It has been about a month since the last earnings report for Chemours (CC Quick QuoteCC - Free Report) . Shares have added about 7.5% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Chemours due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Chemours' Q2 Earnings & Revenues Lag Estimates on Lower Volumes

Chemours reported a net loss of $274 million or a loss of $1.81 per share for the second quarter of 2026. This compares favorably with the year-ago quarter’s net loss of $380 million or a loss of $2.53 per share.  

Barring one-time items, earnings were 42 cents per share, which missed the Zacks Consensus Estimate of 43 cents by roughly 2.3%. Adjusted earnings also declined from 61 cents per share in the year-ago quarter.  

The company reported second-quarter net sales of $1,591 million, reflecting a 1% decrease from the previous-year quarter. The figure missed the Zacks Consensus Estimate of $1,674.1 million by roughly 5%. Net sales were affected by a 4% decrease in volumes, partly offset by a 2% increase in price and a 1% favorable currency impact.  

Adjusted EBITDA declined 5% year over year to $247 million for the quarter from $260 million. The decrease was due to higher costs in APM associated with the Washington Works outage and lower sales following the SPS Capstone line closure, partly offset by pricing increases across all segments. 

Segment Highlights

The TT division recorded revenues of $661 million in the second quarter, marking a 1% increase from the previous year. The figure missed our estimate of $663.6 million. The year-over-year increase was driven by a 2% rise in global pricing and a 1% currency tailwind, which more than offset a 2% decline in global volumes.  

In the TSS segment, revenues decreased 1% year over year to $591 million in the reported quarter. The figure missed our estimate of $637.3 million. The decline was due to a 4% fall in volumes, partly offset by a 2% increase in price and a slight currency tailwind. Lower volumes primarily reflected weaker North American stationary AC aftermarket sales of Opteon blends compared with elevated demand in the prior-year quarter.  

TSS adjusted EBITDA increased 3% year over year to $213 million, while adjusted EBITDA margin improved one percentage point to 36%, aided by higher pricing and the timing of certain costs.  

Revenues in the APM unit amounted to $326 million, which declined 6% year over year. The figure missed our estimate of $338.2 million. The downside was mainly caused by a 9% decrease in volumes, partly offset by a 2% increase in price and a slight currency tailwind. The volume decline primarily reflected the SPS Capstone line closure, while Performance Solutions sales rose 8% year over year on strength in data center and semiconductor end markets.  

Financials

Operating cash flow in the second quarter was $158 million compared with $93 million in the year-ago quarter. Capital expenditures were $44 million compared with $43 million in the prior-year quarter. Free cash flow increased to $114 million from $50 million a year earlier.  

As of June 30, 2026, Chemours had consolidated gross debt of $3.9 billion. Debt, net of $671 million in unrestricted cash and cash equivalents, was $3.2 billion. Total liquidity was $1.6 billion, and the net leverage ratio was approximately 4.4.  

Outlook

For the third quarter, the company expects consolidated net sales to decline in the range of 5% to flat sequentially. Consolidated adjusted EBITDA is expected to be in the range of $175-$205 million. Corporate expenses are expected to be $40-$45 million. The company also expects capital expenditures of around $65 million and free cash flow of at least $50 million.  

Chemours expects TSS’ net sales to decrease sequentially in the mid-teens to 20% range in the third quarter, reflecting less favorable seasonality and weaker Opteon blends aftermarket demand. Adjusted EBITDA is projected to be between $125 million and $140 million.  

TT’s net sales are expected to increase sequentially in the low-to-mid-single-digit percentage range, driven by recent pricing announcements, with stable volumes. Adjusted EBITDA is expected to be in the range of $70-$80 million.  

APM’s net sales are expected to increase sequentially in the mid-to-high-single-digit percentage range, driven by normalized operations at Washington Works and continued strength in Performance Solutions. Adjusted EBITDA for APM is expected to be between $20 million and $30 million.  

For 2026, Chemours expects net sales to grow in the range of 1-5% year over year and adjusted EBITDA of $775-$825 million. Capital expenditures are expected in the range of $250-$280 million, with free cash flow conversion above 25%. The company continues to target a net leverage ratio of around 3.8x by year-end 2026.  

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed a downward trend in estimates revision.

The consensus estimate has shifted -46.39% due to these changes.

VGM Scores

Currently, Chemours has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of A on the value side, putting it in the top quintile for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Chemours has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Chemours belongs to the Zacks Chemical - Diversified industry. Another stock from the same industry, Air Products and Chemicals (APD Quick QuoteAPD - Free Report) , has gained 4.9% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Air Products and Chemicals reported revenues of $3.16 billion in the last reported quarter, representing a year-over-year change of +4.6%. EPS of $3.47 for the same period compares with $3.09 a year ago.

Air Products and Chemicals is expected to post earnings of $3.60 per share for the current quarter, representing a year-over-year change of +6.2%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.4%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Air Products and Chemicals. Also, the stock has a VGM Score of D.