Delivered results within previously guided ranges STAMFORD, Conn., Aug. 1, 2024 /PRNewswire/ -- Tronox Holdings plc (NYSE:TROX) ("Tronox" or the "Company"), the world's leading integrated manufacturer of titanium dioxide ("TiO2") pigment, today reported its financial results for the quarter ending June 30, 2024, as follows: Second Quarter 2024 Financial Highlights: Produced revenue of $820 million, a 6% increase compared to the prior quarter, or a 3% increase compared to the prior year Generated income from ...

Reinforcing its carbon emission reduction targets, including reducing Scope 1 and 2 carbon emissions intensity by 50% by 2030 against a 2019 baseline and achieving carbon neutrality by 2050 and reducing Scope 3 carbon emissions by 9% by 2025 and 16% by 2030 against a 2021 baseline. The Company reduced its 2025 Scope 1 and 2 target to 25% (from 35%) to align with the latest anticipated timing of its second renewable project in South Africa, now expected to come online by 2027. Commissioning of a 200MW solar ...

Tronox Holdings plc (TROX) has entered into a long-term power purchase agreement with NOA Group ("NOA"), an integrated energy utility, for roughly 497GWh of total contracted energy. NOA's plants with capacity in excess of 200MW of renewable wind and solar power will serve Tronox's mines and smelters in the Republic of South Africa through fixed and flexible arrangements. The project is expected to be fully implemented by the end of 2027, reducing Tronox's total Scope 1 and 2 greenhouse gas emissions by an a ...

Tronox takes another significant step toward reducing its Scope 1 & 2 emissions with a ~200MW wind and solar power purchase agreement Today's announcement is another example of ongoing projects and investments being pursued by Tronox to meet its publicly announced goal to achieve net zero greenhouse gas emissions by 2050. This agreement is in addition to the 200MW solar power agreement announced in 2022 with SOLA Group ("SOLA"), which has been fully implemented as of April 2024 and is currently providing po ...

Tronox Holdings plc (NYSE:TROX) Q1 2024 Results Conference Call May 2, 2024 5:00 AM ET Company Participants Jennifer Guenther - Chief Sustainability Officer and Head, Investor Relations John Romano - CEO & Director John Srivisal - Senior Vice President & Chief Financial Officer Conference Call Participants David Begleiter - Deutsche Bank John McNulty - BMO Capital Markets Duffy Fischer - Goldman Sachs John Spector - UBS Frank Mitsch - Fermium Research Mike Leithead - Barclays Hassan Ahmed - Alembic Global J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the transition period from __________to ___________ 1-35573 (Commission file number) TRONOX HOLDINGS PLC (Exact Name of Registrant as Specified in its Charter) England and Wales 98-1467 ...

