NYSE$CC
The Chemours · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
The Chemours Company reported first quarter 2024 results with net sales of $1.4 billion and net income of $52 million.
Chemours reported Q1 2024 results with net sales of $1.4 billion, a 12% decrease year-over-year. Net income attributable to Chemours was $52 million, or $0.34 per diluted share, compared to $145 million in the prior-year quarter. Adjusted EBITDA was $193 million, down from $304 million in the corresponding prior-year quarter.
- Net Sales of $1.4 billion, down 12% year-over-year.
- Net Income attributable to Chemours of $52 million, or $0.34 per diluted share, compared with $145 million, or $0.96 per diluted share, in the corresponding prior-year quarter.
- Adjusted EBITDA was $193 million, compared to $304 million in the corresponding prior-year quarter.
- Cash flows used in operations were $290 million, and capital expenditures were $102 million.
Headline financials
Revenue & EPS history
Chemours · Revenue · Quarterly
$1.35B
Forward guidance
For the second quarter of 2024, Chemours expects consolidated Net Sales to increase approximately 15% sequentially, with consolidated Adjusted EBITDA also up approximately 15% compared with first quarter 2024 results.
Tailwinds
- TT expects sequential Net Sales growth of approximately 15%.
- TT Adjusted EBITDA growth is expected to be generally in-line with the growth in Net Sales.
- TSS expects mid-teens sequential growth for both Net Sales and Adjusted EBITDA.
- APM expects sequential Net Sales growth in the low-teens, driven by growth in the Performance Solutions product portfolio.
- APM Adjusted EBITDA for the second quarter of 2024 is expected to approach a 30% sequential increase.
Headwinds
- TT shift in timing of higher-cost ore consumption, much of which is anticipated for the second quarter.
- TSS projected sequential growth for Adjusted EBITDA incorporates a modest offset from higher input costs from non-Corpus Christi sourced materials to support the transition to Opteon™.
- TSS lower fixed cost absorption on the Company’s legacy refrigerant production.
- TSS ongoing investments in next generation refrigerants and immersion cooling.
- Corporate Expenses, as an offset to Adjusted EBITDA, for the second quarter of 2024 are expected to be higher by approximately $15 million to $20 million sequentially.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.4%
Avg return
Earnings day
+2.4%
Avg return
5 days after
+1.2%
Avg return
30 days after
55%
27 / 49 earnings
Positive
+24.2%
Q4 2019
Best reaction
-23.0%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -15.7% | -9.6% | -26.8% | |
| Q4 2025 | -16.5% | -11.7% | -13.3% | |
| Q3 2025 | +6.8% | +7.4% | +8.2% | |
| Q1 2025 | -9.4% | -0.9% | -8.1% | |
| Q4 2024 | +3.9% | -0.4% | -12.8% | |
| Q3 2024 | +11.6% | +11.1% | +19.4% | |
| Q2 2024 | -15.0% | -22.5% | -19.6% | |
| Q1 2024 | -6.1% | -4.0% | -7.6% | |
| Q4 2023 | -4.1% | +5.0% | -0.2% | |
| Q3 2023 | -0.1% | +2.1% | +11.7% | |
| Q2 2023 | -4.8% | -4.0% | -14.8% | |
| Q1 2023 | +6.4% | +11.1% | +4.4% | |
| Q4 2022 | -1.7% | -0.8% | -10.7% | |
| Q3 2022 | +1.0% | -0.9% | +13.5% | |
| Q2 2022 | +4.0% | +1.6% | +4.5% | |
| Q1 2022 | +17.7% | +21.1% | +31.7% | |
| Q4 2021 | -16.8% | -13.9% | -26.9% | |
| Q3 2021 | +8.0% | +4.7% | -3.0% | |
| Q2 2021 | +1.9% | +4.7% | +6.5% | |
| Q1 2021 | +4.4% | +14.7% | +23.0% | |
| Q4 2020 | -2.6% | -1.8% | +7.1% | |
| Q3 2020 | +2.2% | +8.3% | +23.0% | |
| Q2 2020 | -0.3% | +5.9% | +12.8% | |
| Q1 2020 | +12.9% | +18.3% | +44.4% | |
| Q4 2019 | +24.2% | +19.1% | -33.9% | |
| Q3 2019 | +13.9% | +13.4% | -11.1% | |
| Q2 2019 | -23.0% | -26.5% | -25.7% | |
| Q1 2019 | -1.8% | -16.4% | -39.4% | |
| Q4 2018 | -2.6% | -3.0% | -2.2% | |
| Q3 2018 | +4.1% | +2.9% | -13.7% | |
| Q2 2018 | +4.9% | +6.7% | -2.8% | |
| Q1 2018 | +4.5% | +4.4% | +1.7% | |
| Q4 2017 | +2.7% | +2.5% | +4.5% | |
| Q3 2017 | -8.4% | -10.5% | -9.0% | |
| Q2 2017 | -1.6% | +3.8% | +4.3% | |
| Q1 2017 | -1.0% | +2.4% | -0.7% | |
| Q4 2016 | -0.5% | +3.1% | +8.4% | |
| Q3 2016 | +12.7% | +21.1% | +52.3% | |
| Q2 2016 | +13.2% | +25.8% | +49.6% | |
| Q1 2015 | -3.1% | — | — | |
| Q1 2016 | +9.6% | — | — | |
| Q1 2014 | +2.3% | — | — | |
| Q4 2013 | +2.3% | — | — | |
| Q4 2015 | +14.3% | — | — | |
| Q3 2014 | -17.2% | — | — | |
| Q3 2015 | -17.2% | — | — | |
| Q4 2014 | +16.3% | — | — | |
| Q2 2014 | +16.3% | — | — | |
| Q2 2015 | +16.3% | — | — |
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