The Chemours Company (NYSE:CC) Q3 2023 Earnings Conference Call October 27, 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 - Senior Vice President and Chief Financial Officer

Conference Call Participants

Duffy Fischer - Goldman Sachs

John McNulty - BMO Capital Markets

Josh Spector - UBS

Hassan Ahmed - Alembic Global Advisors

Laurence Alexander - Jefferies

Vincent Andrews - Morgan Stanley

Operator

Good morning. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to The Chemours Company Third Quarter 2023 Results Conference 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, Rob. Good morning, everybody. Welcome to The Chemours Company’s third quarter 2023 earnings Q&A conference call. I’m joined today by Mark Newman, President and Chief Executive Officer; and 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

Thanks, Brandon, and good morning, everyone. Thanks for joining us. You know, 2023 has been a challenging year with a weaker second-half than we expected. But The Chemours team remains focused on driving long-term shareholder value and improvements in our three industry-leading businesses. Most of our year-over-year performance deterioration has been driven really by lower TT volumes, and we have responded with reductions of the TT Transformation Plan, which will shine through in 2024, as we see demand weakness decelerating.