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Sep 30, 2022
Tronox Q3 2022 Earnings Report
Tronox's margin performance remained strong due to its vertically integrated portfolio, despite challenging market conditions.
Key Takeaways
Tronox reported Q3 2022 financial results with a 3% increase in revenue to $895 million, driven by higher prices and volumes in TiO2, zircon, and pig iron. The company generated a net income of $123 million, with a GAAP diluted EPS of $0.77 and adjusted diluted EPS of $0.69. Adjusted EBITDA was $247 million with a margin of 27.6%.
Revenue increased by 3% year-over-year to $895 million.
Income from operations was $163 million, and net income reached $123 million.
GAAP diluted EPS was $0.77, with adjusted diluted EPS at $0.69.
Adjusted EBITDA stood at $247 million, resulting in a 27.6% margin.
Revenue by Segment
Forward Guidance
Tronox anticipates Q4 2022 Adjusted EBITDA to be between $140 and $170 million, assuming a 25-30% sequential decline in TiO2 volumes due to customer destocking and one-time cost impacts from reduced production. The company expects full year 2022 free cash flow to be greater than $150 million.
Challenges Ahead
- Q4 2022 Adjusted EBITDA is expected to be $140-$170 million.
- TiO2 volumes are expected to decline 25-30% sequentially.
- Customer destocking in the fourth quarter is expected.
- One-time cost impacts are expected due to reduced production.
- Lower customer demand is anticipated.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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