Chemours’ Thermal & Specialized Solutions segment delivered record annual sales in 2025 as Opteon refrigerant shipments surged 56% year-over-year to represent 75% of total refrigerant volumes. In the fourth quarter, Opteon revenue climbed 37%, and TSS adjusted EBITDA margin improved to 32% from 31%, even after investing an additional $22 million in R&D.

The company generated $92 million in free cash flow in Q4, reflecting expense declines and inventory reduction actions, including certain non-cash charges and opportunistic product sales. Management highlighted progress on its operational excellence initiatives and expects a pending land sale to further accelerate debt reduction.

Chemours projects consolidated Q1 net sales to rise 3%–5% sequentially, driven by a 25%–30% increase in TSS sales and 30%–40% growth in Opteon volumes, with TSS EBITDA forecast at $170–185 million. Advanced Performance Materials faces a high-teen sales decline and a $20–25 million EBITDA hit from a Washington Works outage, while Titanium Technologies anticipates low-single-digit net sales declines, breakeven to $5 million EBITDA, and ongoing mining operation restructuring.