Chemours Reports 2024 Financial Results, Highlights Growth in Opteon Refrigerants

The Chemours Company has released its financial results for the fourth quarter and full year 2024, reporting net sales of $5.8 billion, a decline from $6.1 billion in the prior year. Despite lower sales, the company posted a net income of $86 million, reversing a net loss of $238 million in 2023. Adjusted EBITDA stood at $786 million, down from $1.0 billion the previous year.

Throughout 2024, Chemours focused on transformation efforts, including the establishment of a new executive leadership team and the launch of its "Pathway to Thrive" strategy. The company also announced plans for a new chlor-alkali facility at its DeLisle, Mississippi, TiO₂ plant and completed the Opteon YF expansion at its Corpus Christi, Texas, site.

Denise Dignam, Chemours President and CEO, commented: “In the fourth quarter, we delivered a strong earnings performance, exceeding our Adjusted EBITDA expectations across all our businesses. For TSS, we set another quarterly Net Sales record, with 23% year-over-year growth in Opteon Refrigerants.”

Thermal & Specialized Solutions (TSS) Performance

The TSS segment, which includes refrigerants, foam expansion agents, and propellants, recorded fourth-quarter net sales of $390 million, a 3% year-over-year increase. The growth was primarily driven by a 7% rise in sales volume, offset by a 4% price decline. Opteon Refrigerants saw a 23% year-over-year sales increase, attributed to stronger demand ahead of new low-GWP air conditioning regulations under the U.S. AIM Act. However, Freon Refrigerants sales declined by 12% due to elevated HFC inventory levels in the market.

Adjusted EBITDA for the segment decreased slightly by 1% to $123 million in Q4 2024, with an Adjusted EBITDA Margin of 32%. Full-year TSS net sales totaled $1.8 billion, reflecting a 1% decline compared to 2023. The segment's annual Adjusted EBITDA dropped 16% to $576 million, largely due to lower Freon prices, increased costs, and quota-related constraints.

2025 Outlook

For 2025, Chemours projects Adjusted EBITDA between $825 million and $975 million. Capital expenditures are expected to range between $250 million and $300 million. The company anticipates improved cash flow to fund capital projects and shareholder dividends, subject to board approval.

With its ongoing strategic initiatives and regulatory-driven refrigerant transitions, Chemours aims to strengthen its market position in 2025 while focusing on long-term shareholder value.