[Financial and Operational Highlights](index=1&type=section&id=Financial%20and%20Operational%20Highlights) Tronox's Q1 2024 results surpassed expectations, with revenue of $774 million and Adjusted EBITDA of $131 million, forecasting Q2 growth [First Quarter 2024 Financial Highlights](index=1&type=section&id=First%20Quarter%202024%20Financial%20Highlights) Q1 2024 Key Financial Metrics | Metric | Value (million USD) | Comparison (QoQ) | Comparison (YoY) | | :--- | :--- | :--- | :--- | | Revenue | $774 | +13% | +9% | | Income from Operations | $41 | - | - | | Net Loss | $9 | - | - | | Adjusted Net Loss (non-GAAP) | $7 | - | - | | GAAP Diluted Loss Per Share | $0.06 | - | - | | Adjusted Diluted Loss Per Share (non-GAAP) | $0.05 | - | - | | Adjusted EBITDA (non-GAAP) | $131 | - | - | | Adjusted EBITDA Margin (non-GAAP) | 16.9% | - | - | | Capital Expenditures (million USD) | $76 | - | - | [Second Quarter 2024 Outlook](index=1&type=section&id=Second%20Quarter%202024%20Outlook) - The company provides the following guidance for Q2 2024: - **TiO2 volumes:** Expected to increase **7-10%** compared to Q1 2024 - **Zircon volumes:** Expected to be relatively flat compared to Q1 2024 - **Adjusted EBITDA:** Expected to be in the range of **$160-180 million** - **Adjusted EBITDA margin:** Expected to be in the range of **20%**[2](index=2&type=chunk) [CEO's Remarks and Outlook](index=2&type=section&id=CEO%27s%20Remarks%20and%20Outlook) The CEO attributed strong Q1 performance to lower production costs, completed destocking, and robust demand, anticipating continued margin improvement - Q1 performance was stronger than anticipated due to lower production costs, demand outpacing seasonal levels, and the completion of supply chain destocking[6](index=6&type=chunk) - Demand improved across all regions, with notable outperformance in Europe, the Middle East, Africa, and Latin America[6](index=6&type=chunk) - Manufacturing costs improved compared to both the prior year and prior quarter as the company increased operating rates in response to market recovery[7](index=7&type=chunk) - The CEO stated that Q1 was a "true inflection point" and expects trends in both market demand and cost reduction to continue, leading to a "step change in earnings power"[7](index=7&type=chunk) [Detailed Financial Performance Analysis](index=3&type=section&id=Detailed%20Financial%20Performance%20Analysis) Q1 2024 revenue grew 9% YoY to $774 million, with Adjusted EBITDA up 39% sequentially to $131 million, ending with $2.7 billion net debt [Overall Performance](index=3&type=section&id=Overall%20Performance) Q1 2024 Performance Summary | Metric | Q1 2024 | YoY Change | QoQ Change | | :--- | :--- | :--- | :--- | | Revenue (million USD) | $774 | +9% | +13% | | Net Loss (million USD) | ($9) | n/m | n/m | | Adjusted EBITDA (million USD) | $131 | -10% | +39% | | Adjusted EBITDA Margin | 16.9% | -370 bps | +320 bps | - The year-over-year decrease in Adjusted EBITDA was driven by headwinds from product pricing and mix, partially offset by higher sales volumes and improved production absorption[13](index=13&type=chunk) - The sequential increase in Adjusted EBITDA was due to improved production absorption, absence of non-repeating charges from Q4, and higher sales volumes[14](index=14&type=chunk) [Segment Performance](index=3&type=section&id=Segment%20Performance) - **TiO2:** Revenue increased **8% YoY** to **$605 million**, driven by an **18% volume increase**, partially offset by a **10% decrease** in average selling prices[9](index=9&type=chunk) - **Zircon:** Revenue increased **22% YoY** to **$88 million**, driven by a **43% volume increase**, partially offset by a **21% decrease** in average selling prices[10](index=10&type=chunk) - **Other Products:** Revenue decreased **26% sequentially** to **$81 million**, primarily due to non-repeating opportunistic sales of ilmenite and rare earths tailings in Q4 2023[11](index=11&type=chunk) [Balance Sheet and Cash Flow](index=4&type=section&id=Balance%20Sheet%20and%20Cash%20Flow) - Ended Q1 with total debt of **$2.8 billion**, net debt of **$2.7 billion**, and a net leverage ratio of **5.2x** on a trailing twelve-month basis[16](index=16&type=chunk) - Total available liquidity was **$629 million**, consisting of **$152 million** in cash and **$477 million** available under revolving credit agreements[16](index=16&type=chunk) - Free cash flow was a use of **$105 million**, primarily