Chemours Q3 Net Income Hits $196 Million as Titanium Pricing Offsets Refrigerant Slump
The Chemours Company reported third-quarter 2026 net sales of $1,540 million, up 3% from a year earlier, as higher titanium dioxide pricing and growth in AI infrastructure materials outweighed a sharp drop in refrigerant sales. Net income attributable to Chemours rose to $196 million, or $1.29 per diluted share, from $46 million, or $0.31 per share, a year ago.
- Q3 2026 net sales were $1,540 million, up 3% year over year, with net income attributable to Chemours at $196 million ($1.29 per diluted share).
- Adjusted EBITDA was $200 million versus $189 million a year earlier, driven by TT pricing and APM Performance Solutions growth.
- TT adjusted EBITDA rose to $85 million from $25 million, while TSS adjusted EBITDA fell 30% to $136 million.
- APM Performance Solutions sales grew 26%, tied to data center and semiconductor demand.
- Chemours settled with North Carolina, launched its Faizeon liquid cooling brand and closed the Kuan Yin property sale for about $340 million.
Pricing and mix lift the headline numbers
According to the company, net sales of about $1.5 billion were driven by a 5% increase in pricing, partly offset by a 2% decrease in volumes and a slight currency headwind. The pricing gain came mainly from previously announced price actions in Titanium Technologies (TT), along with a favorable mix shift toward Advanced Performance Materials (APM) Performance Solutions.
Adjusted EBITDA reached $200 million, compared with $189 million in the prior-year quarter. Adjusted net income was $31 million, or $0.21 per diluted share, versus $26 million, or $0.17 per share, a year earlier. Compared with the second quarter of 2026, net sales fell 3% from $1,591 million, and adjusted EBITDA fell 19% from $247 million.
Chemours said current-year net income included the receipt of $150 million related to the PFAS insurance proceeds MOU executed in connection with the finalization of the judicial consent order with the State of New Jersey. The company presented this as a reduction to selling, general, and administrative expense.
Titanium and advanced materials grow, refrigerants shrink
Titanium Technologies was the standout. Segment net sales rose 11% to $680 million, with a 10% increase in global pricing and a 1% rise in volumes. Adjusted EBITDA climbed to $85 million from $25 million, and the margin increased nine points to 13%. Chemours said pricing rose across all regions, while volume growth in North America, Latin America and APAC excluding China more than offset lower volumes in EMEA and China.
Advanced Performance Materials posted net sales of $337 million, up 8%. Performance Solutions sales grew 26% to $153 million, which the company attributed to order book strength and momentum in high-value specialty products serving data center and semiconductor end markets. Segment adjusted EBITDA rose 71% to $24 million, with the margin up two points to 7%. Advanced Materials sales slipped 3% to $184 million.
Thermal & Specialized Solutions moved the other way. Net sales fell 9% to $510 million, and adjusted EBITDA dropped 30% to $136 million, with the margin down eight points to 27%. Opteon refrigerant sales declined 22% to $287 million. Chemours said the volume decline mainly reflected lower North American stationary AC aftermarket sales of Opteon blends, compared with elevated demand a year earlier that benefited from the initial aftermarket channel fill tied to the stationary AC technology transition under the U.S. AIM Act. Freon refrigerants rose 6% to $100 million, and Foam, Propellants & Other rose 26% to $123 million.
Settlement, cooling launch and property sale
The company highlighted several other developments. It entered into a settlement with the State of North Carolina and 11 local entities to resolve litigation relating to PFAS and other historical discharges from Fayetteville Works, as well as claims of PFAS contamination unrelated to that site, including from the use of AFFF.
Chemours also formally launched its liquid cooling portfolio under the Faizeon brand, comprising four two-phase direct-to-chip fluids and one immersion cooling fluid. In addition, it completed the sale of the Kuan Yin property for total net consideration of about $340 million, including the remaining land parcel for $56 million of gross proceeds.
What management says and what it means
CEO Denise Dignam said the results reflect "pricing execution in TiO 2 and increased demand across Performance Solutions' high-value AI infrastructure including data center and semiconductor end markets." She added that the company continues "to navigate TSS stationary aftermarket dynamics and a softer macroeconomic environment."
The quarter shows a company leaning on titanium pricing and AI-related specialty products while its largest refrigerant franchise normalizes after last year's channel fill. The Faizeon launch points to Chemours seeking further exposure to data center demand, though the source gives no sales figures for the new fluids.
PR Newswire: The Chemours Company Reports Third Quarter Results
