NEW YORK (TheStreet) -- Shares of Chemours (CC) - Get Chemours Co. Report were surging 14.18% to $10.63 in mid-morning trading on Tuesday after reporting 2016 second-quarter earnings that beat analysts' expectations.
After yesterday's market close, the Wilmington, DE-based performance chemicals provider reported adjusted earnings of 27 cents per share, topping analysts' estimates of 17 cents per share.
But revenue fell to $1.38 billion from $1.51 billion a year ago and missed analysts' projected $1.42 billion.
"Overall, I am very pleased that we have delivered approximately $100 million in cost reductions, improved margins, improved our working capital, streamlined our portfolio and modestly improved our balance sheet in the first half of 2016," CEO Mark Vergnano said in a statement.
Chemours said it believes that full-year capital expenditures are tracking "slightly below $400 million," given the shift in the timing of the cyanide expansion.
"We have gained confidence in our ability to realize our transformation plan goals of delivering $350 million of cost reductions and $150 million in adjusted EBITDA associated with Opteon and Altamira through 2017," Vergnano added.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.
Chemours' weaknesses include its generally high debt management risk and poor profit margins.
You can view the full analysis from the report here: CC
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 article's author.