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Chemours ™ The Chemours Company Reports Strong Second Quarter Results July 29 , 2021 Recovery momentum continues across all segments WILMINGTON , Del . , July 29 , 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 second quarter 2021 . Second Quarter 2021 Results • Net Sales of $ 1.7 billion , up 51 % year - over - year • Net Income of $ 66 million with EPS of $ 0.39 . • Adjusted Net Income * of $ 205 million with Adjusted EPS * of $ 1.20 , up $ 1.02 year - over - year Adjusted EBITDA * of $ 366 million , up 120 % year - over - year • Free cash flow of $ 189 million , an increase of $ 139 million year - over - year • On July 28 , 2021 , the company's Board of Directors approved a third quarter dividend of $ 0.25 per share , consistent with the prior quarter Other Highlights • Announced appointment of Mark E. Newman as President and Chief Executive Officer of the Company effective July 1 , 2021 , following retirement of Mark P. Vergnano who has assumed the position of non - executive Chairman of the company's Board of Directors succeeding Richard H. Brown • Advanced our Corporate Responsibility Commitments ( CRC ) with publication of our 2020 CRC report • Signed definitive agreement to sell Mining Solutions business for $ 520 million · Expect 2021 Adjusted EBITDA and Adjusted EPS to be in the top end of our guidance ranges " We continue to execute well against our strategy and are driving improved performance across the portfolio . This quarter we have achieved multi - year highs for several key metrics on the back of improving demand , " said Chemours President and CEO Mark E. Newman . " I am particularly proud of the work our teams are doing to mitigate persistent supply chain challenges while continuing to prioritize the safety of our people during the ongoing pandemic . Strong operating performance , focus and accountability is a strength of this company . Our customers increasingly value Chemours as a trusted partner , especially in this period of strong demand . " Second quarter 2021 Net Sales were $ 1.7 billion , 51 % higher than the prior - year quarter . 46 % volume growth was the primary driver of the better year - over - year sales performance with positive contributions from every segment . 2 % higher pricing and 4 % favorable currency translation more than offset a 1 % portfolio headwind stemming from the exit of our Aniline business in the fourth quarter 2020. The 15 % sequential sales improvement was driven by our ability to meet demand from the continuing global macro recovery and favorable seasonal trends that drove sales higher in Titanium Technologies , Thermal & Specialized Solutions , Advanced Performance Materials , and Chemical Solutions . Second quarter Net Income was $ 66 million , or EPS of $ 0.39 . Adjusted Net Income was $ 205 million , which excludes a $ 169 million charge associated with onsite remediation at our Fayetteville site and a $ 25 million charge associated with the settlement of natural resource damage claims with the State of Delaware , resulting in Adjusted EPS of $ 1.20 , up $ 1.02 vs. the prior - year quarter . Adjusted EBITDA for the second quarter 2021 was $ 366 million in comparison to $ 166 million in the prior - year second quarter , a result of higher volume , pricing and a favorable currency impact , partially offset by incremental cost headwinds associated with higher plant fixed costs to increase production to meet higher demand , higher legacy environmental and legal costs , and higher performance - related compensation expense . Titanium Technologies Titanium Technologies ( TT ) segment Net Sales in the second quarter were $ 859 million in comparison to $ 488 million in the prior - year quarter . Volume increased 66 % vs. the prior - year second quarter , a result of solid demand in all regions and end - markets with strength across all selling channels . The 15 % quarter - over - quarter volume increase reflected strong customer demand for Ti - Pure ™ product and normalizing seasonal consumption . Our relationship with contracted customers is at the core of our TVS strategy ; we continue to serve contracted customers at the highest level while maximizing production levels to support overall demand . Price was a 5 % year - over - year benefit driven by gains in all selling channels . Sequentially , price improved 3 % supported by strong market conditions and contractual increases . Currency was a 5 % year - over - year benefit in the quarter . Adjusted EBITDA increased by 133 % to $ 219 million , in comparison to $ 94 million in the prior - year second quarter . Adjusted EBITDA margins of 25 % improved 600bps year - over - year driven by the volume led sales recovery , which more than offset higher year - over - year costs stemming from increased plant fixed costs to support demand growth , higher ore costs , and incremental expense associated with supply chain disruptions .