Quarterly ResultMay 7, 2026, 05:32 PM
Tronox Q1 Revenue $760M, Net Loss $(103)M; Q2 Adj. EBITDA Outlook $65-85M
AI Summary
Tronox Holdings plc reported Q1 2026 revenue of $760 million, a 3% increase year-over-year, with net loss attributable to Tronox improving to $(103) million from $(111) million in the prior year. Adjusted EBITDA was $62 million, a 9% sequential increase. The company expects positive free cash flow in Q2 2026, largely offsetting Q1 cash use, and meaningful positive free cash flow for the full year. Q2 2026 Adjusted EBITDA is projected to be between $65 million and $85 million, with TiO2 and zircon volumes and pricing expected to improve.
Key Highlights
- Revenue increased 3% year-over-year to $760 million in Q1 2026.
- Net loss attributable to Tronox was $(103) million, or $(0.65) per diluted share.
- Adjusted EBITDA was $62 million, a 9% sequential increase, with an 8.2% margin.
- TiO2 sales rose 5% year-over-year to $616 million, driven by a 5% volume increase.
- Zircon revenue jumped 29% year-over-year to $89 million on 57% higher volumes.
- Free cash flow was a use of $(135) million, but is expected to be positive in Q2 2026.
- Q2 2026 Adjusted EBITDA is projected to be between $65 million and $85 million.
- Net debt stood at $3.2 billion, with a net leverage ratio of 11.1x.
Price Impact
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