(AOF) – Chemours is expected to decline significantly in pre-market trading on Wall Street after publishing a net loss of $18 million in the fourth quarter, or $0.12 per diluted share. The American chemist recorded turnover of $1.4 billion for the quarter, up 2% year-on-year. The group anticipates a 10% drop in sales from its Titanium division in the next quarter and a 15% drop in Ebitda, due to weak demand. Its Thermal Solutions division is expected to grow by 20%.
“Chemours endured a challenging year in 2023, marked by prolonged destocking in some key end markets, and these headwinds impacted our overall financial performance,” said Denise Dignam, CEO of Chemours.
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