05.06.21
Led by 10% gains in net sales year over year, The Chemours Company reported its financial results for the first quarter of 2021.
First quarter 2021 net sales were $1.4 billion, 10% higher than the prior-year quarter, driven by 11% volume growth, driven by the Titanium Technologies and Advanced Performance Materials segments. Adjusted EBITDA for the first quarter 2021 was $268 million in comparison to $257 million in the prior-year first quarter.
"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 two years," said Mark Vergnano, Chemours president and CEO.
"Looking ahead, our strong 1Q 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," added Vergnano.
In particular, Titanium Technologies (TT) segment net sales in the first quarter were $723 million in comparison to $613 million in the prior-year quarter. Volume increased 16% vs. the prior-year first quarter. Adjusted EBITDA increased by 22% to $169 million, in comparison to $138 million in the prior-year first quarter.
First quarter 2021 net sales were $1.4 billion, 10% higher than the prior-year quarter, driven by 11% volume growth, driven by the Titanium Technologies and Advanced Performance Materials segments. Adjusted EBITDA for the first quarter 2021 was $268 million in comparison to $257 million in the prior-year first quarter.
"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 two years," said Mark Vergnano, Chemours president and CEO.
"Looking ahead, our strong 1Q 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," added Vergnano.
In particular, Titanium Technologies (TT) segment net sales in the first quarter were $723 million in comparison to $613 million in the prior-year quarter. Volume increased 16% vs. the prior-year first quarter. Adjusted EBITDA increased by 22% to $169 million, in comparison to $138 million in the prior-year first quarter.