Chemours Cuts High End of 2026 Adjusted EBITDA Forecast by $25 Million

The Chemours Company reset its 2026 profit outlook Nov. 2, trimming $25 million from the high end of its adjusted EBITDA forecast while holding the low end at $775 million. The revised outlook also includes slower expected sales growth and a lower free-cash-flow conversion range.

Chemours now projects adjusted EBITDA of $775 million to $800 million, compared with its previous range of $775 million to $825 million. It expects net sales to rise about 2% from 2025, replacing its earlier estimate of 1% to 5% growth. The company anticipates a 2026 net leverage ratio below 4.2x, versus its August expectation of about 3.8x by year-end.

The 2026 capital-spending forecast is now $220 million to $230 million, down from $250 million to $280 million. Chemours estimates free-cash-flow conversion of 15% to 20%, compared with its previous forecast of more than 25%. The current cash-flow outlook includes a $150 million restricted-cash receipt tied to a PFAS insurance proceeds memorandum of understanding, partly offset by legal settlement payments and taxes related to the Kuan Yin property sale.

For the third quarter, net sales rose 3% year over year to $1.54 billion, and adjusted EBITDA increased 6% to $200 million. Titanium Technologies generated $85 million in adjusted EBITDA, up from $25 million a year earlier. Advanced Performance Materials posted $24 million, compared with $14 million.

Thermal & Specialized Solutions recorded $136 million in adjusted EBITDA, down 30%. Chemours attributed the drop mainly to lower North American aftermarket sales of Opteon blends for stationary air conditioning and higher costs.

As of Sept. 30, the company had $3.9 billion in gross debt and $698 million in unrestricted cash, leaving $3.2 billion in net debt. Its net leverage ratio was about 4.3x, calculated using adjusted EBITDA for the prior 12 months. Chemours identifies adjusted EBITDA, net leverage and free-cash-flow conversion as non-GAAP measures.