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Tronox(TROX) - 2025 Q1 - Earnings Call Presentation

Financial Performance - Revenue decreased by 5% year-over-year to $738 million but increased by 9% quarter-over-quarter [10, 16] - Adjusted EBITDA decreased by 15% year-over-year to $112 million and decreased by 13% quarter-over-quarter [10, 23] - The company reported a net loss attributable to Tronox of $111 million, which includes $87 million of restructuring and other charges related to the idling of the Botlek plant [10, 12] - Free cash flow was a use of $142 million in Q1 2025 [10, 12] Operational Highlights - TiO2 volumes increased by 12% quarter-over-quarter but decreased by 1% year-over-year [9, 16, 20] - Zircon volumes decreased by 6% quarter-over-quarter and 15% year-over-year due to continued demand weakness [9, 16, 20] - TiO2 and zircon prices decreased by 2% quarter-over-quarter [9] Strategic Actions and Outlook - The company expects to achieve $25-35 million run-rate cost improvements by the end of 2025 and $125-175 million by the end of 2026 through its cost improvement program [9, 36] - The idling of the Botlek plant is expected to improve EBITDA by over $30 million annually from 2026 onwards [9, 34] - Capital investments in mining projects are on track to improve the mining cost profile by $50-60 million in 2026 [9, 42] - The company anticipates revenue between approximately $3 billion and $34 billion and adjusted EBITDA between approximately $525 million and $625 million for the full year 2025 [43]