Financial Data and Key Metrics Changes - Consolidated net sales for Q1 2024 were approximately $1.4 billion, down from $1.5 billion in Q1 2023, reflecting a 6% decrease in volumes and a 5% decline in price across all three businesses [36] - Consolidated adjusted EBITDA decreased 37% year-over-year from $304 million to $193 million, primarily due to demand weakness and lower cost absorption [14][36] - Net income for Q1 2024 was $52 million, compared to $145 million in the prior year quarter, with net income per diluted share at $0.34 versus $0.96 [37] Business Segment Performance Changes - In the TT segment, net sales decreased 7% year-over-year to $588 million, driven by a 7% decline in pricing, while adjusted EBITDA remained flat at $70 million [17][18] - TSS segment net sales were approximately $449 million, down 8% from Q1 2023, with a 6% decrease in volume and a 2% decrease in price [19] - APM's net sales for Q1 2024 were $299 million, a 23% decrease compared to the prior year, primarily due to an 18% decline in volume [43] Market Data and Key Metrics Changes - The volume decrease in TSS was primarily due to lower demand in foam, propellants, and other product portfolios, with weaker demand in the automotive OEM market [19][21] - Pricing in the refrigerants product portfolio decreased due to higher market inventory levels, while Opteon blends pricing remained strong [20][42] - The company maintained $607 million in restricted cash, primarily held for the Water District Settlement Fund [23] Company Strategy and Development Direction - The company is focused on becoming one of the lowest-cost TiO2 producers globally, with a transformation plan that has already eliminated approximately $90 million in operating expenses [56] - Capital allocation strategy includes selective investments in organic and inorganic growth, resolving contingent liabilities, maintaining appropriate leverage, and returning cash to shareholders [24] - The company anticipates continued growth in TSS driven by regulatory transitions towards low GWP solutions, with 80% of TSS sales concentrated in North America and EMEA [85] Management's Comments on Operating Environment and Future Outlook - Management noted signs of a modest recovery in economically sensitive end markets served by APM, although no broad market catalysts have been observed [30] - The company expects net sales to increase approximately 15% sequentially in Q2 2024, with TT achieving similar growth due to strength in the order book [83] - Management emphasized the importance of maintaining strong customer relationships and reliability in supply as key competitive advantages [131] Other Important Information - Corporate expenses for Q1 2024 were $55 million, a $10 million increase from the prior year, with expectations for higher expenses in Q2 [15][16] - The company is actively working on remediation of material weaknesses disclosed in its annual report, devoting substantial resources to enhance internal controls [47] Q&A Session Summary Question: What caused the gap in EBITDA guidance? - Management explained that the gap was primarily due to shifts in ore costs and changes in corporate costs, with a focus on supply chain optimization [72][94] Question: What is the outlook for TSS earnings? - Management indicated that while there are high levels of HFC inventory, they expect mid to high-single-digit growth driven by regulatory transitions [99] Question: How will the company manage its leverage profile? - Management stated that they expect cash to remain flattish in the first half of the year, with a source of cash anticipated in the second half, aiming for a leverage ratio around 3 times in the long term [125][126]

The Chemours Company (CC) logged profits of $52 million or 34 cents per share in first-quarter 2024, down from the year-ago quarter's profit of $145 million or 96 cents.Barring one-time items, earnings came in at 32 cents per share. It beat the Zacks Consensus Estimate of 25 cents.The company reported net sales of $1,350 million in the first quarter, down roughly 12% year over year. It fell short of the Zacks Consensus Estimate of $1,360.3 million. The downside was primarily attributed to a 23% decline in t ...

Chemours (CC) reported $1.35 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 12.1%. EPS of $0.32 for the same period compares to $0.98 a year ago.The reported revenue represents a surprise of -0.76% over the Zacks Consensus Estimate of $1.36 billion. With the consensus EPS estimate being $0.25, the EPS surprise was +28.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Chemours (CC) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.98 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 28%. A quarter ago, it was expected that this chemical company would post earnings of $0.29 per share when it actually produced earnings of $0.31, delivering a surprise of 6.90%.Over the last four quarters, the company has ...

EXHIBIT 99.1 Wilmington, Del., April 30, 2024 – The Chemours Company ("Chemours" or "the Company") (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies ("TT"), Thermal & Specialized Solutions ("TSS"), and Advanced Performance Materials ("APM"), today announced its financial results for the first quarter 2024. • Net Sales of $1.4 billion, down 12% year-over-year • Adjusted EBITDA 1,2 was $193 million, compared to $304 million in the corresponding prior-year quarter • ...

The scope of the Audit Committee Internal Review included, among other things, reviewing (i) the process for reviewing reports made to the Chemours Ethics Hotline; (ii) the Company's practice for managing working capital, including the related impact on metrics within the Company's incentive plans; and (iii) certain non-GAAP metrics included in filings made with the Securities and Exchange Commission or otherwise publicly released, and related disclosures. and reclassifi ed Cash flows from operating activit ...

It has been about a month since the last earnings report for Chemours (CC) . Shares have added about 2.9% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Chemours due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Chemours’ Q4 Earnings Beat, Revenue Miss EstimatesChemo ...

SAN DIEGO, April 22, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of The Chemours Company (NYSE:CC) common stock have until Monday, May 20, 2024 to seek appointment as lead plaintiff of the Chemours class action lawsuit. Captioned Taylor v. The Chemours Company, No. 1:24-cv-00361 (D. Del.), the Chemours class action lawsuit charges Chemours and certain of Chemours' top current and former executives with violations of the Securities Exchange Act of 1934. If ...

From a technical perspective, Chemours (CC) is looking like an interesting pick, as it just reached a key level of support. CC recently overtook the 20-day moving average, and this suggests a short-term bullish trend.A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.Like othe ...

From a technical perspective, Chemours (CC) is looking like an interesting pick, as it just reached a key level of support. CC recently overtook the 50-day moving average, and this suggests a short-term bullish trend.One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down tren ...