- Venator Materials (VNTR -7.4%) reported revenue growth of +7% Y/Y for the quarter. Segment revenue: titanium dioxide +8% Y/Y to $387M and performance additives +5% Y/Y to $141M.
- Q4 overall operating margin improved 1290 bps to 12.9%.
- Update on Pori: Based on current estimates, company expect the total cost to rebuild the Pori facility (including the commodity portion) will exceed the limits of their insurance policy by as much as $325M, or up to $375M when providing additional contingency for the upper limits of current design and construction cost estimates. This amount includes increased costs associated with the faster than normal build schedule of the specialty and differentiated products portion of the facility, and greater equipment replacement costs.
- 2018 Update: Simon Turner, President and CEO of Venator, commented, “We remain positive about titanium dioxide industry fundamentals and have started 2018 with tremendous momentum. Margins are set to increase as higher selling prices should outpace our cost advantaged ores. Additionally, 2018 will see $30 million further of combined benefit from our business improvement program in our Titanium Dioxide and Performance Additives segments.”
- Previously: Venator Materials beats by $0.02, misses on revenue (Feb. 23)
- Now read: International Flavors & Fragrances Inc. 2017 Q4 - Results - Earnings Call Slides
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