Fourth Quarter and Full Year 2024 Conference Call Tronox Holdings plc February 13, 2025 Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2025 1 Presenters John Romano John Srivisal Chief Executive Officer Senior Vice President, Chief Financial Officer Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2025 2 Safe Harbor Statement and Non-U.S. GAAP Financial Terms Cautionary Statement about Forward-Looking Statements Statements in this presentation that are not historical are ...

Tronox (TROX) Q4 2024 Earnings Call February 13, 2025 09:00 AM ET Company Participants Jennifer Guenther - Chief Sustainability Officer & Head of Investor RelationsJohn Romano - CEOJohn Srivisal - Senior VP & CFOJosh Spector - Executive DirectorDavid Begleiter - Managing DirectorFrank Mitsch - PresidentMichael Leithead - Director - Equity ResearchJohn Roberts - Managing DirectorHassan Ahmed - Co-Founder Conference Call Participants John McNulty - MD - Chemicals AnalystPete Osterland - Equity Research Analys ...

Revenue Performance - Fourth quarter 2024 revenue was $676 million, a decrease of 1% year-over-year, with TiO2 sales contributing $533 million and zircon sales increasing by 32% to $75 million [3][9][11]. - Full year 2024 total revenue reached $3,074 million, an 8% increase compared to the previous year, with adjusted EBITDA of $564 million and an adjusted EBITDA margin of 18.3% [3][16]. - Net sales for Q4 2024 were $676 million, a decrease of 1.5% from $686 million in Q4 2023, while total net sales for the year increased by 7.9% to $3,074 million from $2,850 million in 2023 [28]. - Net sales for the year ended December 31, 2024, were $3,074 million, an increase from $2,850 million in 2023, representing a 7.9% growth [38]. Profitability and Earnings - The company reported a net loss of $30 million for Q4 2024, improving from a net loss of $56 million in Q4 2023, with adjusted diluted earnings per share of $0.03 [3][13]. - Adjusted EBITDA for Q4 2024 was $129 million, a 37% increase year-over-year, with a margin of 19.1% [3][14]. - Gross profit for Q4 2024 was $117 million, up 50% from $78 million in Q4 2023, contributing to a total gross profit of $515 million for the year, compared to $462 million in 2023 [28]. - Adjusted net income attributable to Tronox Holdings plc for Q4 2024 was $4 million, contrasting with an adjusted net loss of $60 million in Q4 2023 [29]. - Adjusted EBITDA for the year ended December 31, 2024, was $564 million, compared to $524 million in 2023, reflecting a 7.6% increase [38]. - Net loss for the year ended December 31, 2024, was $54 million, improving from a net loss of $314 million in 2023, a reduction of 82.8% [38]. - Net loss as a percentage of net sales for the year ended December 31, 2024, was (1.8)%, improving from (11.0)% in 2023 [38]. Future Projections - For 2025, the company expects revenue between $3.0 billion and $3.4 billion and adjusted EBITDA between $525 million and $625 million [6][19]. - Capital expenditures for 2025 are projected to be between $375 million and $395 million, with free cash flow expected to remain relatively flat [6][19]. - The company has identified $125 million to $175 million in sustainable cost improvements achievable by the end of 2026 [6][19]. Cash Flow and Capital Expenditures - Cash provided by operating activities for the year was $300 million, compared to $184 million in 2023, reflecting improved operational efficiency [36]. - Capital expenditures for the year totaled $370 million, significantly higher than $261 million in 2023, indicating increased investment in growth initiatives [28]. Debt and Liquidity - Total debt at the end of 2024 was $2.9 billion, with available liquidity of $578 million [3][17]. - Long-term debt remained relatively stable at $2,759 million as of December 31, 2024, compared to $2,786 million in 2023 [34]. - Net debt as of December 31, 2024, was $2,708 million, an increase from $2,551 million in 2023 [38]. - Net debt to trailing-twelve month Adjusted EBITDA ratio improved to 4.8x from 4.9x [38]. - Interest expense for the year ended December 31, 2024, was $167 million, compared to $158 million in 2023, an increase of 5.7% [38]. Shareholder Returns - The company returned $80 million to shareholders in the form of dividends during 2024 [3][18]. Operational Efficiency - The company achieved $75 million in production cost improvements compared to Q4 2023, reflecting operational efficiencies [7][14]. - Total assets decreased to $6,038 million as of December 31, 2024, down from $6,134 million in 2023, primarily due to a reduction in cash and cash equivalents [34]. - The company’s weighted average shares outstanding increased to 158,262 thousand in Q4 2024 from 156,818 thousand in Q4 2023 [29]. - Long-term debt, net, as of December 31, 2024, was $2,759 million, slightly down from $2,786 million in 2023 [38].

