Chemours Turns to Profit After a Second-Quarter Loss

The Tip Desk · November 3, 2026 · 4 min read

Net income attributable to Chemours was $196 million, or $1.29 a share, after a $274 million loss, or $1.81 a share, in the second quarter.

The Chemours Company (CC), a global chemistry company, reported net income attributable to the company of $196 million, or $1.29 a share, for the third quarter of 2026, after a $274 million loss, or $1.81 a share, in the second quarter.

The swing included a $150 million receipt related to a PFAS insurance proceeds memorandum of understanding tied to a judicial consent order with the State of New Jersey, presented as a reduction to selling, general, and administrative expense. Adjusted net income, which principally excludes recent litigation settlements for legacy environmental matters, was $31 million, or $0.21 a share, compared with $26 million, or $0.17 a share, a year earlier.

Consolidated net sales were $1.54 billion, up 3% from a year earlier after a 1% year-over-year decline in the second quarter. The company said the year-over-year increase reflected a 5% pricing increase, partially offset by a 2% volume decrease and a slight currency headwind. Pricing was driven primarily by previously announced actions in Titanium Technologies and a mix shift toward APM Performance Solutions. Lower volumes primarily reflected anticipated lower North American stationary AC aftermarket sales of TSS Opteon blends versus elevated demand a year earlier.

Adjusted EBITDA was $200 million, compared with $189 million in the year-ago quarter. Sequentially, adjusted EBITDA fell 19% from $247 million in the second quarter.

Thermal & Specialized Solutions net sales were $510 million, down 9% from a year earlier and 14% sequentially from $591 million. Opteon refrigerants sales were $287 million. TSS adjusted EBITDA was $136 million, with a 27% margin. The company said the volume decline was primarily attributable to lower North American stationary AC aftermarket sales of Opteon blends compared with elevated demand a year earlier that had benefited from initial aftermarket channel fill under the U.S. AIM Act. Sequential TSS sales also reflected seasonal demand in that aftermarket.

Titanium Technologies net sales were $680 million, up 11% from a year earlier. The company said the increase was driven by a 10% increase in global pricing and a 1% increase in global volumes, partially offset by a slight currency headwind. Pricing rose across all regions after recent announcements; volume growth in North America, Latin America, and APAC excluding China more than offset lower volumes in EMEA and China. TT adjusted EBITDA was $85 million, with a 13% margin. Sequentially, TT sales rose 3% on a 4% price increase, partially offset by a 1% volume decrease.

Advanced Performance Materials net sales were $337 million, up 8% from a year earlier. Performance Solutions net sales were $153 million, up 26% year-over-year. The company said the increase reflected continued order-book strength and momentum in high-value specialty products serving data center and semiconductor end markets. APM adjusted EBITDA was $24 million, with a 7% margin. Advanced Materials sales were $184 million.

The company entered a settlement with the State of North Carolina and 11 local entities to resolve litigation relating to PFAS and other historical discharges from Fayetteville Works, as well as unrelated PFAS claims including from AFFF use. It also completed the sale of the Kuan Yin property for about $340 million of total net consideration, including a remaining land parcel for $56 million of gross proceeds. President and CEO Denise Dignam said third-quarter results demonstrated strong year-over-year performance in TT and APM, reflecting pricing execution in TiO2 and increased demand across Performance Solutions’ high-value AI infrastructure including data center and semiconductor end markets.

As of September 30, 2026, consolidated gross debt was $3.9 billion. Net of $698 million in unrestricted cash, debt was $3.2 billion, for net leverage of about 4.3x on trailing-twelve-month adjusted EBITDA. Total liquidity was $1.7 billion. Operating cash flows were $149 million, including the $150 million PFAS insurance receipt, partially offset by about $100 million of restricted cash used for 2025 New Jersey settlement payments and about $25 million of taxes on the Kuan Yin sale. Free cash flows were $98 million.

For the fourth quarter, the company expects consolidated net sales to decrease 5% to 10% sequentially, with adjusted EBITDA of $160 million to $185 million. TSS sales are expected to decrease in the high-teens to low-twenties sequentially; TT in the high single-digit to low-teens; and APM to increase in the low-to-mid teens. For full-year 2026, the company expects net sales to grow approximately 2% over 2025, with adjusted EBITDA of $775 million to $800 million. It now anticipates a net leverage ratio below 4.2x in 2026.