Chemours Company (The)

noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again, press the star one. Thank you. Brandon Onchez, Vice President of FP&A and Investor Relations, you may begin your conference.

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 Locke. 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 filing. 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 with 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? Thanks, Brendan, 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. Our APM business is also seeing some demand weakness, especially in advanced materials. But we have achieved, again, double-digit growth. year to date of 11% in our performance solutions. And this business remains tied in to long-term secular gains in advanced electronics and clean energy, which we're hugely excited about. And then finally, our TSS business continued with strong performance with another record net sales. This is the seventh quarterly net sales record in a row. And as we look again to 2024, we have the step down in the AIM Act that's going to drive further opt-in adoption and beyond 24, optimization of immersion cooling in 2025. So again, we're excited about the work that's underway here at the company. And despite the challenging environment we see ourselves in, remain focused on what we have to do going forward into 2024. So with that, I'll turn it over to Rob to begin our Q&A.