Chemours Q4 2022 Earnings Report
Key Takeaways
Chemours' Q4 2022 results reflect a challenging quarter with net sales down 15% year-over-year and a net loss of $(97) million. Adjusted EBITDA decreased by 61% to $120 million. Despite the weak quarter, the company highlighted record annual results in TSS and APM segments.
Net Sales of $1.3 billion, down (15)% year-over-year.
Net Loss of $(97) million with EPS of $(0.65), down $(2.05) year-over-year.
Adjusted Net Income* of less than $1 million with Adjusted EPS* of $0.00, down $(0.81) year-over-year.
Adjusted EBITDA*of $120 million, down (61)% year-over-year
Chemours
Chemours
Chemours Revenue by Segment
Forward Guidance
The Company expects to deliver 2023 Adjusted EBITDA within a range of $1.20 billion to $1.30 billion. Adjusted EPS is projected to be between $3.80 and $4.29. The Company expects Free Cash Flow of greater than $350 million, inclusive of approximately $400 million of capital expenditures.
Positive Outlook
- Adjusted EBITDA* between $1.20 billion and $1.30 billion
- Adjusted EPS* between ~$3.80 and $4.29
- Free Cash Flow* of greater than $350 million, including CAPEX of approximately $400 million to support TSS and APM growth investments
- conditions improving in the second half of the year
- continued secular growth in key parts of our TSS and APM businesses
Challenges Ahead
- weaker start to 2023
- higher raw material costs
- demand weakness in Europe and Asia
- lower operating rates
- improve the earnings profile of our TT business
Revenue & Expenses
Visualization of income flow from segment revenue to net income