Chemours Forecasts Strong 2026 Cooling Season Refrigerant Demand
Key Highlights
- Refrigerants segment saw a 12% increase in Opteon sales and a 67% rise in Freon sales, driven by North American automotive demand and transition to Opteon refrigerants.
- Segment EBITDA for Thermal & Specialized Solutions grew 35%, with margins improving to 33%, though higher R32 costs partially offset earnings.
- The company projects Q2 net sales to grow 15-20% sequentially, with EBITDA between $220 million and $250 million, supported by seasonal refrigerant demand.
WILMINGTON, Delaware — The Chemours Company reported first-quarter 2026 results showing continued growth in its refrigerants business, with record performance in its Thermal & Specialized Solutions segment driven by increased adoption of Opteon refrigerants and higher Freon refrigerant sales.
Chemours reported first-quarter net sales of $1.4 billion, up 1% from the same period in 2025. Adjusted EBITDA increased to $169 million from $166 million a year earlier.
The company reported a net loss attributable to Chemours of $29 million, compared to a net loss of $5 million in the prior-year quarter. According to Chemours, the larger loss was primarily tied to higher financing costs and increased selling, general, and administrative expenses.
Thermal & Specialized Solutions generated first-quarter net sales of $568 million, a 22% increase from the prior-year quarter. Opteon refrigerant sales increased 12% year over year to $313 million, while Freon refrigerant sales rose 67% to $162 million.
Chemours said the increase was driven by higher automotive Freon refrigerant sales in North America and continued transition demand for Opteon refrigerants. Segment Adjusted EBITDA increased 35% to $190 million, while EBITDA margin improved to 33%.
The company noted that higher costs associated with R32, a component used in stationary Opteon refrigerant blends, partially offset earnings growth during the quarter.
Sequentially, Thermal & Specialized Solutions sales increased 28% from the fourth quarter of 2025, supported by seasonal refrigerant demand across all product categories.
Chemours also provided second-quarter guidance tied to the upcoming cooling season. The company expects consolidated net sales to increase between 15% and 20% sequentially, with Adjusted EBITDA projected between $220 million and $250 million.
For the Thermal & Specialized Solutions segment, Chemours expects net sales to increase in the low-to-mid teens percentage range during the second quarter, supported by seasonal demand for both Freon and Opteon refrigerants.
Outside of refrigerants, Chemours reported weaker results in its Titanium Technologies and Advanced Performance Materials businesses.
Titanium Technologies first-quarter net sales declined 6% year over year to $559 million, driven by lower titanium dioxide volumes in North America and certain non-western markets. Adjusted EBITDA for the segment declined 64% to $18 million.
Advanced Performance Materials net sales fell 17% to $243 million due primarily to production constraints tied to an outage at the Washington Works facility and the closure of the company’s SPS Capstone line in 2025. Segment Adjusted EBITDA declined 84% to $5 million.
Chemours said operating cash usage improved during the quarter, decreasing to $44 million compared to $112 million in the prior-year period.
In April 2026, Chemours completed the sale of nine parcels of land at its Kuan Yin site, generating approximately $287 million in net proceeds. The company used part of the proceeds and cash on hand to repay €140 million in debt and said additional debt repayments are expected later in 2026.
Chemours maintained its full-year 2026 outlook, projecting net sales growth between 3% and 5% and Adjusted EBITDA between $800 million and $900 million. The company said expectations are supported by continued demand growth in Thermal & Specialized Solutions and pricing momentum across key businesses.