Tronox reports second quarter 2023 financial results

Achieved adjusted ebitda at the high end of the guided range generated free cash flow above expectations stamford, conn. , july 26, 2023 /prnewswire/ -- tronox holdings plc (nyse:trox) ("tronox" or the "company"), the world's leading integrated manufacturer of titanium dioxide ("tio2") pigment, today reported its financial results for the quarter ending june 30, 2023, as follows: second quarter 2023 financial highlights: produced revenue of $794 million, a 12% increase compared to the prior quarter, or a 16% decrease compared to the prior year generated income from operations of $84 million, and a net loss of $269 million, inclusive of a valuation allowance of $293 million established against the deferred tax assets within our australia jurisdiction; adjusted net income was $24 million (non-gaap) gaap diluted eps was $(1.72); achieved adjusted diluted eps of $0.16 (non-gaap) delivered adjusted ebitda of $168 million, at the high end of the guided range, and an adjusted ebitda margin of 21.2% invested $55 million in capital expenditures in the quarter generated $81 million in free cash flow in the quarter q3 2023 outlook: tio2 volumes expected to be relatively flat to q2 2023 levels zircon volumes expected to decline by 15 to 20 thousand tons versus q2 2023  adjusted ebitda expected to be $115-135 million this outlook is based on tronox's views on current global economic activity and is subject to changes and impacts associated with the macroeconomic conditions, global supply chain, and inflation-related challenges, among others.
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