Tronox Q2 revenue beats analyst expectations on higher volumes

Tronox Holdings

05/08/2026 21:35

Overview
Titanium dioxide pigment maker's Q2 revenue rose 19% yr/yr, beating analyst expectations
Adjusted EBITDA for Q2 beat estimates but declined 22% yr/yr on higher costs, lower prices
Adjusted loss per share widened and missed analyst expectations

Outlook
Tronox expects Q3 2026 Adjusted EBITDA of $95-$115 mln
Company sees Q3 TiO2 volumes down moderately, mid-single-digit percentage, in line with seasonal trends
Company expects meaningful positive free cash flow for full year 2026, Q3 relatively neutral

Result Drivers
HIGHER SALES VOLUMES - Revenue growth was primarily driven by increased sales volumes of TiO2 and zircon
COST PRESSURES - Adjusted EBITDA declined due to higher production, freight and other costs, and unfavorable exchange rates, partly offset by higher volumes
PRICING ACTIONS - Sequential price increases for TiO2 and zircon contributed to improved results versus the prior quarter

Company press release: ID:nPn1Z25vra

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$868 mln
$832.97 mln (8 Analysts)
Q2 Adjusted Loss Per Share
Miss
$0.51
$0.38 (8 Analysts)
Q2 Net Loss
 
$171 mln
 
Q2 Adjusted EBITDA
Beat
$73 mln
$71.81 mln (8 Analysts)
Q2 Adjusted EBITDA Margin
 
8.40%
 
Q2 Income From Operations
 
-$21 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the specialty chemicals peer group is "buy."
Wall Street's median 12-month price target for Tronox Holdings PLC is $6.88, about 15.7% above its August 4 closing price of $5.94

Reuters Recommended Reads
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Aug 4 - Synthomer shares jump as UK specialty chemicals firm lifts 2026 outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)