Corrects headline and first Overview bullet to say the company swung to net loss, not net loss widened
Overview
U.S. chemicals and real estate firm's Q4 revenue rose 3% yr/yr, swung to net loss
Company posted Q4 operating loss, driven by lower TiO2 prices and reduced production rates
Net loss includes non-cash tax expense and workforce reduction costs in Chemicals segment
Outlook
Company did not provide specific guidance or forecasts for the current or future periods in press release
Result Drivers
LOWER TiO2 PRICES - Chemicals segment sales and operating income fell due to lower average TiO2 selling prices
REDUCED PRODUCTION RATES - Higher unabsorbed fixed production costs from lower operating rates at Chemicals segment facilities weighed on results
WORKFORCE REDUCTION COSTS - Chemicals segment incurred costs related to workforce reduction initiatives
Company press release: ID:nGNX5MsHSC
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
$494.5 mln
Q4 EPS
-$1.86
Q4 Net Income
-$63.3 mln
Q4 Operating Income
-$30.9 mln
Q4 Pretax Profit
-$81.7 mln
Analyst Coverage
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 4 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)