Chemours sees Q3 adjusted EBITDA $175M-$195M

The company said, “In the Q3, the Company anticipates consolidated Net Sales to decrease 4-6% sequentially, with consolidated Adjusted EBITDA expected to range between $175M-$195M. Corporate Expenses, as an offset to Adjusted EBITDA, are expected to decrease approximately 5%. The Company also anticipates capital expenditures to be approximately $50M, with Free Cash Flow Conversion to be between 60-80%. TSS expects a sequential Net Sales decrease in the mid single-digit percentage range, driven by overall traditional refrigerant seasonality concentrated in Freon Refrigerants. Adjusted EBITDA is also expected to decrease in the low-teens percentage range sequentially, primarily driven by the referenced seasonality as well as overall product mix. TT expects a sequential Net Sales decrease in the low single-digit percentage range, driven by seasonality and regional sales mix, with volumes expected to remain stable. Adjusted EBITDA is also expected to decrease in the low-teens percentage range sequentially due to lower sales paired with certain operational disruptions. Costs associated with these operational issues are anticipated to approximate $15M in the Q3. APM expects a sequential Net Sales decrease in the mid-teens percentage range due to production constraints associated with an outage at our Washington Works U.S. site. Adjusted EBITDA for APM is expected to approximate $15M in the Q3, considering lower sales as well as additional costs from the referenced site outage, which are anticipated to approximate $20M.”