WILMINGTON, Delaware — Chemours reported second-quarter 2026 financial results showing relatively flat sales while signaling that the North American refrigerant aftermarket is returning to more typical demand levels following last year's refrigerant transition under the U.S. American Innovation and Manufacturing (AIM) Act.

The company reported net sales of $1.591 billion during the quarter, down 1% from the same period in 2025. Pricing increases across its businesses helped offset lower sales volumes.

"Our second quarter results reflect disciplined execution across our portfolio, with Adjusted EBITDA near the high end of our guidance range and Free Cash Flows above our expectations despite a dynamic macroeconomic environment," said Denise Dignam, Chemours president and CEO. "Progress on pricing actions in Titanium Technologies to drive value, and increased sales in APM's high-value Performance Solutions portfolio supporting our momentum serving data center and semiconductor applications, and continued traction in our liquid cooling solutions, highlight our efforts to drive commercial excellence and growth."

Dignam continued, "Chemours also made meaningful progress strengthening its balance sheet through improved cash generation and reduced gross debt, while advancing resolution of notable legacy litigation. Looking ahead to the second half of the year, we remain focused on the actions within our control and committed to executing against our Pathway to Thrive strategy."

Within its Thermal & Specialized Solutions segment, which includes Opteon and Freon refrigerants, net sales declined 1% year over year to $591 million. Opteon refrigerant sales fell 10% compared to the second quarter of 2025, reflecting lower stationary air conditioning aftermarket demand in North America after elevated purchases last year associated with the initial distribution channel fill during the refrigerant transition.

Freon refrigerant sales increased 22% year over year, primarily due to higher pricing in automotive applications.

Despite lower Opteon sales, the Thermal & Specialized Solutions segment reported Adjusted EBITDA of $213 million, up 3% from the prior-year quarter. According to Chemours, higher pricing across the business offset lower refrigerant volumes.

Looking ahead, Chemours expects third-quarter Thermal & Specialized Solutions sales to decline sequentially by the mid-teens to 20% range. The company attributed the outlook to seasonal cooling demand patterns and continued weaker North American Opteon aftermarket demand resulting from elevated market inventory levels following the initial 2025 channel fill.

Overall, Chemours reported second-quarter free cash flow of $114 million, up from $50 million in the prior-year quarter, while maintaining its full-year 2026 guidance. The company continues to expect annual net sales growth of 1% to 5% over 2025 and Adjusted EBITDA between $775 million and $825 million.

According to Chemours, pricing momentum across its businesses, including Thermal & Specialized Solutions, remains an important contributor to its outlook, even as refrigerant demand returns to more normalized levels following last year's transition to lower-global warming potential refrigerants.