Chemours (NYSE:CC) just spiked nearly 17% today, sparking investor interest as the company posted solid Q3 2024 results and outlined a fresh strategy for growth. With $1.5 billion in net sales, Chemours showcased strong demand in its Thermal & Specialized Solutions (TSS) segment, especially for Opteon refrigerants, which surged 21% as the market pivots toward eco-friendly cooling solutions. While a $56 million impairment in its Advanced Performance Materials (APM) unit pulled net income down to a $27 million loss, adjusted earnings hit $0.40 per shareeasily outpacing Wall Street's expectations.

• Warning! GuruFocus has detected 8 Warning Signs with CC.

TSS wasn't the only segment pulling its weight. Titanium Technologies (TT) racked up a 23% bump in adjusted EBITDA, benefiting from Chemours' aggressive Transformation Plan cost cuts, despite lingering challenges like softer Freon pricing and currency shifts. Looking ahead to Q4, Chemours warned of seasonal slowdowns in refrigerants, but the company's strategic focus on next-gen markets and high-demand areas like data center cooling promises a robust foundation for future growth.

In a bold play for long-term value, Chemours' new Pathway to Thrive strategy aims to carve out over $250 million in cost savings by 2027 while zeroing in on high-return growth areas. Even with shares down for the year, this recent rally highlights investor optimism around Chemours' smart portfolio shifts and disciplined spending. Positioned as a sustainable leader in essential chemistries, Chemours is primed to take on emerging markets, and investors are keeping a close watch on its next moves.