APM sales increased sequentially by 14%, with a 20% increase in advanced materials sales and adjusted EBITDA margin rising from 11% to 14%.
Chemours delivered strong Q2 2025 results, surpassing expectations with improved performance across all three business segments: TSS, TT, and APM.
Operational issues in TT and APM caused some disruptions but were addressed with corrective actions.
The company reached a $250 million net present value settlement with New Jersey for environmental claims, funded largely by insurance proceeds and restricted cash.
TSS net sales of Opteon Refrigerants grew 65% year-over-year, with a 35% adjusted EBITDA margin, driven by the 2025 U.S. AIM Act transition mandate and seasonal demand.
TT segment net sales increased 10% sequentially with a 9% volume increase but flat pricing, despite operational disruptions.
Free cash flow was $78 million, a significant increase compared to last year, representing a cash conversion of 108%.
Interest and other expenses were $44 million, $29 million higher than last year due to ESG acquisition financing interest.
Liquidity remained strong with $1.2 billion at quarter end, no debt maturities until 2029.
Operating margin declined 310 basis points year-over-year, consistent with planned sequential improvement of 190 basis points.
Returned capital to shareholders with $21 million stock repurchase and $11 million dividends in Q2.
Segment results: Aerials sales of $607 million with improved operating margin sequentially; MP sales of $454 million with 12.7% operating margin; Environmental Solutions sales of $430 million with 19.1% operating margin.
Terex delivered earnings per share of $1.49 on sales of $1.5 billion with an operating margin of 11% in Q2 2025.
Total net sales grew 8% year-over-year or 7% at constant exchange rates, with legacy sales declining by 12% excluding ESG.
Adjusted EBITDA for Q2 was $96 million compared to $165 million a year ago.
Adjusted EPS was $0.43 compared to $0.85 in 2024.
Cash and marketable securities were $2.3 billion at June 30, down from $2.5 billion at March 31.
Consolidated new awards for the second quarter were $1.8 billion and 72% reimbursable.
Consolidated segment profit for Q2 was $78 million.
Energy Solutions segment profit was $15 million compared to $75 million a year ago, impacted by an unexpected $31 million arbitration ruling.
For the first half of 2025, new awards were $7.6 billion with a book-to-burn PGM above 1.
GAAP results include a $3.2 billion pretax mark-to-market gain and a $31 million unfavorable arbitration ruling.
Mission Solutions reported a segment profit of $35 million for the second quarter compared to $41 million a year ago.
Operating cash flow for the quarter was an outflow of $21 million compared to cash generation of $282 million a year ago.
Revenue for the second quarter was $4 billion.
Share repurchases totaled $153 million for 4 million shares in the second quarter.
Total backlog remains around $28 billion, of which 80% is reimbursable.
Urban Solutions reported profit of $29 million in the second quarter, reflecting a $54 million net impact of cost growth and expected recoveries on 3 infrastructure projects.
Dafinchi