WILMINGTON, Del. (AP) — Chemours Co. (CC) on Thursday reported a fourth-quarter loss of $317 million, after reporting a profit in the same period a year earlier.
The Wilmington, Delaware-based company said it had a loss of $1.94 per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The chemical company posted revenue of $1.35 billion in the period.
For the year, the company reported a loss of $52 million, or 32 cents per share, swinging to a loss in the period. Revenue was reported as $5.53 billion.
Chemours expects full-year earnings in the range of $2.60 to $3.55 per share.
Chemours shares have declined 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.70, a decrease of 59% in the last 12 months.