Tronox

TROX

Market cap $1.53B

Tronox's China exit, pricing push and rare-earths option set the stage for 2026, but weak margins and uneven demand still cloud the recovery path.

TROX navigates a TiO2 downturn as volumes rebound late 2025 and cost cuts, pricing moves set up cash flow recovery into 2026.

TROX has surged 76.8% and trades at a discount, but weak margins, high debt and cautious EBITDA outlook keep the buy case far from clear.

STAMFORD, Conn., April 9, 2026 /PRNewswire/ -- Tronox Holdings plc (NYSE: TROX) announced today the following schedule for its first quarter 2026 earnings release and webcast conference call: Earnings Release: Wednesday, May 6, 2026, after market close via PR Newswire and the Tronox Holdings plc website: tronox.com Webcast Conference Call: Thursday, May 7, 2026 at 9:00 AM ET (New York).

Tronox Holdings is rated Buy, driven by capital rotation into hard assets and anti-dumping catalysts favoring Western TiO₂ suppliers. TROX's recent 92% rally reflects both global anti-dumping actions and internal cost-cutting, positioning it to benefit from reduced Chinese exports. Operational improvements, including plant closures and CAPEX cuts, are expected to drive $125–$175M in run-rate savings and positive cash flow margins by FY 2026.

Tronox Holdings plc (TROX) Q4 2025 Earnings Call Transcript

While the top- and bottom-line numbers for Tronox (TROX) give a sense of how the business performed in the quarter ended December 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Tronox (TROX) came out with a quarterly loss of $0.6 per share versus the Zacks Consensus Estimate of a loss of $0.43. This compares to earnings of $0.03 per share a year ago.

STAMFORD, Conn., Feb. 18, 2026 /PRNewswire/ -- Tronox Holdings plc (NYSE:TROX) ("Tronox" or the "Company"), the world's leading integrated manufacturer of titanium dioxide pigment, today reported its financial results for the quarter ending December 31, 2025:  Fourth Quarter 2025 Financial Highlights: Revenue of $730 million Loss from operations of $114 million; Net loss attributable to Tronox of $176 million including $80 million of restructuring and other charges, net of taxes, primarily associated with the closure of the Company's Botlek and Fuzhou pigment plants; Adjusted net loss of $96 million (non-GAAP) Adjusted EBITDA of $57 million; Adjusted EBITDA margin of 7.8% (non-GAAP) GAAP diluted loss per share of $1.11; Adjusted diluted loss per share of $0.60 (non-GAAP) Full Year 2025 Financial Highlights: Revenue of $2,898 million Loss from operations of $253 million; Net loss attributable to Tronox of $470 million including $233 million of restructuring and other charges, net of taxes, primarily costs associated with the closure of the Company's Botlek and Fuzhou pigment plants; Adjusted net loss of $237 million (non-GAAP) Adjusted EBITDA of $336 million; Adjusted EBITDA margin of 11.6% (non-GAAP) GAAP diluted loss per share of $2.97; Adjusted diluted loss per share of $1.50 (non-GAAP) Capital expenditures of $341 million Outlook: Expect to generate positive free cash flow in 2026, primarily as a result of improving TiO2 pricing and volumes, lower capital expenditures, and targeted actions on working capital Q1 2026 TiO2 and zircon volumes expected to be relatively in-line with strong Q4 2025 volume levels TiO2 pricing expected to improve in Q1 2026 and zircon pricing expected to improve in Q2 2026 Q1 2026 Adjusted EBITDA expected to be $55-$65 million  This outlook is based on Tronox's views on current global economic activity and is subject to changes and impacts associated with the general macroeconomic and industry-related conditions, global supply chain, and inflation-related challenges, among others.

STAMFORD, Conn., Feb. 11, 2026 /PRNewswire/ -- Tronox Holdings plc (NYSE:TROX), the world's leading integrated manufacturer of titanium dioxide pigment, announced today that its Board of Directors declared a quarterly dividend of $0.05 per share.