Skip to main content

NEW YORK (TheStreet) -- Shares of Calgon Carbon (CCC) - Get Free Report are down 8.8% to $14.40 on heavy trading volume late Thursday afternoon following the company's weaker-than-expected results for the 2016 first quarter.

Before the market open, the Moon Township, PA-based water and air filtration maker posted earnings of 11 cents per diluted share, which did not meet analysts' expectations of 16 cents per share.

Revenue for the period was $120.2 million, also missing analysts' estimates for $126.2 million.

Results were impacted by low natural gas prices and unseasonably warm winter weather conditions, Calgon said. 

"While we projected a slow start to the year, our first quarter results were below our expectations," CEO Randy Dearth said in a statement, "And revenues related to several municipal water carbon exchange projects shifted from the first quarter to later in the year."

About 1.15 million of the company's shares were traded by late this afternoon vs. its average volume of 447,162 shares per day.

Calgon is engaged in the manufacture, supply, reactivation and application of activated carbons and in the manufacture of ballast water treatment and ultraviolet light disinfection, and ion-exchange technologies.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels.

However, the team also finds weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CCC

Image placeholder title