The Chemours Company Anticipates A Low To Mid-Single Digit Sequential Decline In Net Sales For Q3
Portfolio Pulse from Benzinga Newsdesk
The Chemours Company anticipates a low to mid-single digit sequential decline in net sales for Q3 due to residual impacts from Q2 unplanned downtime, refrigerant seasonality, and weaker Freon™ pricing. However, strong adoption of Opteon™ Refrigerants and APM's Performance Solutions portfolio are expected to show double-digit year-over-year growth. Adjusted EBITDA is expected to decline by high-single digits sequentially due to costs related to the unplanned shutdown at Altamira.
August 01, 2024 | 8:28 pm
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The Chemours Company anticipates a low to mid-single digit sequential decline in net sales for Q3 due to residual impacts from Q2 unplanned downtime, refrigerant seasonality, and weaker Freon™ pricing. However, strong adoption of Opteon™ Refrigerants and APM's Performance Solutions portfolio are expected to show double-digit year-over-year growth. Adjusted EBITDA is expected to decline by high-single digits sequentially due to costs related to the unplanned shutdown at Altamira.
The anticipated decline in net sales and adjusted EBITDA due to unplanned downtime and weaker Freon™ pricing is likely to negatively impact Chemours' stock price in the short term. However, the strong growth in Opteon™ Refrigerants and APM's Performance Solutions portfolio may provide some positive offset.
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