The Chemours Company
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The Chemours Company (CC) investor relations material

The Chemours Company Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary20 Feb, 2026

Executive summary

  • Achieved strong free cash flow of $92 million in Q4 2025, with full year net sales of $5.8 billion and adjusted EBITDA of $742 million; TSS segment delivered record Opteon™ Refrigerants growth, up 37% in Q4 and 56% for the year, while TT and APM faced volume declines due to weaker end markets.

  • Announced sale of Kuan Yin TiO2 site for approximately $300 million in net proceeds to reduce debt and support deleveraging.

  • Implemented cost-saving and operational excellence initiatives, delivering $125 million in gross controllable cost savings in 2025.

  • Advanced Pathway to Thrive strategy, focusing on operational excellence, growth, and portfolio management.

  • Q4 2025 net loss was $47 million, mainly due to lower production, non-cash inventory charges, and higher taxes; full year net loss was $386 million, primarily from litigation-related charges.

Financial highlights

  • Q4 2025 net sales were $1.3 billion, with adjusted EBITDA of $128 million; full year net sales were $5.8 billion and adjusted EBITDA $742 million.

  • Q4 2025 free cash flow was $92 million (72% conversion), up from $29 million in Q4 2024; full year free cash flow was $51 million, a $1,044 million improvement year-over-year.

  • Adjusted EBITDA margin for TSS was 29% in Q4 2025 and 32% for the full year; TT and APM margins were 4% each in Q4.

  • Corporate expenses and capital expenditures decreased year-over-year, reflecting ongoing cost management.

  • Net leverage ratio at year-end 2025 was 4.7x, with net debt of $3.5 billion and liquidity of $1.6 billion.

Outlook and guidance

  • 2026 net sales growth expected at 3–5%, with adjusted EBITDA projected at $800–$900 million and free cash flow conversion above 25%.

  • Q1 2026 consolidated net sales expected to rise 3–5% sequentially; adjusted EBITDA forecasted at $120–$150 million.

  • TSS Q1 2026 net sales projected to increase 20–30% sequentially, led by Opteon™ Refrigerants; TT and APM expected to see sequential declines.

  • Capital expenditures for 2026 anticipated at $275–$325 million.

  • Net leverage ratio targeted below 4x by end of 2026, progressing toward a long-term goal of below 3x.

Detail 2026 net leverage reduction plan
APM segment recovery beyond Q1 outage
Basis for 2026 TiO2 pricing strength?
Detail the plan to reduce inventory levels
APM semiconductor/data center growth drivers?
Washington Works recovery and reliability plan?
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Frequently asked questions

The Chemours Company is a global performance chemicals company with leading market positions in titanium technologies, fluoroproducts, and chemical solutions. The business is segmented into transportation, refrigeration and air conditioning, industrial processes, consumer and construction products. Transportation segment offers Freon refrigerants for automobile and commercial trucks. Refrigeration and Air Conditioning segment offers Opteon coolants for refrigeration systems of residential buildings. Industrial Processes segment offers Teflon coatings processing aids.

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