Zinger Key Points
- Chemours Q4 net sales hit $1.359B, in line with estimates, with adjusted EBITDA up 2% Y/Y to $179M.
- FY25 adjusted EBITDA expected between $825M–$975M, with CapEx of $250M–$300M.
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Chemours Company CC shares are trading higher premarket on Tuesday after the company reported fourth-quarter net sales of $1.359 billion, down 1% year-over-year, which was in line with the consensus.
Net sales declined primarily due to a 3% decrease in pricing, partially offset by a 2% increase in volume, while currency impact remained flat.
Titanium Technologies segment net sales declined 3%, while Thermal & Specialized Solutions segment sales rose 3%.
Adjusted EBITDA improved 2% Y/Y to $179 million, driven by cost savings from the TT Transformation Plan, favorable inventory adjustments and true-ups in Advanced Performance Materials and higher volumes in TSS segments.
Adjusted EPS of $0.11 missed the consensus of $0.12.
The company returned to shareholders through dividends of $36 million in the quarter. Operating cash flow stood at $138 million in the quarter, compared to $482 million in the prior-year quarter.
As of December 31, 2024, Chemours had cash and equivalents of $713 million and gross debt was $4.2 billion.
Outlook: In FY25, the company expects adjusted EBITDA of $825 million – $975 million, with capital expenditures of $250 million – $300 million.
In the first quarter of FY25, the company projects net sales to be flat or slightly lower sequentially, with a modest sequential decrease expected in adjusted EBITDA.
In the first quarter, TSS expects a sequential increase in sales, driven by double-digit growth in Opteon Refrigerants, partially offset by a decline in Freon Refrigerants due to U.S. transitions.
TT anticipates a sequential decrease in sales, driven by a shift in regional sales mix, with stable volumes.
Denise Dignam, Chemours President and CEO, said, “We are well underway executing our Pathway to Thrive strategy, as evidenced by our recent strong performance, leadership announcements, partner agreement for on-site chlorine production at our DeLisle TiO2 facility, and the recent completion of the neat Opteon capacity expansion at our Corpus Christi, Texas site.”
Investors can gain exposure to GLW via ProShares Smart Materials ETF TINT.
Price Action: CC shares are up 2.44% at $17.23 premarket at the last check Tuesday.
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