Tronox Q2 Earnings Call Highlights
MarketBeat
Sun, August 9, 2026 at 4:33 PM GMT+5:30
7 min read
- TROX
-6.33%
Key Points
Interested in Tronox Holdings PLC? Here are five stocks we like better
Second-quarter revenue rose 19% year over year to $868 million, supported by higher TiO₂ and zircon volumes, but Tronox reported a $171 million net loss, including a $103 million deferred-tax valuation allowance. Adjusted EBITDA fell 22% to $73 million, while free cash flow reached $60 million
Sequential pricing and volumes improved, with TiO₂ revenue up 14% and zircon revenue up 9%; additional price increases are expected to drive third-quarter earnings growth. Tronox forecast third-quarter adjusted EBITDA of $95 million to $115 million despite moderately lower seasonal volumes
The company reduced inventory by roughly $120 million and remains on track for the high end of its $125 million–$175 million cost-improvement target by the end of 2026. India’s trade agency recommended reinstating duties on Chinese TiO₂, while Tronox continues evaluating its Australian rare-earth project, targeted for potential startup in late 2029
Value Alert: 3 High-Yield Stocks Trading at 52-Week Lows
Tronox (NYSE:TROX) reported second-quarter 2026 revenue of $868 million, up 19% from a year earlier, as higher titanium dioxide, or TiO2, and zircon volumes helped offset lower average zircon selling prices, including mix. The company posted a $21 million operating loss and a net loss attributable to Tronox of $171 million, which included a $103 million valuation allowance related to certain U.S. state deferred-tax assets
Adjusted EBITDA was $73 million, down 22% year over year but up 18% sequentially, while adjusted EBITDA margin was 8.4%. Adjusted diluted earnings per share was a loss of $0.51. The company generated $60 million of free cash flow during the quarter and reduced inventory by roughly $120 million from the first quarter, reaching its lowest inventory level since June 2024
Volumes and Pricing Improve Sequentially
→ Sandisk Just Delivered a Blowout Quarter—Here’s Why the Stock Is Falling
Chemical Maker Tronox Holds Above 10-Day Line After $4.3 Billion Buyout Offer
Chief Executive Officer John Romano said TiO2 volumes reached the high end of the company’s guidance range and were at their highest level since the second quarter of 2022. Zircon volumes exceeded expectations and surpassed the strong first-quarter level as industry supply remained constrained
Sequentially, TiO2 revenue rose 14%, reflecting a 9% volume increase and a 5% increase in average selling prices, including mix. Zircon revenue increased 9%, with volumes rising 4% and pricing increasing 5%. Romano said the pricing gains were primarily driven by base-price increases rather than temporary surcharges
