The Chemours Company (NYSE:CC) shares are sliding today as the company lowered its full-year guidance.
CC now expects adjusted EBITDA to land between $1.4 billion and $1.45 billion (which is 7% lower than the earlier guidance at the midpoint).
The development comes owing to a slowdown in demand in the company’s Titanium Technologies segment. The impact has been more pronounced in Europe and Asia.
Analysts expect the company to post an EPS of $1.29 for the third quarter. In the year-ago period, it had delivered an EPS of $1.27 versus the Street’s expectations of $1.01.
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