Chemours (CC) Announces Enhancement of EVOLVE 2030 Methodology

Zacks Equity Research
·3-min read

The Chemours Company CC recently announced EVOLVE 2030 Version 2.0, the company's portfolio sustainability evaluation methodology. It assists Chemours in assessing its product offerings and development pipeline in reference to the United Nations Sustainable Development Goals (UN SDGs).

The evaluation criteria help Chemours demonstrate progress toward its 2030 Corporate Responsibility Commitment target of generating 50% or more of its revenues from offerings that specifically contribute to the UN SDGs. The enhanced methodology now includes considerations for product and packaging circularity, as well as insights gathered from Chemours' four-year experience with the methodology.

EVOLVE 2030 methodology utilizes sustainability data and insights to guide product portfolio decisions, innovation initiatives and resource allocation. This data-driven, science-based and holistic methodology is intended to maximize the favorable impact of Chemours' products on society while minimizing their environmental footprint.

Chemours is driven by a strong commitment to sustainability. The revised EVOLVE 2030 approach improves Chemours' ability to integrate its business processes with this goal, allowing it to better measure the societal and environmental implications of its products and steer its decisions appropriately.

Established in 2019, EVOLVE 2030 is based on the World Business Council for Sustainable Development's Chemical Industry Methodology for Portfolio Sustainability Assessments. Chemours assesses its offerings using a Product-Application Combination methodology, which takes into account a product's advantages and burdens throughout its life cycle, including its contribution to the UN SDGs. Chemours is increasing its resolve to guide its product range toward a more sustainable future by assessing its products' contributions to the UN SDGs as well as their overall impact on society and the environment.

Shares of Chemours have lost 29.8% over the past year compared with a 5.1% decline of its industry.

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On its first-quarter call, CC said that it expects its Titanium Technologies unit to achieve sequential net sales growth of around 15% in the second quarter of 2024, reflecting the earlier communicated improvement in its TiO2 order book. Adjusted EBITDA growth is forecast to be in line with the growth in net sales. Higher volumes and improved fixed cost absorption are projected to be partly offset by the shift in the timing of higher-cost ore consumption, much of which is expected for the second quarter.

For the second quarter, Chemours expects consolidated net sales to rise around 15% sequentially. Consolidated adjusted EBITDA is expected to increase roughly 15% from the prior quarter.

The Chemours Company Price and Consensus

The Chemours Company price-consensus-chart | The Chemours Company Quote

Zacks Rank & Key Picks

Chemours currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the basic materials space include ATI Inc. ATI, Carpenter Technology Corporation CRS and Ecolab Inc. ECL.

ATI carries a Zacks Rank #2 (Buy). ATI beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 8.3%. The company’s shares have soared 56.7% in the past year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.1%. The company’s shares have soared 112.7%% in the past year.

The Zacks Consensus Estimate for Ecolab’s current-year earnings is pegged at $6.56 per share, indicating a year-over-year rise of 25.9%. ECL, a Zacks Rank #2 stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 1.3%. The company’s shares have rallied roughly 38.1% in the past year.

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Ecolab Inc. (ECL) : Free Stock Analysis Report

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