By Dean Seal
Chemours recorded a smaller loss in the fourth quarter as refrigerant sales jumped and volumes picked up in two of its business lines.
The Wilmington, Del., chemicals company posted a loss of $8 million, or 5 cents a share, compared with a loss of $18 million, or 12 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were 11 cents a share. That's a penny shy of analyst estimates, according to FactSet.
Sales slipped 1% to $1.36 billion, below analyst forecasts for $1.37 billion, according to FactSet.
The shortfall was driven by a 3% decline in prices, which was partially offset by a 2% increase in volume.
Sales were down slightly in its advanced performance materials business, though volumes were higher from a recent capacity expansion for its Teflon coatings products that more than offset weaker demand in the hydrogen market.
The company's titanium technologies unit saw a small downtick in volumes. Sales in its thermal and specialized solutions business meanwhile rose on a 7% jump in volumes from strong demand for its Opteon Refrigerant blends.
Chemours said it has been working to balance the impact of lower prices with savings from a cost-cutting plan and favorable inventory adjustments.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 18, 2025 06:30 ET (11:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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