Chemours ‘tracking slightly below’ low end of FY22 adjusted EBITDA, FCF guidance

Chemours said it is currently tracking slightly below the low end of its FY22 adjusted EBITDA guidance of $1.4B-$1.45B and free cash flow guidance of greater than $575M. In investor presentation slides, Chemours said TiO2 market demand has weakened in Q4 and it is taking strategic cost actions in order to better position the business for 2023 and beyond. Chemours shares are down about 6% in pre-market trading.