Tronox (TROX)
NYSE:TROX
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Earnings Data
Report Date
Jul 29, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.35Last Year’s EPS
-0.28Same Quarter Last Year
Based on 9 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a balanced picture: operational and commercial performance showed clear improvement in volumes, sequential revenue, pricing momentum, inventory reduction and a path to meaningful positive free cash flow for 2026, supported by a cost improvement program and strategic rare-earth progress. Offsetting these positives were a Q1 net loss, a 45% YoY decline in adjusted EBITDA, significant raw material inflation (notably sulfur nearly +300% since end-2024), Q1 negative free cash flow, and Q2 planned outage headwinds. Management emphasized disciplined commercial execution, pricing actions (including surcharges), and working-capital focus to mitigate headwinds and drive cash generation, but near-term profitability remains challenged by elevated input costs and some operational impacts.Company Guidance
Revenue Growth and Strong Volume Execution
Revenue of $760 million, up 3% year-over-year, driven by higher TiO2 and zircon volumes. TiO2 volumes reached the highest Q1 level since 2022 and zircon volumes were the strongest since Q4 2021.
Sequential Revenue and Volume Momentum
Sequentially TiO2 revenue rose 7% (driven by +4% volumes and +3% average selling price), and zircon revenue increased 14% sequentially, reflecting stronger demand and favorable trade flows.
Pricing Momentum and Commercial Actions
Clear inflection in TiO2 pricing with announced mid-single-digit quarter-over-quarter price increases expected in Q2 and additional price actions/surcharges being implemented (majority price increases; <1/3 surcharges, largely sulfur-related). Zircon price increases announced for Q2 are being implemented.
Adjusted EBITDA Improvement Guidance and Near-Term Outlook
Adjusted EBITDA of $62 million in Q1 (8.2% margin) and sequential improvement (+9% vs prior quarter). Company guides Q2 adjusted EBITDA to $65 million–$85 million and expects positive free cash flow in Q2 and meaningful positive free cash flow for full-year 2026.
Working Capital and Cash-Generation Focus
Inventory reduced by approximately $75 million in Q1. AR securitization facility upsized by $25 million in the quarter and an additional $20 million thereafter (total +$45 million). Management expects working capital to be a source of cash well in excess of $100 million for 2026.
Cost Improvement Program
Ongoing cost improvement program on track to deliver $125 million–$175 million of run-rate savings by the end of 2026, which management expects will offset portions of inflationary headwinds.
Balance Sheet and Interest Rate Positioning
Total debt $3.3 billion (net debt $3.2 billion) with a weighted average interest rate of ~5.95% and ~74% of interest fixed through 2028. Next significant maturity not until 2029; no financial covenants on term loans/bonds.
Strategic Progress — Rare Earths Initiative
Meaningful advancement in rare earths strategy toward a definitive feasibility study, active stakeholder engagement, and Australian federal major project status awarded — signaling strategic optionality and potential long-term growth platform.
TROX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TROX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 06, 2026 | $10.06 | $8.37 | -16.80% |
Feb 18, 2026 | $7.65 | $6.86 | -10.32% |
Nov 05, 2025 | $3.10 | $3.08 | -0.61% |
Jul 30, 2025 | $4.92 | $3.05 | -37.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Tronox (TROX) report earnings?
Tronox (TROX) is schdueled to report earning on Jul 29, 2026, After Close (Confirmed).
What is Tronox (TROX) earnings time?
Tronox (TROX) earnings time is at Jul 29, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TROX EPS forecast?
TROX EPS forecast for the fiscal quarter 2026 (Q2) is -0.35.