The Chemours Company reported a second-quarter net loss attributable to the company of $274 million, or $1.81 per diluted share, an improvement from a $380 million loss, or $2.53 per share, a year earlier. Net sales were roughly flat at $1.6 billion, as a 4% volume decline was offset by a 2% price increase and a 1% currency tailwind, while adjusted EBITDA fell 5% to $247 million and adjusted net income dropped 30% to $64 million. Free cash flow jumped 128% year over year with conversion reaching 46%, operating cash flow climbed to $158 million from $93 million, and net leverage fell to 4.4 times EBITDA as the company paid down 230 million euros of its B-3 euro-denominated term loan due August 2028. Advanced Performance Materials posted the weakest segment result, with net sales down 6% and adjusted EBITDA down 48% to $26 million, while Thermal & Specialized Solutions adjusted EBITDA margin rose to 36% from 35%. Chemours guided third-quarter net sales to fall 5% to flat sequentially, with Thermal & Specialized Solutions sales sliding mid-teens to 20% as refrigerant demand cools further.
Chemours CoQ2 net loss of $274M, adjusted EBITDA down 5% to $247M, and adjusted net income down 30% to $64M, with Q3 sales guided lower.
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