Tronox Q2 revenue beats analyst expectations on higher volumes
TROX•Third-quarter outlook
Tronox expects third-quarter 2026 adjusted EBITDA of $95 million to $115 million.
The company said third-quarter TiO2 volumes are expected to be down moderately, in the mid-single-digit percentage range, in line with seasonal trends.
It expects meaningful positive free cash flow for full-year 2026, with the third quarter relatively neutral.
What drove the quarter
- 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.
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $868 million | $832.97 million (8 analysts) |
| Q2 Adjusted Loss Per Share | Miss | $0.51 | $0.38 (8 analysts) |
| Q2 Net Loss | $171 million | ||
| Q2 Adjusted EBITDA | Beat | $73 million | $71.81 million (8 analysts) |
| Q2 Adjusted EBITDA Margin | 8.40% | ||
| Q2 Income From Operations |
