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Jun 30, 2022
Tronox Q2 2022 Earnings Report
Delivered record earnings and strong margin performance
Key Takeaways
Tronox reported a revenue of $945 million, a 2% increase compared to the prior year, driven by higher revenue from TiO2. Net income was $375 million, which includes a $262 million non-cash benefit from the reversal of a portion of the valuation allowance in Australia. Adjusted EBITDA was $275 million with a margin of 29.1%.
Revenue increased by 2% year-over-year to $945 million, driven by higher TiO2 revenue.
Net income reached $375 million, including a $262 million non-cash benefit from an Australian valuation allowance reversal.
GAAP diluted EPS was $2.37, and adjusted diluted EPS was $0.84.
Adjusted EBITDA was $275 million, with an Adjusted EBITDA margin of 29.1%.
Revenue by Segment
Forward Guidance
Tronox anticipates relatively flat TiO2 volumes sequentially and an Adjusted EBITDA between $275 million and $295 million for Q3 2022.
Positive Outlook
- Q3 2022 TiO2 volumes expected to be relatively flat sequentially
- Q3 2022 Adjusted EBITDA expected to be $275-$295 million
- Reaffirm FY 2022 outlook from Investor Day: Adjusted EBITDA of $1.075 billion to $1.125 billion
- Reaffirm FY 2022 outlook from Investor Day: Adjusted EPS of $3.15 to $3.591
- Reaffirm FY 2022 outlook from Investor Day: Free cash flow greater than or equal to $300 million
Challenges Ahead
- Outlook is based on Tronox's views on current global economic activity and is subject to changes and impacts associated with the macroeconomic conditions
- Outlook is subject to changes and impacts associated with global supply chain
- Outlook is subject to changes and impacts associated with inflation-related challenges
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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