Chemours sees Q4 revenue down 10%-15% sequentially

In the fourth quarter, the Company anticipates consolidated Net Sales to decrease 10-15% sequentially given seasonal impacts, with consolidated Adjusted EBITDA expected to range between $130 million and $160 million. Corporate Expenses, as an offset to Adjusted EBITDA, are expected to approximate $40 million to $45 million. The Company also anticipates capital expenditures to be in the range of $50 million, with Free Cash Flow Conversion to be between 50%-70%. TSS expects a sequential Net Sales decrease in the high-teens to low-twenties percentage range, driven by overall traditional refrigerant seasonality with continued double-digit Opteon(TM) growth anticipated to more than offset Freon(TM) declines year-over-year. Adjusted EBITDA is expected to be between $125 million and $140 million, primarily driven by the previously referenced seasonality. TT expects a sequential Net Sales decrease in the high single-digits to low-teens percentage range, driven by seasonality and regional sales mix. Adjusted EBITDA is expected to be between $15 million and $20 million, driven by adjustments to production volumes in response to near-term demand signals. This change in production is expected to result in a $25 million cost impact to TT’s Adjusted EBITDA in the fourth quarter, offsetting sequential benefits for improved operations and cost reductions, but will improve TT’s cash generation. APM expects a sequential Net Sales decrease in the low single-digit percentage range, driven by market weakness in its industrial end markets. Adjusted EBITDA for APM is expected to be between $30 million and $40 million, driven by a return to normal operations at the Washington Works U.S. site.