Chemours Company (the) · NYSE:CC
Chemours Company (the) — Q1 2022 Earnings Presentation
19 slides from Chemours Company (the)'s earnings presentation, May 3, 2022
Slide 1: Chemours 1Q 2022 Earnings Presentation
Chemours 1Q 2022 Earnings Presentation May 2, 2022
Slide 2: Safe Harbor Statement and Other Matters
Safe Harbor Statement and Other Matters This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current exp
Slide 3: First Quarter 2022 Highlights
First Quarter 2022 Highlights Delivered strong 1Q results with Net Sales growth of 23% and Adjusted EBITDA growth of 50% Achieved exceptional results in TSS & APM, led by strong price, volume and mix enrichment Managing through prolonged ore constraints in TT, now expected to continue into 2H Comple
Slide 4: First Quarter 2022 Financial Summary
First Quarter 2022 Financial Summary ($ in millions unless otherwise noted) Year-Over-Year ∆ Net Sales up 23% to $1.8 billion 1Q22 1Q21 reflecting strength across the Yr/Yr portfolio Net Sales $1,764 $1,436 $328 GAAP EPS of $1.43 up $0.86 and Net Income1 $234 $96 $138 Adjusted EPS of $1.46 up $0
Slide 5: Adjusted EBITDA Bridge: 1Q22 versus 1Q21
Adjusted EBITDA Bridge: 1Q22 versus 1Q21 ($ in millions unless otherwise noted) • Price momentum driven by • Volumes increased • Higher variable costs strong demand due to across product lines, due to supply chain market dynamics in TSS, partially offset by auto issues, logistics and raw demand for
Slide 6: Liquidity Position
Liquidity Position ($ in millions unless otherwise noted) Gross debt $3.7B 1600 Q1’22 ending cash balance Net debt $2.6B of $1,145 million TTM Net Leverage 1.8x 1400 $2 ($106) Breakeven Operating Cash Flow (~$2 million) as strong ($184) 2 operating earnings primarily 1200 offset by increased wor
Slide 7: Titanium Technologies Business Summary
Titanium Technologies Business Summary First Quarter Highlights Outlook Net Sales increased 28% to $928 million driven by 24% Continued demand strength expected in all end-markets contribution from price and a 6% contribution from and across all geographies increased volumes Expect demand stre
Slide 8: Thermal & Specialized Solutions Business Summary
Thermal & Specialized Solutions Business Summary First Quarter Highlights Outlook Delivered 40% Net Sales growth driven by strong demand Improved customer demand across all products, in line with and robust pricing across the business, despite continued normal seasonal patterns for the business
Slide 9: Advanced Performance Materials Business Summary
Advanced Performance Materials Business Summary First Quarter Highlights Outlook Record quarter – Net Sales and Adjusted EBITDA Customer and end market demand expected to remain strong around the world Net Sales increased by 16% driven by continued strength in demand and higher global average
Slide 10: Revised 2022 Guidance
Revised 2022 Guidance Adjusted Cash to EBITDA $1.475-$1.575 Billion Shareholders The majority of our FCF Current mid-point up 12% vs. prior guidance mid-point New $750 million share repurchase authorization thru 2025 and 16% from 2021 results Adjusted Key Factors and Assumptions1 EPS $5.04-$5.53 Low
Slide 11: Our Priorities for Creating Shareholder Value
Our Priorities for Creating Shareholder Value Improve TT earnings through the cycle while growing with strategic customers Drive secular growth in TSS and APM behind class leading products and innovative chemistry Continue to manage and resolve legacy liabilities consistent with Chemours/DD/CTVA MOU
Slide 12: Chemours trademark notice
©2022 The Chemours Company. Chemours™ and the Chemours Logo are trademarks or registered trademarks of The Chemours Company
Slide 13: Segment Net Sales and Adjusted EBITDA (Unaudited)
Segment Net Sales and Adjusted EBITDA (Unaudited) ($ in millions) Three Months Ended Three Months March 31, December 31, 2022 2021 2021 SEGMENT NET SALES Titanium Technologies $ 928 $ 723 $ 865 Thermal & Specialized Solutions 425 304 295 Advanced Performance Materials 385 333 346 Other Segment 26 76
Slide 14: GAAP Net Income to Adjusted Net Income, Adjusted EBITDA, and Adjusted EPS Reconciliations
GAAP Net Income Attributable to Chemours to Adjusted Net Income, Adjusted EBITDA, and Adjusted EPS Reconciliations (Unaudited) ($ in millions except per share amounts) Three Months Ended Three Months Ended March 31, December 31, 2022 2021 2021 $ amounts $ per share* $ amounts $ per share* $ amounts
Slide 15: Free Cash Flow Reconciliations (Unaudited)
Free Cash Flow Reconciliations (Unaudited) ($ in millions) Three Months Ended March 31, December 31, 2022 2021 2021 Cash flows provided by operating activities $ 2 $ 39 $ 214 Less: Purchases of property, plant, and equipment (106) (60) (83) Free Cash Flows $ (104) $ (21) $ 131 15
Slide 16: Net Leverage Ratio (Unaudited)
Net Leverage Ratio (Unaudited) As of March 31, ($ in millions) 2022 2021 Total debt principal $ 3,748 $ 4,027 Less: Cash and cash equivalents (1,145) (1,008) Total debt principal, net $ 2,603 $ 3,019 Twelve Months Ended March 31, ($ in millions) 2022 2021 Adjusted EBITDA (1) $ 1,448 $ 890 Net Levera
Slide 17: Estimated GAAP Net Income to Adjusted Net Income, Adjusted EBITDA and Adjusted EPS Reconciliation
Estimated GAAP Net Income Attributable to Chemours to Adjusted Net Income, Adjusted EBITDA and Adjusted EPS Reconciliation (Unaudited) (In millions except per share amounts) (Estimated) Year Ended December 31, 2022 Low High Net income attributable to Chemours $ 810 $ 890 Restructuring, transaction,
Slide 18: Estimated GAAP Operating Cash Flow to Free Cash Flow Reconciliations
Estimated GAAP Cash Flows Provided by Operating Activities to Free Cash Flow Reconciliations (Unaudited) ($ in millions) (Estimated) Year Ended December 31, 2022 Cash provided by operating activities $ >950 Less: Purchases of property, plant, and equipment ~(400) Free Cash Flows $ >550 The Company ’
Slide 19: Chemours trademark notice
©2022 The Chemours Company. Chemours™ and the Chemours Logo are trademarks or registered trademarks of The Chemours Company
Chemours Company (The) — Q1 2022 Earnings Presentation on 6ix