The Chemours Company (NYSE:CC) Q2 2023 Earnings Conference Call July 28, 2023 8:00 AM ET

Company Participants

Brandon Ontjes - Vice President of FP&A and Investor Relations

Mark Newman - President and Chief Executive Officer

Jonathan Lock - Chief Financial Officer

Conference Call Participants

Arun Viswanathan - RBC Capital Markets

James Cannon - UBS Group AG

Duffy Fischer - Goldman Sachs

John McNulty - BMO Capital Markets

Michael Leithead - Barclays

John Roberts - Credit Suisse

Jeff Zekauskas - JPMorgan Chase & Co.

Operator

Good morning. My name is Jeannie, and I will be your conference operator today. At this time, I would like to welcome everyone to The Chemours Company Second Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. Brandon Ontjes, Vice President of FP&A and Investor Relations. You may begin your conference.

Brandon Ontjes

Hi. Thanks, Jeannie. Good morning, everybody. Welcome to The Chemours Company’s second quarter 2023 earnings Q&A conference call. I’m joined today by Mark Newman, President and Chief Executive Officer; and our recently appointed Senior Vice President and Chief Financial Officer, Jonathan Lock.

Before we start, I’d like to remind you that comments made on this call, as well as in the supplemental information provided in our presentation and on our website, contain forward-looking statements that involve risks and uncertainties, as described in Chemours’ SEC filings. These forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events that may not be realized. Actual results may differ, and Chemours undertakes no duty to update any forward-looking statements as a result of future developments or new information.

During the course of this call, management will refer to certain non-GAAP financial measures that we believe are useful to investors evaluating the company’s performance. A reconciliation of non-GAAP terms and adjustments are included in our release and at the end of our presentation. As a reminder, our prepared remarks, a full transcript, plus our earnings deck have been posted to the Investor Relations section of our website along our earnings release. This morning’s call will focus purely on Q&A.

With that, I’ll turn the call over to our CEO, Mark Newman. Mark?

Mark Newman

Thank you, Brandon, and thank you all for joining us this morning. In addition to reporting solid results in the second quarter, as you saw from our press release, we had an active and productive quarter. In TSS, we had another all-time record quarter. And as you’ll note, in the last 6 quarters we’ve had 5 record quarters in TSS, which really speaks to the momentum and growth in this business. In APM, we had another double-digit growth quarter in our Performance Solutions business, and we launched THE Mobility F.C. Membranes Company, which will be focused on Nafion membranes for the fuel cell requirements of the hydrogen economy.