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Last $27.43 USD
Change Today -0.30 / -1.08%
Volume 495.3K
CHMT On Other Exchanges
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As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

chemtura corp (CHMT) Key Developments

Chemtura Corporation Reports Unaudited Condensed Consolidated Earnings Results for the Second Quarter Ended June 30, 2015

Chemtura Corporation reported unaudited condensed consolidated earnings results for the second quarter ended June 30, 2015. For the quarter, the company has posted net sales of $464 million against $609 million a year ago. Operating income was $44 million against $52 million a year ago. Earnings from continuing operations were $18 million against $43 million a year ago. Diluted earnings from continuing operations were $0.26 against $0.46 a year ago. Adjusted EBITDA was $61 million against $91 million a year ago. Net cash provided by operating activities was $53 million against $18 million a year ago. Total debt was $517 million as of June 30, 2015 compared with $574 million as of December 31, 2014. The decrease was primarily due to a repayment of $42 million on Term Loan and a $15 million repayment of China Bank Facility. Capital expenditures for the second quarter of 2015, the second quarter of 2014 and the first quarter of 2015 were $19 million, $25 million and $13 million, respectively. The decrease from the second quarter of 2014 primarily related to lower spending on capital projects at Nantong, China and Hyeongok (Daystar), South Korea facilities. Earnings were $18 million against $43 million a year ago.

Chemtura Corporation to Report Q2, 2015 Results on Jul 29, 2015

Chemtura Corporation announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Jul 29, 2015

Chemtura Corporation, Q2 2015 Earnings Call, Jul 30, 2015

Chemtura Corporation, Q2 2015 Earnings Call, Jul 30, 2015

Chemtura Considers Strategic Options

Chemtura Corporation (NYSE:CHMT) is mulling strategic options, including sale. Chairman and Chied Executive Officer Craig Rogerson said, “There is a lot of interest in the company and the portfolio, The reality is you create value on a higher probability basis selling than buying right now with the multiples that are out in the market place.” The company may end up taking a “complex” route to selling itself with some potential buyers interested in specific assets, Rogerson added. A formal sale process may develop should Chemtura get a commitment for one part of the company and need to solicit buyers for the rest, Rogerson said. Susie Huang from Morgan Stanley (NYSE:MS) acted as advisor for Chemtura.

Chemtura Corporation Presents at Cowen and Company Chemicals Summit, Jun-09-2015

Chemtura Corporation Presents at Cowen and Company Chemicals Summit, Jun-09-2015 . Venue: W Hotel, 541 Lexington Ave, New York, New York, United States. Speakers: Matthew Sokol, Director of Investor Relations and Corporate Development.

 

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