The Chemours Company has released its fourth quarter and year-end 2023 results, showcasing significant changes in its financial metrics. The company's net sales for the fourth quarter of 2023 were $1.7 billion, representing a 12% increase from the same period in the previous year. Moreover, the adjusted EBITDA for the fourth quarter of 2023 was reported at $310 million, reflecting a substantial 31% increase compared to the prior year.
On an annual basis, Chemours reported net sales of $6.3 billion for 2023, marking a 6% increase from 2022. The adjusted EBITDA for the full year 2023 was disclosed at $1.1 billion, demonstrating a notable 15% increase from the previous year.
In addition, the company's adjusted earnings per share (EPS) for the fourth quarter of 2023 stood at $1.05, revealing a 33% increase from the fourth quarter of 2022. For the full year 2023, the adjusted EPS was reported at $3.80, indicating a 28% increase from 2022.
Chemours' press release also highlighted the positive cash flow from operations, which amounted to $826 million for the full year 2023, showcasing a remarkable 45% surge from the prior year.
As a result of these announcements, the company's shares have moved -9.1% on the market, and are now trading at a price of $26.26. For the full picture, make sure to review Chemours's 8-K report.
