The Chemours Company has postponed the release of its financial results and conference call related to the fourth quarter and full year-end earnings, which had previously been scheduled for Feb. 14 and Feb. 15, respectively.
Chemours currently expects to issue its fourth quarter and full year 2023 financial results after market close on Wednesday, Feb. 28. The company also expects to file its annual report on Feb. 29.
Shares dropped nearly 12% in Wednesday trading. Investors often see such delays as a sign of disappointing earnings.
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 Dec. 31, 2023 concerning maintaining effective controls related to information and communications. A release stated that the company’s Audit Committee also needs additional time to complete a related internal review.
Chemours is based in Wilmington and has a research and development center in Newark.
