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EX - 99.1 2 cc - ex991_6.htm EX - 99.1 Chemours ™ The Chemours Company Reports Strong First Quarter Results and Increases Full - Year 2021 Outlook Raising 2021 Adjusted EBITDA and Free Cash Flow Guidance by $ 100 Million WILMINGTON , Del . , May 3 , 2021 / PRNewswire / -- The Chemours Company ( Chemours ) ( NYSE : CC ) , a global chemistry company with leading market positions in Titanium Technologies , Thermal & Specialized Solutions , Advanced Performance Materials , and Chemical Solutions today announces its financial results for the first quarter 2021 . First Quarter 2021 Results & Highlights Net Sales of $ 1.4 billion , up 10 % year - over - year Net Income of $ 96 million with EPS of $ 0.57 Adjusted Net Income * of $ 120 million with Adjusted EPS * of $ 0.71 Adjusted EBITDA * of $ 268 million Initiated strategic review of Mining Solutions EXHIBIT 99.1 Announced ambitious net zero climate goal On April 29 , 2021 , the company's Board of Directors approved a second quarter dividend of $ 0.25 per share , consistent with the prior quarter 2021 Revised Outlook Adjusted EBITDA * between $ 1.10 and $ 1.25 billion , up $ 100 million at the midpoint vs. prior outlook Adjusted EPS * between - $ 2.84 and $ 3.56 vs. prior expectation of - $ 2.40 and $ 3.12 Free Cash Flow * now expected to be greater than $ 450 million , up $ 100 million vs. prior outlook " We are off to a great start in 2021 as the broad economic recovery drove strong year - over - year and sequential volume growth across the majority of our portfolio , leading to the highest quarterly sales total in more than 2 - years , " said Chemours President and CEO Mark Vergnano . " This outcome was achieved despite managing through supply chain challenges and operational headwinds , most notably from Winter Storm Uri . Looking ahead , our strong 10 results and growing confidence in the outlook allows us to raise our 2021 full - year Adjusted EBITDA range by $ 100 million with Free Cash Flow now expected to be greater than $ 450 million . " First quarter 2021 Net Sales were $ 1.4 billion , 10 % higher than the prior - year quarter , which included a negative 1 % portfolio impact from the exit of the aniline business . 11 % volume growth was the primary driver of the better year - over - year sales performance with positive contributions from every segment , led by robust growth in Titanium Technologies and Advanced Performance Materials . The 7 % sequential sales improvement was supported by a global macro recovery that drove sales higher in Titanium Technologies , Thermal & Specialized Solutions , Advanced Performance Materials , and Chemical Solutions after accounting for portfolio changes . First quarter Net Income was $ 96 million , resulting in EPS of $ 0.57 . Adjusted Net Income was $ 120 million , resulting in Adjusted EPS of $ 0.71 , flat vs. the prior - year quarter . Adjusted EBITDA for the first quarter 2021 was $ 268 million in comparison to $ 257 million in the prior - year first quarter , a result of higher volume and favorable currency impact , partially offset by lower average pricing , under absorption of fixed costs stemming from Winter Storm Uri related plant shutdowns , and higher performance - related compensation . The cost impact of Winter Storm Uri , excluding the impact of lost sales , on Adjusted EBITDA is $ 9 million , mostly in Thermal & Specialized Solutions . Free Cash Flow improved $ 41 million vs. the prior - year quarter primarily driven by lower capital expenditures . * For information on our non - GAAP financial measures , please refer to the attached " Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures ( Unaudited ) "