Chemours posts sharp increases in quarterly, annual results

Chemours, the previous efficiency chemical compounds unit of Dupont Co., is reporting internet revenue of $228 million for its most up-to-date quarter.

That is an enormous swing from the $230 million loss Chemours reported within the fourth quarter of 2016, which included a one-time $335 million cost to settle hundreds of lawsuits over the discharge of a chemical utilized in Teflon manufacturing from a DuPont plant in West Virginia a number of years in the past.

The corporate on Wednesday additionally reported internet revenue for the complete yr of $746 million, in comparison with internet revenue of $7 million in 2016.

Chemours attributed the development in monetary outcomes primarily to greater costs and elevated quantity throughout all companies, partially offset by greater spending on company restructuring, efficiency-based mostly compensation, and sure greater uncooked materials prices.

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