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Chemours ™ The Chemours Company Reports Strong Third Quarter Results and Increases Full - Year 2021 Outlook November 4 , 2021 Market strength and operational excellence drove strong quarterly performance , raising outlook as confidence builds WILMINGTON , Del . , Nov. 4 , 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 third quarter 2021 . Third Quarter 2021 Results & Highlights • Net Sales of $ 1.7 billion , up 36 % year - over - year • Net Income of $ 214 million with EPS of $ 1.27 , up $ 0.81 year - over - year • Adjusted Net Income * of $ 214 million with Adjusted EPS * of $ 1.27 , up $ 0.80 year - over - year • • Adjusted EBITDA * of $ 372 million , up 77 % year - over - year , resulting in Free Cash Flow of $ 244 million Repurchased $ 67 million of common stock during the quarter , repaid $ 108 million of debt principal , and funded $ 100 million escrow payment as per the MOU agreement • U.S. EPA established final rules for the phasedown of HFC refrigerants under the U.S. AIM Act designed to accelerate widespread use of climate friendly and energy efficient alternatives such as our low global warming potential Opteon ™ solutions • On October 27 , 2021 , the company's Board of Directors approved a fourth quarter dividend of $ 0.25 per share , consistent with the prior quarter 2021 Revised Outlook • Adjusted EBITDA * between $ 1,300 million and $ 1,340 million , vs. prior guidance in the top - end of $ 1,100 million to $ 1,250 million range • Adjusted EPS * between ~ $ 3.93 and $ 4.13 vs. prior guidance in the top - end of ~ $ 2.84 to $ 3.56 range • Free Cash Flow * now expected to be greater than $ 500 million vs. prior outlook of greater than $ 450 million . Capex guidance lowered to ~ $ 325 million from ~ $ 350 million previously , mainly driven by timing of projects " The Chemours team continues to demonstrate resilience along with a renewed focus on sustainable growth of our key businesses . We have met every challenge head on , continue to prioritize and serve our customers , and uphold our commitments to all stakeholders despite the difficult operating environment , " said Chemours President and CEO Mark Newman . " Our strong top line , bottom line and cash results in the quarter demonstrate the strength of this business and the progress we are making towards better quality of earnings and higher shareholder returns . I am confident that we have the right business strategies , an inspired group of leaders and empowered employees to consistently deliver across cycles and over time . " Third quarter 2021 Net Sales were $ 1.7 billion , 36 % higher than the prior - year quarter . 25 % volume growth was the primary driver of the better year - over - year sales performance with positive contributions from every segment . 11 % higher pricing and 1 % favorable currency translation more than offset a 1 % portfolio impact stemming from the exit of our Aniline business in the fourth quarter 2020. The 2 % sequential sales improvement was driven primarily by strengthening pricing trends across the portfolio . Volume declined 2 % quarter - over - quarter as strong market demand in most product categories was offset by certain customer production constraints , raw material availability , and typical seasonal factors across different parts of the portfolio . Third quarter Net Income was $ 214 million , or $ 1.27 of EPS . Adjusted Net Income was $ 214 million . Adjusted EPS was $ 1.27 , up $ 0.80 vs. the prior - year quarter . Adjusted EBITDA for the third quarter 2021 was $ 372 million in comparison to $ 210 million in the prior - year third 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 , raw material inflation , and higher performance - related compensation expense . Titanium Technologies Leading the industry in customer - centered service and reliability Titanium Technologies ( TT ) segment Net Sales in the third quarter were $ 908 million in comparison to $ 612 million in the prior - year quarter . Volume increased 33 % vs. the prior - year quarter , a result of solid demand in all regions and end - markets with strength across all selling channels . Sequentially , volumes were flat vs. the second quarter enabled by solid operating performance that enabled us to fully support the needs of our contracted customers . Segment price increased 14 % year - over - year and 6 % sequentially from the second quarter driven by gains in all selling channels supported by strong market conditions and contractual price increases . Currency was a 1 % year - over - year benefit in the quarter . Adjusted EBITDA increased by 73 % to $ 223 million , in comparison to $ 129 million in the prior - year third quarter . Adjusted EBITDA margins of 25 % improved 400bps