Company Performance - Tronox reported quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.05 per share, compared to a loss of $0.38 per share a year ago, indicating an earnings surprise of -40% [1] - The company posted revenues of $676 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 1.39%, and down from $686 million year-over-year [2] - Over the last four quarters, Tronox has not surpassed consensus EPS estimates and has topped consensus revenue estimates only twice [2] Stock Outlook - Tronox shares have lost about 1.2% since the beginning of the year, while the S&P 500 has gained 3.2% [3] - The current consensus EPS estimate for the coming quarter is $0.16 on revenues of $788.95 million, and for the current fiscal year, it is $0.76 on revenues of $3.24 billion [7] - The estimate revisions trend for Tronox is currently unfavorable, resulting in a Zacks Rank 5 (Strong Sell), indicating expected underperformance in the near future [6] Industry Context - The Chemical - Diversified industry, to which Tronox belongs, is currently in the bottom 11% of over 250 Zacks industries, suggesting a challenging environment for stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Core Viewpoint - Tronox Holdings plc reported its fourth quarter financial results for 2024, showing a mixed performance with a slight decline in revenue but significant improvements in operational efficiency and cost management [1][4][6]. Financial Performance - Fourth quarter revenue was $676 million, a decrease of 1% year-over-year, primarily due to unfavorable average selling prices and product mix impacts on TiO2 and zircon [3][8]. - TiO2 revenue increased by 3% to $533 million, driven by a 4% increase in volumes, despite a 1% decline in average selling prices [9]. - Zircon revenue surged by 32% to $75 million, supported by a 43% increase in volumes, although offset by an 11% decrease in average selling prices [10]. - The company reported a net loss of $30 million for the quarter, an improvement from a net loss of $56 million in the same period last year [12][15]. - Adjusted EBITDA for the quarter was $129 million, reflecting a 37% increase year-over-year, with an adjusted EBITDA margin of 19.1% [13][18]. Operational Highlights - The company achieved $75 million in production cost improvements compared to Q4 2023, contributing to the improved adjusted EBITDA [4][6]. - Tronox launched a cost improvement plan targeting sustainable savings of $125-175 million by the end of 2026, focusing on enhancing cost efficiency and optimizing asset performance [7][18]. Full Year Overview - For the full year 2024, Tronox reported total revenue of $3,074 million, an 8% increase year-over-year, with an adjusted EBITDA of $564 million, also up 8% from the previous year [15][18]. - The company returned $80 million to shareholders in the form of dividends during the year [17]. Outlook - For 2025, Tronox expects revenue to be in the range of $3.0-3.4 billion, driven by improving TiO2 and zircon volumes, with adjusted EBITDA projected between $525-625 million [6][18]. - Capital expenditures for 2025 are anticipated to be between $375-395 million, with free cash flow expected to remain relatively flat [18].

Tronox (TROX) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 12. O ...

STAMFORD, Conn., Jan. 23, 2025 /PRNewswire/ -- Tronox Holdings plc (NYSE: TROX) announced today the following schedule for its fourth quarter 2024 earnings release and webcast conference call:Earnings Release: Wednesday, February 12, 2025, after the market close via PR Newswire and the Tronox Holdings plc website: tronox.comWebcast Conference Call: Thursday, February 13, 2025, at 9:00 AM ET (New York). The live call is open to the public and can be accessed via live webcast and teleconference. Please visit ...

STAMFORD, Conn., Oct. 30, 2024 /PRNewswire/ -- Tronox Holdings plc (NYSE: TROX), the world's leading integrated manufacturer of titanium dioxide pigment, announced today that its Board of Directors declared a quarterly dividend of $0.125 per share. The dividend is payable on December 13, 2024 to shareholders of record at the close of business on November 11, 2024.About TronoxTronox Holdings plc is one of the world's leading producers of high-quality titanium products, including titanium dioxide pigment, spe ...

Tronox Holdings plc (NYSE:TROX) Q3 2024 Earnings Conference Call October 25, 2024 8:00 AM ET Company Participants Jennifer Guenther - IR John D. Romano - CEO John Srivisal - SVP and CFO Conference Call Participants John McNulty - BMO Capital Markets Joshua Spector - UBS Investment Bank David Begleiter - Deutsche Bank Patrick Fischer - Goldman Sachs John Roberts - Mizuho Securities Jeffrey Zekauskas - J.P. Morgan Chase Hassan Ahmed - Alembic Global Advisors Michael Leithead - Barclays Bank Roger Spitz - Bank ...

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 September 30, 2024 OR ☐ TRANSITION 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- ...