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Chemours (CC) delays financial results release for Q4 and full year 2023 to February 28, 2024, due to internal control evaluation and review process.
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WILMINGTON, Del.--(BUSINESS WIRE)--
The Chemours Company (“Chemours” or “the Company”) (NYSE: CC) today announced that it has postponed the release of its financial results and conference call related to the fourth quarter and full year ended December 31, 2023, which had previously been scheduled for February 14, 2024 and February 15, 2024, respectively. Chemours currently expects to issue its fourth quarter and full year 2023 financial results after market close on Wednesday, February 28, 2024. The Company currently expects to hold its webcast conference call, focused on Q&A, on Thursday, February 29, 2024, at 8:00 a.m. Eastern Standard Time. The Company also currently expects to file its Annual Report on Form 10-K for the year ended December 31, 2023 on February 29, 2024.
The Company is delaying the release of financial results and the conference call because it needs additional time to complete its year-end reporting process. The Company is evaluating its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to information and communications. The Company’s Audit Committee also needs additional time to complete a related internal review.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products are sold under prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,600 employees and 29 manufacturing sites serving approximately 2,900 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized, such as full year guidance relying on models based upon management assumptions regarding future events that are inherently uncertain. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Matters outside our control, including general economic conditions, geopolitical conditions and global health events, have affected or may affect our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains such as through strikes, labor disruptions or other events, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2022 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
NEWS MEDIA
Cassie Olszewski
Corporate Media & Brand Reputation Leader
+1.302.219.7140
media@chemours.com
Source: The Chemours Company
FAQ
Why did Chemours delay the release of its financial results for Q4 and full year 2023?
Chemours postponed the release to February 28, 2024, as it needs additional time to complete its year-end reporting process and evaluate internal controls.
When will Chemours issue its financial results for Q4 and full year 2023?
Chemours expects to release its financial results after market close on February 28, 2024.
What is the new date for Chemours' webcast conference call focused on Q&A for Q4 and full year 2023?
The webcast conference call is scheduled for Thursday, February 29, 2024, at 8:00 a.m. Eastern Standard Time.
When will Chemours file its Annual Report on Form 10-K for the year ended December 31, 2023?
Chemours plans to file its Annual Report on Form 10-K on February 29, 2024.
What is the reason behind Chemours delaying the release of financial results and conference call?
Chemours is delaying to complete its internal control evaluation and related internal review by the Audit Committee.
