Chemours sees Q3 sales down low to mid-single digit sequentially

Chemours anticipates a low to mid-single digit sequential decline in net sales for Q3, reflective of: Residual impacts from Q2 unplanned downtime at our Altamira, Mexico manufacturing site in TT; Refrigerant seasonality paired with weaker Freon Refrigerants pricing in TSS; A continued modest recovery in APM. These core Net Sales assumptions for the third quarter also project continued strong adoption of Opteon Refrigerants, with anticipated double-digit year-over-year growth, and APM’s Performance Solutions portfolio showing strong year-over-year growth. Additionally, the Company anticipates a high-single digit sequential decline in Adjusted EBITDA for the third quarter, reflecting approximately $15 to $20 million of costs related to the unplanned shutdown at Altamira. Corporate expenses are expected to be lower on a sequential basis as efforts around controls remediation continue but with costs concentrated in the first half.”