Chemours Q2 Loss Narrows to $274M; Guides Q3 EBITDA Below Consensus, Sees Leverage Falling to 3.8x
CC sits 59% above its 52-week low of $10.44.
Summary
Chemours posted a narrower Q2 loss of $274M, with Adjusted EBITDA of $247M and free cash flow of $114M. Q3 guidance implies a sequential EBITDA decline to $175M–$205M, while full-year leverage is expected to fall to 3.8x.
Key Events · Earnings and Guidance · CC
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Q2 Loss Narrows but Remains Deep
Net loss of $274M ($1.81/share) vs. $380M loss a year ago, driven by $225M in litigation charges and $144M in environmental charges related to PFAS settlements.
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Adjusted EBITDA Near High End of Guidance
Adjusted EBITDA of $247M, down 5% YoY, with TSS at $213M, TT at $48M, and APM at $26M. Free cash flow improved 128% to $114M.
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Q3 Guidance Implies Sequential EBITDA Decline
Q3 Adjusted EBITDA guided to $175M–$205M, below Q2's $247M, on weaker Opteon refrigerant demand and seasonal factors. Free cash flow expected at least $50M.
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Full-Year Leverage Target of 3.8x
Net leverage fell to 4.4x from 4.6x after repaying €230M of term loan debt. Full-year Adjusted EBITDA outlook of $775M–$825M supports leverage declining to ~3.8x by year-end.
Analysis · CC · Industrial Applications And Services
Chemours reported a second-quarter net loss of $274 million, or $1.81 per share, an improvement from the $380 million loss a year ago but still reflecting heavy litigation and environmental charges tied to PFAS settlements. Adjusted EBITDA of $247 million came in near the high end of guidance, and free cash flow surged to $114 million, helping reduce net leverage to 4.4x. The company guided third-quarter Adjusted EBITDA to $175–$205 million, below the $247 million just reported, citing weaker refrigerant demand and seasonal headwinds. Full-year Adjusted EBITDA is seen at $775–$825 million, with leverage expected to drop to around 3.8x by year-end. The results land against a backdrop of ongoing PFAS liabilities and a recent EPA settlement, making the cash flow improvement and debt paydown critical for survival.
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At the time of this filing, CC was trading at $16.60 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $10.44 to $28.67. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.