The Chemours Company (Chemours), announced its financial results for the third quarter 2019.
“Our results in the third quarter reflect a weakening macro-economic environment that had an adverse impact on performance across the business,” said Chemours President and
CEO Mark Vergnano. “Despite that, we continue to make progress on our core business imperatives, including Ti-Pure value stabilisation, Opteon adoption, and Fluoropolymers application development. As part of our ongoing efforts to improve operating efficiencies, we are making several restructuring and portfolio changes across Chemours.”
Third quarter 2019 net sales were USD 1.4 billion in comparison to USD 1.6 billion in the prior-year quarter. Results were driven primarily by lower volume in Titanium Technologies and lower volume and price in Fluoroproducts, resulting in a 15 per cent decrease in net sales. Currency was a small headwind in the quarter. Third quarter net income was USD 76 million, or USD 0.46 per diluted share, inclusive of restructuring, asset related, and other charges of USD 34 million.