Q2 "was challenging on a number of fronts, including softer than expected Ti-Pure demand and the continued impact of illegal imports of HFC refrigerants into Europe," the company said.
For the full year, Chemours forecasts EPS of $2.37-$3.08, well below $3.88 analyst consensus estimate, as well as adjusted EBITDA of $1B-$1.15B, capex of ~$500M and free cash flow of ~$100M.
For Q2, Chemours says net sales in its Titanium Technologies segment fell 34% Y/Y to $567M from $862M in the prior-year quarter, due to lower volumes of Ti-Pure titanium dioxide driven by a combination of weak demand and market share loss.
Also in Q2, Fluoroproducts segment net sales fell 11% Y/Y to $711M from $801M in the year-ago quarter, and Chemical Solutions net sales slipped 15% to $130M from $153M a year ago.
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