Chemours Co. Files Q3 2024 10-Q

TL;DR

Chemours Q3 10-Q filed. Financials updated, debt & environmental costs detailed.

AI Summary

Chemours Co. filed its 10-Q for the period ending September 30, 2024. The company reported its financial performance and condition, including details on its debt, environmental contingencies, and restructuring charges. Specific financial figures and operational details are presented within the filing.

Why It Matters

This filing provides investors and stakeholders with an update on Chemours' financial health and operational status, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — The filing details significant environmental contingencies and restructuring charges, which can pose financial risks.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the specific date for which financial information is reported.)
• 1231 — Fiscal Year End (Specifies the end date of the company's fiscal year.)

Key Players & Entities

• Chemours Co. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 1007 MARKET STREET (address) — Company's business and mail address
• WILMINGTON (location) — City of company's address
• DE (location) — State of company's address
• 19801 (postal_code) — Zip code of company's address
• 302 773 1000 (phone_number) — Company's business phone number

FAQ

Key Financial Figures

• $0.01 — nge on Which Registered Common Stock ($0.01 par value) CC New York Stock Exchan

Filing Documents

• cc-20240930.htm (10-Q) — 5712KB
• cc-ex22.htm (EX-22) — 8KB
• cc-ex31_1.htm (EX-31.1) — 13KB
• cc-ex31_2.htm (EX-31.2) — 13KB
• cc-ex32_1.htm (EX-32.1) — 6KB
• cc-ex32_2.htm (EX-32.2) — 6KB
• cc-ex95.htm (EX-95) — 42KB
• img172688883_0.jpg (GRAPHIC) — 17KB
• 0000950170-24-120270.txt ( ) — 25230KB
• cc-20240930.xsd (EX-101.SCH) — 2512KB
• cc-20240930_htm.xml (XML) — 6373KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 57 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 83 Item 4.

Controls and Procedures

Controls and Procedures 84 Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 88 Item 1A.

Risk Factors

Risk Factors 89 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 92 Item 3. Defaults Upon Senior Securities 92 Item 4. Mine Safety Disclosures 92 Item 5. Other Information 92 Item 6. Exhibits 93 Signature 94 1

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Item 1. INTERIM CONSOLIDATED FINANCIAL STATEMENTS The Chemours Company Interim Consolidated Statemen ts of Operations (Unaudited) (Dollars in millions, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 1,501 $ 1,487 $ 4,388 $ 4,666 Cost of goods sold 1,215 1,214 3,510 3,615 Gross profit 286 273 878 1,051 Selling, general, and administrative expense 135 165 416 1,067 Research and development expense 29 28 83 82 Restructuring, asset-related, and other charges 45 126 52 141 Goodwill impairment charge 56 — 56 — Total other operating expenses 265 319 607 1,290 Equity in earnings of affiliates 11 13 34 38 Interest expense, net ( 69 ) ( 55 ) ( 197 ) ( 145 ) Loss on extinguishment of debt — ( 1 ) — ( 1 ) Other income, net 7 102 10 100 (Loss) income before income taxes ( 30 ) 13 118 ( 247 ) (Benefit from) provision for income taxes ( 3 ) 1 24 ( 28 ) Net (loss) income ( 27 ) 12 94 ( 219 ) Less: Net income attributable to non-controlling interests — — — 1 Net (loss) income attributable to Chemours $ ( 27 ) $ 12 $ 94 $ ( 220 ) Per share data Basic (loss) earnings per share of common stock $ ( 0.18 ) $ 0.08 $ 0.63 $ ( 1.47 ) Diluted (loss) earnings per share of common stock ( 0.18 ) 0.08 0.63 ( 1.47 ) See accompanying notes to the interim consolidated financial statements. 2 The Chemours Company Interim Consolidated Statements of Comprehensive Income (Unaudited) (Dollars in millions) Three Months Ended September 30, 2024 2023 Pre-tax Tax After-tax Pre-tax Tax After-tax Net income (loss) $ ( 27 ) $ 12 Other comprehensive income (loss): Hedging activities: Unrealized (loss) gain on net investment he

View Full Filing

View this 10-Q filing on SEC EDGAR