Chemours Co Stock Price, News & Analysis

Chemours reported Q3 2024 financial results with Net Sales of $1.5 billion, up 1% year-over-year. The company recorded a Net Loss of $27 million ($0.18 per share), including a $56 million non-cash impairment charge, compared to Net Income of $12 million in Q3 2023. Adjusted EBITDA was $208 million, slightly down from $211 million last year.

The Thermal & Specialized Solutions segment achieved record Q3 sales, with Opteon™ Refrigerants growing 21% year-over-year. The company outlined a refreshed corporate strategy focusing on operational excellence, targeting over $250 million in cost savings through 2027.

The Chemours Company (NYSE: CC) has announced its quarterly dividend payment for Q4 2024. The company's Board of Directors has declared a cash dividend of $0.25 per share on common stock. The dividend will be distributed on December 16, 2024, to shareholders who are recorded as stockholders at the close of business on November 15, 2024.

The Chemours Company (NYSE: CC) has announced the schedule for its third quarter 2024 financial results release and conference call. The company plans to issue its financial results before the market opens on Monday, November 4, 2024. Following this, Chemours will host a conference call at 8:00 a.m. Eastern Standard Time on the same day to discuss the results.

The call will be open to the public and accessible via a live webcast. Interested parties can find the webcast link and accompanying slides on the investors.chemours.com website. For those unable to attend the live event, a webcast replay will also be made available on the same investor relations website.

Chemours' Chief Sustainability Officer, Amber Wellman, emphasizes the importance of partnerships in creating a more sustainable world. The company's sustainability strategy is organized around four pillars: Environmental Leadership, Innovation & Sustainable Solutions, Community Impact, and Greatest Place to Work.

Key highlights include:

• 52% reduction in Scope 1 and 2 GHG emissions since 2018
• 48% of revenue from products contributing to UN SDGs
• $5.6 million in community grants awarded in 2023
• 15 global regions certified as Great Place to Work®

Chemours is strengthening partnerships to accelerate progress, such as collaborating with the Wildlife Habitat Council and participating in the Clean Hydrogen Partnership. The company remains committed to its 2030 sustainability goals and continues to seek ways to improve performance and increase impact.

Chemours CEO Denise Dignam reaffirms the company's commitment to sustainability in the face of challenges. The company has made significant progress towards its Corporate Responsibility Commitment goals, focusing on improving lives, powering progress, and protecting the planet. Chemours is integrating sustainability into business decisions and actions across the organization.

Key points include:

• Advancing sustainable innovations and reducing operational impact
• Partnering with stakeholders to address global challenges
• Investing in emissions control technologies and reducing energy and water consumption
• Setting ambitious environmental goals and promoting greater circularity
• Renewing commitment to the Ten Principles of the United Nations Global Compact

Dignam emphasizes that responsible manufacturing is crucial, and Chemours continues to be an environmental leader in the industry. The company's 2023 Sustainability Report details milestones achieved and outlines future sustainability efforts.

Chemours has been recognized by the U.S. Department of Energy for achieving its emissions reduction goal as part of the Better Climate Challenge. The company has reduced scope 1 and scope 2 greenhouse gas emissions by 58% through decarbonization efforts across its U.S. operations. This achievement aligns with Chemours' 2030 Sustainability Goals and its participation in the DOE's Better Climate Challenge and Better Plants Challenge.

Dr. Amber Wellman, Chemours' Chief Sustainability Officer, expressed pride in surpassing the goal ahead of schedule and emphasized the company's commitment to sustainability. The DOE's Better Buildings Initiative, which includes these challenges, has helped partners save nearly $22 billion in energy costs and avoid over 220 million metric tons of greenhouse gas emissions. Chemours is recognized as a market leader in setting portfolio-wide emissions reduction goals and sharing strategies with others.

Chemours is playing a important role in advancing the electric vehicle (EV) revolution through innovative chemistry solutions. The company's products enhance EV performance, sustainability, and manufacturing efficiency:

1. Advanced fluoropolymers in battery production accelerate manufacturing and eliminate hazardous solvents.

2. High-performing fluoroelastomers and fluoropolymers improve durability in critical parts like cables, seals, and gaskets.

3. Low global warming potential fluorinated gases enable cabin comfort, battery cooling, and extended driving ranges.

4. Advanced lubricants and fluoropolymers reduce vibration and noise, enhancing ride quality.

Chemours' Battery Innovation Center focuses on developing novel battery technologies to further improve EV performance and sustainability.

Chemours (NYSE: CC) has developed a low global warming potential (GWP) refrigerant retrofit approach for the automotive aftermarket. This innovative solution will allow older vehicles to easily and cost-effectively transition from the legacy R-134a refrigerant to the climate-friendly Opteon™ YF (R-1234yf) refrigerant. The retrofit procedure is designed to be simple and safe for vehicle owners and service technicians.

Opteon™ YF, developed to replace R-134a in new mobile HVAC systems, is currently used in 250 million light-duty vehicles. By 2025, Chemours expects its Opteon™ portfolio to eliminate an estimated 325 million tons of carbon dioxide equivalent. This retrofit approach is a significant step in supporting global climate targets and regulations, especially considering the millions of vehicles still using R-134a.

Chemours, a global leader in performance chemistry, has released its 2023 Sustainability Report, showcasing progress in resource efficiency and circularity. A key highlight is the international F-gas Lifecycle Program launched by its Thermal & Specialized Solutions business. This initiative aims to advance the recovery, reclaim, and reuse of fluorinated gases across Chemours' product portfolios, including Opteon™, Freon™, and FM-200™.

The program supports Chemours' commitment to a circular economy and aligns with UN Sustainable Development Goals. It also contributes to net zero objectives through emission reduction. Joe Martinko, President of Thermal & Specialized Solutions, emphasized the program's importance in reducing emissions throughout the product lifecycle. F-gases offer advantages over 'natural' alternatives, as they can be recovered, reclaimed, and reused across multiple applications, maximizing resource efficiency and minimizing waste.