Chemours Company (The)

Good morning and welcome to the Chemours Company first quarter 2023 earnings call. All participants are in a listen-only mode. After the speaker's presentation, we will conduct a question and answer session. To ask a question, you'll need to press star followed by the number one on your telephone keypad. As a reminder, this conference call is being recorded. I would now like to turn the call over to Jonathan Locke, SDP and Chief Development Officer. Thank you. Please go ahead.

Hi, thanks, Julianne, and good morning, everybody. Welcome to the Chemours Company's first quarter 2023 earnings Q&A conference call. I'm joined today by Mark Newman, President and Chief Executive Officer, and Sameer Rahan, Senior Vice President and Chief Financial Officer. 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 our 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 our website alongside 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.

Thank you, Jonathan, and thank you all for joining us this morning. Our strong performance in the first quarter is a testament to our secular growth thesis at work and the strength of our overall portfolio. TSS and APM continue to deliver products the world needs and which underpin many strategic as well as emerging technologies. Despite the challenges faced by our TT segment, we remain confident in a gradual recovery throughout the year with improvements in margins, moderating raw material costs, and cost optimization measures implemented across the portfolio. With a strong first quarter, we are reaffirming our full year guidance, but we acknowledge the uncertainty of the macro environment and its potential impact on the second half of the year. We're closely monitoring the situation, and we're prepared to adapt as necessary. With that, Julian, let's move to questions.