Chemours’ bottom line took a hit in its second quarter earnings report released Tuesday.
The Wilmington-based chemical company posted a net profit loss of $18 million for the quarter.
It’s the fourth time in five quarters since it separated from DuPont in July 2015 that its reported a loss.
Chemours' second quarter sales were also down. They dropped to $1.4 billion – off 8 percent from the same time a year ago. The company also reported that sales of its signature product titanium dioxide fell to $596 million – off 7 percent from last year.
Titanium dioxide is an ultra white pigment used to make refrigerators, sunscreen and other consumer goods. The company attributed its weaker sales to higher prices and weaker sale volumes in Asia and Latin America.
Chemours announced last week it’s decided to keep its headquarters in Wilmington. The company currently has 1,000 Delaware employees and will receive a grant of nearly 8 million dollars from the state as along as it maintains 900 jobs in the First State through 2020.
