14.2% Decrease in Revenue for Fiscal Year 2023 Q2
August 1, 2023
🌥️Earnings Overview
The Chemours Company ($NYSE:CC) reported earnings results for the fiscal year 2023 second quarter on July 28 2023, with total revenue of USD 1643.0 million, a drop of 14.2% compared to the same quarter in the previous year. Net income for the quarter was USD -376.0 million, which marked a significant decrease from the USD 201.0 million reported in the same quarter of the prior year.
Analysis
The GoodWhale has conducted an analysis of the fundamentals of CHEMOURS COMPANY and has determined that it is a medium risk investment in terms of financial and business aspects. Despite this, it has been identified that there are two risk warnings in the balance sheet which should not be ignored and are not related to the financial aspect. To gain access to this information, you should register with GoodWhale to ensure you fully understand these warnings and can make an informed decision. Overall, CHEMOURS COMPANY may not be a bad investment and there are many indicators that point to it being a sound choice. However, it is important to take into account all of the risk warnings that GoodWhale has identified in order to make a safe and responsible investment. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Chemours Company. More…
| Total Revenues | Net Income | Net Margin |
| 6.29k | -87 | -1.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Chemours Company. More…
| Operations | Investing | Financing |
| 403 | -296 | -511 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Chemours Company. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.66k | 6.85k | 5.45 |
Key Ratios Snapshot
Some of the financial key ratios for Chemours Company are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.0% | -40.2% | 2.3% |
| FCF Margin | ROE | ROA |
| 1.8% | 8.7% | 1.2% |
Peers
The Chemours Co, Green Earth Institute Co Ltd, Mitsui Chemicals Inc, and AlzChem Group AG are all competitors in the chemical industry. Chemours is a holding company that produces chemicals and related products, while Green Earth is a research institute focused on developing environmentally friendly alternatives to traditional chemicals. Mitsui Chemicals is a Japanese company that produces a wide variety of chemicals, while AlzChem Group is a German company specializing in inorganic and specialty chemicals.
– Green Earth Institute Co Ltd ($TSE:9212)
Green Earth Institute Co Ltd is a company that focuses on environmental protection. It has a market cap of 6.98B as of 2022 and a Return on Equity of -20.43%. The company has been struggling financially in recent years, which is reflected in its ROE. However, it remains committed to its environmental protection mission.
– Mitsui Chemicals Inc ($TSE:4183)
Mitsui Chemicals Inc. is a Japanese chemical company with a market cap of 530.73B as of 2022. The company has a Return on Equity of 12.55%. Mitsui Chemicals Inc. is engaged in the manufacture and sale of chemicals and plastics. The company’s products include polymers, resins, films, fibers, and other chemicals. Mitsui Chemicals Inc. has operations in Japan, Asia, Europe, and the Americas.
– AlzChem Group AG ($LTS:0ACT)
AlzChem Group AG is a German chemical company with a market cap of 152.04M as of 2022. The company has a Return on Equity of 20.28%. AlzChem Group AG produces specialty chemicals for the pharmaceutical, agrochemical, and polymer industries. The company was founded in 1894 and is headquartered in Trostberg, Germany.
Summary
CHEMOURS COMPANY reported its second quarter fiscal year 2023 earnings results on July 28th, with total revenue of USD 1643.0 million, down 14.2% from the prior year. Net income for the quarter was reported as USD -376.0 million, compared to USD 201.0 million in the prior year. The stock price fell on the same day. For investors looking to take a position in CHEMOURS COMPANY, it is important to consider the company’s current financial standing and the outlook for future performance. With the substantial drop in revenue and net income, investors may want to proceed with caution and assess further before investing in the company.
Additionally, it is important to consider any upcoming news or events that may affect the company’s performance.
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