07.29.22
The Chemours Company reports robust Q2 2022 results. Strong demand drove record Thermal & Specialized Solutions (TSS) and Advanced Performance Materials (APM) performance. The company is now targeting the high end of its adjusted EBITDA guidance range and increasing its free cash flow outlook.
Second quarter 2022 net sales were $1.9 billion, 16% higher than the prior-year quarter. Price was a positive contributor to the improved results, up 23%. This was record net sales in all three segments. Free cash flow was $229 million, up 21% year-over-year.
“The second quarter’s results demonstrate the strength of our highly focused portfolio,” said Mark Newman, Chemours president and CEO. “We achieved record-setting performances in TSS and APM, and our results in these two segments are a testament to their long-term secular growth potential. In TT, we continued to meet customer commitments despite challenging logistics conditions, and I am proud of the team’s efforts to serve our customers despite being ore constrained.”
In the second quarter, Titanium Technologies segment net sales were a record $968 million, up $109 million, or 13%, from $859 million in the prior-year quarter. Compared with the prior-year quarter, price increased by 23%. Segment adjusted EBITDA was $216 million, flat to the prior-year quarter, resulting in a segment adjusted EBITDA margin of 22%.
Second quarter 2022 net sales were $1.9 billion, 16% higher than the prior-year quarter. Price was a positive contributor to the improved results, up 23%. This was record net sales in all three segments. Free cash flow was $229 million, up 21% year-over-year.
“The second quarter’s results demonstrate the strength of our highly focused portfolio,” said Mark Newman, Chemours president and CEO. “We achieved record-setting performances in TSS and APM, and our results in these two segments are a testament to their long-term secular growth potential. In TT, we continued to meet customer commitments despite challenging logistics conditions, and I am proud of the team’s efforts to serve our customers despite being ore constrained.”
In the second quarter, Titanium Technologies segment net sales were a record $968 million, up $109 million, or 13%, from $859 million in the prior-year quarter. Compared with the prior-year quarter, price increased by 23%. Segment adjusted EBITDA was $216 million, flat to the prior-year quarter, resulting in a segment adjusted EBITDA margin of 22%.