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chemtura corp (CEMJQ) Snapshot

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0.0
EPS TTM
$-0.54
Shares Outstanding
242.9M
EX-Date
10/30/08
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Current Stock Chart for CHEMTURA CORP (CEMJQ)

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chemtura corp (CEMJQ) Details

Chemtura Corporation, together with its subsidiaries, develops, manufactures, and markets performance-driven engineered specialty chemicals primarily for industrial manufacturing customers. The company’s Industrial Performance Products segment offers synthetic base-stocks and petroleum additives that enable engine and machine protection through friction reduction, thermal and oxidative stabilization, detergency, corrosion inhibition, and wear protection in transportation and industrial lubricating fluids and greases; and synthetic finished lubricants and greases for aviation, marine, refrigeration, power generation, and general industrial applications. This segment also provides thermoset and thermoplastic urethane polymers that are engineered to provide performance properties in a range of industrial and recreational applications; and polyester polyols for cast polyurethane pre-polymers, flexible polyurethane foams, and water-based polyurethane dispersions for use in various coatings, such as wood floor finishes, glass fiber coatings, and textile treatments. Its Industrial Engineered Products segment offers catalyst components; surface treatments; flame retardants and a bromine based product line used as agricultural and pharmaceutical intermediates; completion fluids for oil and gas extraction; and mercury control products for coal fired power stations. The company serves various industries, such as automotive, construction, electronics, lubricants, packaging, durable and non-durable goods plastics, and transportation. The company was founded in 1900 and is headquartered in Philadelphia, Pennsylvania.

3,300 Employees
Last Reported Date: 02/24/14
Founded in 1900

chemtura corp (CEMJQ) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $524.0K
Executive Vice President of Supply Chain & Op...
Total Annual Compensation: $438.5K
Executive Vice President, General Counsel and...
Total Annual Compensation: $410.9K
Executive Vice President of Support Services
Total Annual Compensation: $372.0K
Compensation as of Fiscal Year 2013.

chemtura corp (CEMJQ) Key Developments

Chemtura Mulls Acquisitions

Chemtura Corporation (NYSE:CHMT) is looking for acquisitions. Craig Rogerson, Chief Executive Officer of Chemtura Corporation said, "If Chemtura built the business organically, it would take a lot of time. Any growth would have to be achieved through acquisitions."

Chemtura Corporation to Redeem Outstanding 2018 Notes on December 1, 2014

Chemtura Corporation issued a conditional notice of redemption to holders of its outstanding 7.875% Senior Notes due 2018 that the company will redeem all of its outstanding 2018 Notes on December 1, 2014. The redemption price for the 2018 Notes will be 103.938% of the principal amount of the 2018 Notes, plus accrued and unpaid interest thereon to, but not including, the redemption date in accordance with the provisions of the indenture governing the 2018 Notes. The notice of redemption was conditioned upon (i) the completion of the sale of the company's agrochemicals business, Chemtura AgroSolutions, to Platform Specialty Products Corporation and (ii) the receipt of net proceeds from the AgroSolutions Sale in an amount at least equal to the aggregate redemption price of the 2018 Notes, referred to collectively as the 'Chemtura AgroSolutions Sale Condition'. The company reserves the right to waive any or all components of the Chemtura AgroSolutions Sale Condition in its sole discretion. In the company's discretion, the redemption date may not occur or the notice of the redemption may be rescinded or be amended to (i) delay the redemption date in the event that the Chemtura AgroSolutions Sale Condition shall not have been satisfied by the redemption date, or by the redemption date as so delayed, and (ii) reduce the aggregate principal amount of 2018 Notes to be redeemed in the event that the net proceeds from the AgroSolutions Sale are insufficient to redeem all outstanding 2018 Notes.

Chemtura Corporation Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Tax Rate Guidance for 2014 and Earnings Guidance for the Fourth Quarter of 2014

Chemtura Corporation announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, net sales were $558 million, compared to $569 million a year ago. Operating income was $35 million, compared to $27 million a year ago. Earnings from continuing operations before income taxes was $27 million, compared to loss of $41 million a year ago. Earnings from continuing operations was $15 million or $0.17 per diluted share, compared to loss of $44 million or $0.45 per diluted share a year ago. Net earnings was $15 million or $0.17 per diluted share, compared to loss of $40 million or $0.41 per diluted share a year ago. Net earnings from continuing operations for the third quarter of 2014 was $15 million, or $0.17 per diluted share, compared with a loss of $44 million, or $0.45 per diluted share, for the third quarter of 2013. Net cash provided by operating activities for the third quarter of 2014 was $9 million as compared with $136 million for the third quarter of 2013. Capital expenditures for the third quarters of 2014 and 2013 were $30 million and $37 million, respectively. Adjusted EBITDA was $59 million, compared to $59 million a year ago. Adjusted EPS was $0.20, up from $0.10 a year ago. For the nine months, net sales were $1,723 million, compared to $1,687 million a year ago. Operating income was $109 million, compared to $74 million a year ago. Earnings from continuing operations before income taxes was $78 million, compared to loss of $11 million a year ago. Earnings from continuing operations was $68 million or $0.72 per diluted share, compared to loss of $35 million or $0.36 per diluted share a year ago. Net earnings was $60 million or $0.63 per diluted share, compared to loss of $156 million or $1.59 per diluted share a year ago. Net cash used in operating activities for the nine months ended September 30, 2014 was $23 million compared with net cash provided by operating activities of $59 million for the nine months ended September 30, 2013. Capital expenditures for the nine months ended September 30, 2014 and 2013 were $78 million and $124 million, respectively. The decrease was primarily related to capital projects at Nantong, China and Ankerweg, The Netherlands facilities which were substantially completed throughout 2013. Adjusted EBITDA was $200 million, compared to $210 million a year ago. Adjusted EPS was $0.65, up from $0.52 a year ago. Projected managed basis tax rate for 2014 is lower than 31%. For the fourth quarter, the company's industrial performance products are expected to deliver improved year-on-year profitability which will result in a performance comparable to the third quarter of 2014. Industrial Engineered Products expects to deliver improved profitability compared to the third quarter of 2014 but does not expect to repeat the higher performance it delivered in the fourth quarter of 2013.

 

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CEMJQ

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Valuation CEMJQ Industry Range
Price/Earnings 25.2x
Price/Sales 0.8x
Price/Book 2.3x
Price/Cash Flow 13.8x
TEV/Sales 0.4x
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