Shares of Chemours Co. rallied more than 6% in the extended session Thursday after the chemical company reported better-than-expected adjusted profit and sales, and increased its cash-flow outlook. Chemours said it earned $201 million, or $1.26 a share, in the second quarter, compared with $66 million, or 39 cents a share, in the year-ago quarter. Adjusted for one-time items, the company earned $1.89 a share. Sales rose 16% to $1.9 billion. Analysts polled by FactSet expected Chemours to report adjusted earnings of $1.41 a share on sales of $1.84 billion. Chemours said it was targeting the high end of its adjusted EBITDA guidance of between $1.475 billion and $1.575 billion. It expects free cash flow to exceed $600 million, compared with a previous guidance of more than $550 million. Chemours ended the regular trading day up 1.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.