The Chemours Company registered a 6% growth in its net sales during Q3 of 2022. The company posted Net Income of $240 million with EPS of $1.52, up $0.25 year-over-year.  Adjusted Net Income was $196 million. Adjusted EPS was $1.24, down $(0.03), or approximately (2) % vs. the prior-year quarter. Adjusted EBITDA for the third quarter of 2022 declined (2) % to $363 million in comparison to $372 million in the prior-year third quarter. Price continued to be ahead of cost in the third quarter, partially offset by lower volumes of (9) % and currency headwinds of (10) %, or $(37) million headwind vs. the prior-year quarter due to a stronger USD.

Chemours announced planned $200 million investment in Nafion manufacturing capacity to support green hydrogen growth. Also announced plans to enter into a Joint Venture with BWT/FUMATECH to develop heavy-duty fuel cell membranes, subject to regulatory approval.

On October 25, 2022, the Company's Board of Directors approved a fourth quarter dividend of $0.25 per share, consistent with the prior quarter.

“Our Thermal & Specialized Solutions (TSS) and Advanced Performance Materials (APM) segments continued to deliver strong results despite macroeconomic headwinds and are both poised to set full-year records,” said Mark Newman, Chemours President and CEO.

“In APM, we delivered our third straight record quarter and expect our announced Nafion capacity expansion and Joint Venture with BWT/FUMATECH to support long term growth in the hydrogen electrolyzer and fuel cell space. In TSS, we had a record 3Q for the business, and continue to lead the global transition to low-GWP thermal management solutions. Strength in APM and TSS drove the majority of our earnings, and helped to offset the headwinds in our Titanium Technologies (TT) segment. I’d like to thank all of our global employees for remaining focused on serving our customers and finishing the year strong in a time of increasing uncertainty.”

Third quarter 2022 Net Sales were $1.8 billion, 6% higher than the prior-year quarter. Price was a positive contributor to the improved results, up 18%, partially offset by lower volumes of (5) % and currency headwinds of (3) %, on a year-over-year basis. Portfolio change, driven by the sale of our Mining Solutions business in 2021, was a (4) % headwind on a year-over-year basis.