en.Wedoany.com Reported - Chemours released its second-quarter 2026 results. Net sales for the quarter were $1.59 billion, compared with $1.62 billion in the same period last year, a decline of approximately 1% year-over-year. Volumes decreased 4%, while price increases of 2% and favorable currency impacts of 1% partially offset the volume decline.
Net loss attributable to Chemours for the reporting period was $274 million, or $1.81 per diluted share, compared with a net loss of $380 million, or $2.53 per diluted share, in the same period of 2025. Adjusted net income was $64 million, or $0.42 per diluted share, versus $91 million, or $0.61 per diluted share, in the prior-year period. Adjusted EBITDA was $247 million, down 5% from $260 million in the prior-year period.
Chemours stated that the quarterly net loss includes legal and environmental reserves established in connection with settlement agreements with the U.S. Environmental Protection Agency (EPA) and the West Virginia Department of Environmental Protection, as well as related costs from ongoing litigation; these impacts were partially offset by gains from the sale of the former Kuan Yin site property. President and Chief Executive Officer Denise Dignam said the quarter's results reflect progress in pricing within the Titanium Technologies segment, growth in high-value Advanced Performance Materials applications, and improved cash generation, as the company continues to execute its "Pathway to Thrive" strategy.
Titanium Technologies segment sales increased 1% year-over-year to $661 million, with adjusted EBITDA rising from $47 million to $48 million. Within the segment, titanium dioxide pigment sales were $639 million, up 2% year-over-year. Chemours noted that global pricing increased 2% and currency benefits contributed 1%, covering the segment's 2% decline in global volumes. Pricing was higher than the prior-year period across all regions, while TiO₂ volumes declined in most major end markets, with the exception of Asia outside China and Latin America.
Sequentially, Titanium Technologies segment sales increased 18% from the first quarter, with global volumes up 15% and prices up 3%. The company implemented three global TiO₂ price increases over approximately eight months, with the most recent taking effect on June 1. These pricing actions have resulted in a cumulative increase of approximately 5% in year-to-date net selling prices for TiO₂. Chemours expects third-quarter Titanium Technologies segment sales to grow by low to mid-single-digit percentages sequentially, supported by recent pricing actions and stable volumes, with segment adjusted EBITDA projected between $70 million and $80 million.
Advanced Performance Materials (APM) segment sales were $326 million in the second quarter, down 6% year-over-year. Within the segment, Performance Solutions portfolio sales were $142 million, up 8% year-over-year and 42% sequentially. Growth was driven by demand for specialty materials used in semiconductor and data center applications.
According to the company's investor presentation, data centers, semiconductors, and advanced electronics applications currently account for a high single-digit percentage of combined sales from Thermal & Specialized Solutions and Advanced Performance Materials, with more than 40% of APM Performance Solutions sales concentrated in these target markets. Related applications encompass thermal management, semiconductor manufacturing, specialty coatings, and component materials. Chemours stated that these markets are growing in importance within its portfolio as demand related to artificial intelligence infrastructure and advanced computing expands.
In terms of cash flow, operating cash flow for the quarter was $158 million, compared with $93 million in the prior-year period. Free cash flow increased from $50 million to $114 million, up 128% year-over-year, with a free cash flow conversion rate of 46%. As of June 30, the company had total debt of $3.9 billion, unrestricted cash and cash equivalents of $671 million, net debt of approximately $3.2 billion, and a net leverage ratio of approximately 4.4 times trailing twelve-month adjusted EBITDA. Chemours repaid €230 million of its euro-denominated term loan during the quarter and expects to continue deleveraging in 2026.
For full-year 2026, Chemours maintains its outlook for net sales growth of 1% to 5% over 2025, with adjusted EBITDA expected between $775 million and $825 million, capital expenditures between $250 million and $280 million, free cash flow conversion above 25%, and a year-end net leverage ratio target of approximately 3.8 times. For paint manufacturers and formulators, Chemours' pricing and volume trends directly reflect changes in titanium dioxide supply-demand dynamics. Titanium dioxide is a key raw material affecting hiding power, whiteness, formulation economics, and finished coating costs.