due to higher working capital needs from improved sales. Capital expenditures were **$76 million**[17](index=17&type=chunk) [Corporate Updates](index=5&type=section&id=Corporate%20Updates) Tronox advanced sustainability by activating a 200 MW solar project in South Africa, reducing carbon emissions intensity by 13%, and announced its Q1 2024 earnings call [Sustainability Initiatives](index=5&type=section&id=Sustainability%20Initiatives) - Tronox began receiving power from a **200 MW** solar project in South Africa, which is projected to reduce the company's global Scope 1 and Scope 2 carbon emissions intensity by **13%**[18](index=18&type=chunk) - The company reaffirmed its commitment to achieve "net zero" by **2050** in its upcoming 2023 Sustainability Report[18](index=18&type=chunk) [Conference Call Information](index=5&type=section&id=Conference%20Call%20Information) - A webcast conference call to discuss the Q1 2024 results was scheduled for Thursday, May 2, 2024, at 8:00 AM ET[19](index=19&type=chunk) [Appendix: Financial Statements and Reconciliations](index=9&type=section&id=Appendix%3A%20Financial%20Statements%20and%20Reconciliations) This appendix provides unaudited condensed consolidated financial statements for Q1 2024, including core financial statements and non-GAAP reconciliations [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2024 Statement of Operations (in millions) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net sales | $774 | $708 | | Gross profit | $120 | $133 | | Income from operations | $41 | $62 | | Net (loss) income | ($9) | $25 | | Net (loss) income attributable to Tronox | ($9) | $23 | | Diluted (loss) earnings per share | ($0.06) | $0.15 | [Condensed Consolidated Balance Sheets](index=11&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Summary (in millions) | Line Item | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $152 | $273 | | Total current assets | $2,159 | $2,135 | | Total assets | $6,022 | $6,134 | | Total current liabilities | $691 | $753 | | Long-term debt, net | $2,780 | $2,786 | | Total liabilities | $4,097 | $4,154 | | Total equity | $1,925 | $1,980 | [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2024 Cash Flow Summary (in millions) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Cash used in operating activities | ($29) | ($79) | | Cash used in investing activities | ($76) | ($91) | | Cash (used in) provided by financing activities | ($12) | $120 | | Net decrease in cash | ($119) | ($49) | [Non-GAAP Reconciliations](index=10&type=section&id=Non-GAAP%20Reconciliations) Reconciliation to Adjusted EBITDA (Q1 2024, in millions) | Line Item | Value | | :--- | :--- | | Net (loss) income (U.S. GAAP) | ($9) | | Interest expense | $42 | | Income tax provision | $11 | | Depreciation, depletion and amortization | $72 | | **EBITDA (non-U.S. GAAP)** | **$112** | | Adjustments | $19 | | **Adjusted EBITDA (non-U.S. GAAP)** | **$131** | Reconciliation to Free Cash Flow (Q1 2024, in millions) | Line Item | Value | | :--- | :--- | | Cash used in operating activities | ($29) | | Capital expenditures | ($76) | | **Free cash flow (non-U.S. GAAP)** | **($105)** |

TABLE OF CONTENTS UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to 1-35573 (Commission file number) TRONOX HOLDINGS PLC (Exact name of registrant as specified in its charter) | England and Wales | 98-1467236 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | 263 Tresser Boule ...

Tronox Holdings plc (NYSE:TROX) Q4 2023 Earnings Conference Call February 16, 2024 8:00 AM ET Company Participants Jennifer Guenther - Chief Sustainability Officer & Head-Investor Relations & Financial Planning John Romano - Co-Chief Executive Officer John Srivisal - Senior Vice President & Chief Financial Officer Jean-Francois Turgeon - Co-Chief Executive Officer Conference Call Participants John McNulty - BMO Capital Markets David Begleiter - Deutsche Bank James Cannon - UBS Duffy Fischer - Goldman Sachs ...

Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2024 12 Q&A Session Full Year 2023 Financial Highlights | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------|-------|------------------------------------------------------------------------|-------|---------------------|----------|-------------------------|--------| | Net sales | | Three Months Ended December 31, \n2023 \n$ 686 $ 649 $ 2,850 $ 3,454 | | \n2022 | 2023 | Year Ended Dec ...