Tronox Holdings (TROX) Company Report

Tronox reported Q3 2025 revenue of $699 million, a 13% decrease year-over-year, and a net loss of $99 million (adjusted diluted EPS loss of $0.46). Adjusted EBITDA was $74 million, and free cash flow was a use of $137 million.
The quarter was impacted by weaker demand, downstream destocking, heightened competitive dynamics, and a temporary stay on anti-dumping duties in India. A significant zircon shipment was also rolled from Q3 to Q4.
The company is implementing a cost improvement program, on track to deliver over $60 million in annualized savings by the end of 2025, and targeting $125-$175 million by the end of 2026. Operational measures include temporarily idling the Fuzhou pigment plant, adjusting Stallingborough, and temporarily shutting down a Namaqua furnace and West mine.
For Q4 2025, Tronox expects revenue and adjusted EBITDA to be relatively flat to Q3, with TiO2 volumes projected to increase 3%-5% and zircon volumes 15%-20% sequentially. The company anticipates positive free cash flow in Q4 2025 and 2026.
Strategic initiatives include progress on anti-dumping duties in Brazil and Saudi Arabia, with India's duties expected to be reinstated. Tronox also took a 5% equity interest in Lion Rock Minerals in October to advance its rare earth strategy.

Nov 6, 2025, 2:00 PM

Transcript

Tronox Reports Q3 2025 Financial Results Amidst Weak Demand and Strategic Actions

TROX

Earnings

Demand Weakening

Guidance Update

For Q3 2025, Tronox reported a Net Loss attributable to Tronox of $99 million and an Adjusted diluted loss per share of $0.46, on revenue of $699 million and Adjusted EBITDA of $74 million. Free cash flow was a use of $137 million.
Q3 2025 results were impacted by persistent weak demand, increased downstream destocking, and heightened competitive dynamics, leading to TiO2 volumes declining 4% QoQ and 8% YoY.
The company enhanced liquidity by raising $400 million of secured notes in Q3 2025, bringing total debt to $3.2 billion as of September 30, 2025, with total available liquidity of $664 million.
Tronox is on track to deliver sustainable run-rate cost improvements of more than $60 million in 2025 and $125-$175 million by end of 2026. The Q4 dividend reflects an updated $0.05 per share level, following a 60% reduction.
For Q4 2025, Tronox expects revenue and Adjusted EBITDA to be flattish to Q3 2025, with anticipated sequential pricing headwinds for TiO2 down ~2% and zircon declining ~6%.

Nov 6, 2025, 2:00 PM

Presentation

Tronox Reports Q3 2025 Financial Results and Provides Q4 Outlook

TROX

Earnings

Guidance Update

Debt Issuance

Tronox reported Q3 2025 revenue of $699 million, marking a 13% decrease compared to the prior year, and a net loss attributable to Tronox of $99 million.
GAAP diluted loss per share was $0.63, and Adjusted EBITDA for the quarter was $74 million.
The company expects Q4 2025 revenue and Adjusted EBITDA to be relatively flat to Q3 2025, anticipating TiO2 volume growth of 3-5% and zircon volume growth of 15-20%, despite projected pricing headwinds.
Free cash flow was a use of $137 million in Q3 2025, but is expected to be a source in Q4 2025.
Strategic actions include a cost improvement program on track to deliver $60 million in annualized savings by the end of 2025 and raising $400 million in senior secured notes to strengthen the balance sheet.

Nov 6, 2025, 1:30 PM

8-K

Tronox Holdings Reports Q3 2025 Financial Results and Provides Q4 Outlook

TROX

Earnings

Guidance Update

Demand Weakening

Tronox Holdings plc reported Q3 2025 revenue of $699 million, marking a 4% decrease compared to the prior quarter and a 13% decrease compared to the prior year. The company recorded a net loss attributable to Tronox of $99 million and an adjusted diluted loss per share of $0.46.
Adjusted EBITDA for Q3 2025 was $74 million, representing a 20% sequential decrease and a 48% year-over-year decrease, with an Adjusted EBITDA margin of 10.6%. Free cash flow was a use of $137 million in the quarter.
For Q4 2025, Tronox expects revenue and Adjusted EBITDA to be relatively flat to Q3 2025, with free cash flow anticipated to be a source. This outlook assumes TiO2 volume growth of 3-5% and zircon volume growth of 15-20% sequentially, offset by pricing headwinds of approximately 2% for TiO2 and 6% for zircon.
The company strengthened its balance sheet by raising $400 million in senior secured notes and is ahead of schedule on its cost improvement program, aiming for over $60 million in annualized savings by the end of 2025.

Nov 5, 2025, 9:30 PM

Press Release

Tronox Holdings Faces Securities Class Action Lawsuit

TROX

Legal Proceedings

Guidance Update

Dividends

Faruqi & Faruqi, LLP is investigating potential securities claims against Tronox Holdings plc (NYSE: TROX) on behalf of investors who suffered losses exceeding $75,000 between February 2, 2025, and July 30, 2025.
The class action alleges that Tronox made materially false and misleading statements regarding its ability to forecast demand for its products, which led to sales declines and increased costs.
On July 30, 2025, Tronox announced a significant reduction in TiO2 sales for Q2 2025, resulting in a downward revision of its 2025 full-year revenue guidance and a 60% reduction in its dividend.
Following this announcement, Tronox's stock price declined by about 38%, from $5.14 to $3.19 per share, between July 30 and July 31, 2025.
The deadline for investors to seek the role of lead plaintiff in this federal securities class action is November 3, 2025.

