Thu, Aug 1, 9:14 PM (88 days ago)
For Q2 2024, The Chemours Company reported net sales of $1,538 million, a 6% decrease from Q2 2023. Gross profit fell to $306 million from $410 million due to higher costs. Operating expenses dropped significantly to $168 million from $806 million, primarily due to reduced selling, general, and administrative expenses. Net income improved to $70 million from a loss of $376 million in Q2 2023, mainly driven by lower operating expenses and a decrease in interest expense. Cash flow from operations was negative $910 million, impacted by increased working capital needs. The company also reclassified certain liabilities and restated prior period financials due to errors in supplier financing classification. Chemours faces ongoing litigation and environmental liabilities, with significant accruals for PFAS-related matters. Future uncertainties include regulatory changes and litigation outcomes, which could impact financial results.