Tronox(US:TROX)2025-02-13 13:30Revenue 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].