$CC
Chemours Co

2024 Q2 Form 10-Q Financial Statement

#000095017024050551 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $1.538B $1.350B $1.361B
YoY Change -6.39% -12.11% 1.72%
Cost Of Revenue $1.232B $1.064B $1.106B
YoY Change -0.08% -8.9% -2.64%
Gross Profit $306.0M $286.0M $255.0M
YoY Change -25.37% -22.28% 26.24%
Gross Profit Margin 19.9% 21.19% 18.74%
Selling, General & Admin $139.0M $142.0M $223.0M
YoY Change -82.16% 14.52% 27.43%
% of Gross Profit 45.42% 49.65% 87.45%
Research & Development $26.00M $28.00M $26.00M
YoY Change -7.14% 7.69% -13.33%
% of Gross Profit 8.5% 9.79% 10.2%
Depreciation & Amortization $74.00M $71.00M $74.00M
YoY Change -5.13% -10.13% 0.0%
% of Gross Profit 24.18% 24.83% 29.02%
Operating Expenses $168.0M $174.0M $249.0M
YoY Change -79.18% 4.82% 21.46%
Operating Profit $138.0M $112.0M $6.000M
YoY Change -134.76% -44.55% -300.0%
Interest Expense $66.00M $63.00M -$73.00M
YoY Change -265.0% 50.0% 32.73%
% of Operating Profit 47.83% 56.25% -1216.67%
Other Income/Expense, Net -$1.000M $5.000M $4.000M
YoY Change -133.33% 400.0% 300.0%
Pretax Income $82.00M $67.00M -$71.00M
YoY Change -118.94% -61.27% 2.9%
Income Tax $12.00M $15.00M -$55.00M
% Of Pretax Income 14.63% 22.39%
Net Earnings $70.00M $52.00M -$18.00M
YoY Change -118.62% -64.14% -81.44%
Net Earnings / Revenue 4.55% 3.85% -1.32%
Basic Earnings Per Share $0.47 $0.35 -$0.12
Diluted Earnings Per Share $0.46 $0.34 -$0.12
COMMON SHARES
Basic Shares Outstanding 148.9M 149.0M 148.4M
Diluted Shares Outstanding 150.1M 150.1M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $604.0M $746.0M $1.203B
YoY Change -18.16% -8.58% 9.17%
Cash & Equivalents $604.0M $746.0M $1.203B
Short-Term Investments
Other Short-Term Assets $69.00M $668.0M $670.0M
YoY Change -77.0% 960.32% 717.07%
Inventory $1.368B $1.391B $1.352B
Prepaid Expenses $54.00M $61.00M $66.00M
Receivables $788.0M $692.0M $509.0M
Other Receivables $21.00M $19.00M $20.00M
Total Short-Term Assets $2.937B $3.597B $3.835B
YoY Change -12.95% 12.34% 19.32%
LONG-TERM ASSETS
Property, Plant & Equipment $3.157B $3.209B $3.216B
YoY Change -8.07% 0.91% 1.42%
Goodwill $102.0M $102.0M $102.0M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $169.0M $165.0M $158.0M
YoY Change -10.58% -10.81% -9.71%
Other Assets $630.0M $650.0M $677.0M
YoY Change 13.92% 29.48% 29.45%
Total Long-Term Assets $4.312B $4.381B $4.416B
YoY Change 0.61% -0.93% -0.23%
TOTAL ASSETS
Total Short-Term Assets $2.937B $3.597B $3.835B
Total Long-Term Assets $4.312B $4.381B $4.416B
Total Assets $7.249B $7.978B $8.251B
YoY Change -5.37% 4.64% 8.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $938.0M $963.0M $1.159B
YoY Change -4.19% -17.41% -7.35%
Accrued Expenses $382.0M $1.019B $1.058B
YoY Change -56.19% 239.67% 252.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $37.00M $41.00M $51.00M
YoY Change 48.0% 64.0% 104.0%
Total Short-Term Liabilities $1.557B $2.231B $2.486B
YoY Change -28.9% 27.85% 31.46%
LONG-TERM LIABILITIES
Long-Term Debt $3.951B $3.968B $3.987B
YoY Change 9.63% 10.25% 11.06%
Other Long-Term Liabilities $327.0M $331.0M $328.0M
YoY Change -67.23% 3.44% 2.82%
Total Long-Term Liabilities $4.278B $4.299B $4.315B
YoY Change -7.04% 9.7% 10.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.557B $2.231B $2.486B
Total Long-Term Liabilities $4.278B $4.299B $4.315B
Total Liabilities $6.524B $7.224B $7.512B
YoY Change -4.79% 12.95% 14.99%
SHAREHOLDERS EQUITY
Retained Earnings $1.828B $1.797B $1.782B
YoY Change -1.93% -21.12% -17.88%
Common Stock $2.000M $2.000M $2.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $723.0M $752.0M $737.0M
YoY Change
Total Liabilities & Shareholders Equity $7.249B $7.978B $8.251B
YoY Change -5.37% 4.64% 8.0%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $70.00M $52.00M -$18.00M
YoY Change -118.62% -64.14% -81.44%
Depreciation, Depletion And Amortization $74.00M $71.00M $74.00M
YoY Change -5.13% -10.13% 0.0%
Cash From Operating Activities -$620.0M -$290.0M $484.0M
YoY Change -1116.39% 143.7% 202.5%
INVESTING ACTIVITIES
Capital Expenditures $73.00M $102.0M $135.0M
YoY Change 25.86% 12.09% 101.49%
Acquisitions
YoY Change
Other Investing Activities $3.000M $1.000M $5.000M
YoY Change -250.0% -116.67% 150.0%
Cash From Investing Activities -$70.00M -$101.0M -$130.0M
YoY Change 16.67% 4.12% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -40.00M -54.00M -7.000M
YoY Change -45.21% -26.03% -96.32%
NET CHANGE
Cash From Operating Activities -620.0M -290.0M 484.0M
Cash From Investing Activities -70.00M -101.0M -130.0M
Cash From Financing Activities -40.00M -54.00M -7.000M
Net Change In Cash -730.0M -454.0M 347.0M
YoY Change 913.89% 60.42% -465.26%
FREE CASH FLOW
Cash From Operating Activities -$620.0M -$290.0M $484.0M
Capital Expenditures $73.00M $102.0M $135.0M
Free Cash Flow -$693.0M -$392.0M $349.0M
YoY Change -23200.0% 86.67% 275.27%

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