The Chemours Company , a global chemistry company with leading market positions in Titanium Technologies , Thermal & Specialized Solutions , and Advanced Performance Materials , today announced its financial results for the first quarter 2024.

Key First Quarter 2024 Results

• Net Sales of $1.4 billion, down 12% year-over-year
• Net Income attributable to Chemours of $52 million, or $0.34 per diluted share, compared with $145 million, or $0.96 per diluted share, in the corresponding prior-year quarter
• Adjusted EBITDA^1,2 was $193 million, compared to $304 million in the corresponding prior-year quarter
• Cash flows used in operations were $290 million, and capital expenditures were $102 million
• Cash returned to shareholders through dividends of $37 million in the quarter

“Net Sales for the first quarter were in line with our expectations across all three of our segments. Consolidated Adjusted EBITDA was higher than anticipated driven by the allocation of TiO₂ volumes to higher-yield regions, the timing of lower-cost ore consumption, the strong execution of our TT Transformation Plan, and lower-than-expected corporate costs,” said Chemours CEO Denise Dignam. “TSS continued to see a strong adoption of Opteon™ products in stationary and auto aftermarket applications combined with seasonal demand strength.

The APM orderbook remains near its recent lows but reflects a modest recovery since year end. We also remain focused on ramping capacity in our Performance Solutions product portfolio to serve growing opportunities, primarily in the semiconductor manufacturing market. Lastly, we delivered significant efficiencies and cost reductions through our TT Transformation Plan and remain focused on becoming one of the lowest cost TiO₂ producers globally.”