Nov 3, 2025, 3:27 PM

Press Release

Tronox Faces Securities Class Action Investigation

TROX

Legal Proceedings

Guidance Update

Dividends

Faruqi & Faruqi, LLP is investigating Tronox Holdings plc (TROX) for potential securities claims, with the deadline for lead plaintiff applications set for November 3, 2025.
The investigation pertains to investors who purchased Tronox securities between February 2, 2025, and July 30, 2025.
Allegations include that Tronox made materially false and misleading statements and/or concealed adverse facts regarding its ability to forecast product demand and the true state of its commercial division, which led to sales declines and increased costs.
On July 30, 2025, Tronox announced a significant reduction in TiO2 sales for Q2 2025, subsequently lowering its 2025 full-year revenue guidance and reducing its dividend by 60%.
Following this news, Tronox's stock price declined approximately 38%, from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025.

Oct 30, 2025, 3:16 PM

Press Release

Faruqi & Faruqi Investigates Tronox Holdings Following Stock Decline and Guidance Revision

TROX

Legal Proceedings

Guidance Update

Demand Weakening

Faruqi & Faruqi, LLP is investigating potential claims against Tronox Holdings plc (NYSE: TROX) for allegedly disseminating materially false and misleading statements and/or concealing material adverse facts regarding its ability to forecast demand for its pigment and zircon products.
The investigation follows Tronox's July 30, 2025, announcement of Q2 2025 financial results, which revealed a significant reduction in TiO2 sales due to a "softer than anticipated coatings season and heightened competitive dynamics".
As a result, Tronox revised its 2025 financial outlook, lowering its full-year revenue guidance and reducing its dividend by 60%.
Following this news, Tronox's common stock declined dramatically from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025, a 38% decline.
Investors who suffered losses in Tronox between February 2, 2025, and July 30, 2025, are encouraged to contact the firm, with a deadline of November 3, 2025, to seek the role of lead plaintiff in the federal securities class action.

Oct 26, 2025, 1:04 PM

Press Release

Tronox Holdings Faces Securities Class Action Lawsuit

TROX

Legal Proceedings

Dividends

Guidance Update

Faruqi & Faruqi, LLP is investigating potential securities fraud claims against Tronox Holdings plc (NYSE: TROX) and has set a lead plaintiff deadline of November 3, 2025, for a federal securities class action.
The lawsuit alleges that Tronox disseminated materially false and misleading statements regarding its ability to forecast demand for its pigment and zircon products, leading to declining sales and increased costs despite positive long-term projections.
This action follows Tronox's Q2 2025 financial results announcement on July 30, 2025, which revealed a significant reduction in TiO2 sales, a lowered full-year revenue guidance for 2025, and a 60% reduction in its dividend.
Following this news, Tronox's common stock declined by approximately 38%, falling from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025.
Investors who purchased or acquired securities in Tronox between February 2, 2025, and July 30, 2025, are encouraged to contact the law firm.

Oct 16, 2025, 4:22 PM

Press Release

Tronox Holdings Faces Securities Class Action Investigation

TROX

Legal Proceedings

Profit Warning

Dividends

Faruqi & Faruqi, LLP is investigating Tronox Holdings plc (NYSE: TROX) for a federal securities class action, with a November 3, 2025, deadline for investors to seek lead plaintiff status.
The lawsuit alleges Tronox provided materially false and misleading statements and/or concealed adverse facts regarding its ability to forecast demand for its pigment and zircon products, which led to declining sales and increased costs.
This investigation follows Tronox's July 30, 2025, announcement of significantly reduced TiO2 sales for Q2 2025, resulting in a revised 2025 financial outlook, lowered full-year revenue guidance, and a 60% dividend reduction.
Following this news, Tronox's common stock declined by approximately 38% on July 31, 2025, falling from a closing market price of $5.14 per share to $3.19 per share.

Oct 15, 2025, 2:21 PM

Press Release

Faruqi & Faruqi, LLP Investigates Claims Against Tronox Holdings

TROX

Legal Proceedings

Guidance Update

Demand Weakening

Faruqi & Faruqi, LLP is investigating potential claims against Tronox Holdings plc (NYSE: TROX) on behalf of investors who suffered losses between February 2, 2025, and July 30, 2025.
The investigation alleges that Tronox made materially false and misleading statements and/or concealed adverse facts concerning its ability to forecast demand for its products, resulting in declining sales and increased costs.
On July 30, 2025, Tronox announced a significant reduction in TiO2 sales for Q2 FY2025, which led to a revised lower full-year revenue guidance and a 60% dividend reduction.
Following this announcement, Tronox's common stock declined by approximately 38%, falling from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025.
Investors have until November 3, 2025, to seek the role of lead plaintiff in the federal securities class action.

Oct 12, 2025, 1:13 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for Tronox Holdings.

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