Chemours (CC) FY2019 results: revenue $5.5 billion, down 16.8% on the year
Chemours Co. (CC) reported revenue of $5.5 billion for fiscal 2019, the year ended 31 December 2019, down 16.8% on the year before. Net income was -$52 million, and diluted earnings per share $-0.32. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$5.5 billion
-16.8% on the year
FY2013FY2019
Operating margin
6.3%
17.8% a year earlier
FY2013FY2019
Net income
-$52 million
FY2013FY2019
Diluted EPS
-$0.32
FY2013FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,526
6,638
6,183
-16.8%
Cost of revenue
4,463
4,667
4,438
-4.4%
Gross profit
1,063
1,971
1,745
-46.1%
Gross margin
19.2%
29.7%
28.2%
Research and development
80.0
82.0
81.0
-2.4%
Selling, general and administrative
548
657
626
-16.6%
Operating income
348
1,183
981
-70.6%
Operating margin
6.3%
17.8%
15.9%
Interest expense
208
195
214
+6.7%
Pre-tax income
-124
1,155
912
Income tax
-72.0
159
165
Effective tax rate
n/a
13.8%
18.1%
Net income
-52.0
995
746
Net margin
-0.9%
15.0%
12.1%
Diluted EPS
-$0.32
$5.45
$3.91
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
650
1,140
639
-43.0%
Capital expenditure
481
498
411
-3.4%
Free cash flow
169
642
228
-73.7%
Free cash flow margin
3.1%
9.7%
3.7%
Cash from investing
-483
-487
-370
Cash from financing
-419
-993
352
Depreciation and amortisation
311
284
273
+9.5%
Share-based compensation
19.0
24.0
29.0
-20.8%
Buybacks
322
644
106
-50.0%
Dividends paid
164
148
22.0
+10.8%
Dividend per share
$1.00
$0.67
$0.29
+49.3%
Diluted shares, weighted
165m
183m
191m
-9.7%
Shares outstanding at period end
164m
171m
183m
-4.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
689
1,014
860
-32.1%
Non-controlling interest
6.0
6.0
5.0
0.0%
Debt
4,160
3,959
4,112
+5.1%
Operating lease liabilities
245
n/a
n/a
Finance lease liabilities
54.0
n/a
n/a
Other liabilities
2,104
2,383
2,316
-11.7%
Total liabilities and equity
7,258
7,362
7,293
-1.4%
Fixed assets
3,559
3,291
3,008
+8.1%
Goodwill
153
n/a
153
Intangible assets
21.0
28.0
13.0
-25.0%
Cash and equivalents
943
1,201
1,556
-21.5%
Receivables
602
790
847
-23.8%
Inventory
1,079
1,147
935
-5.9%
Other assets
901
905
781
-0.4%
Total assets
7,258
7,362
7,293
-1.4%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.