Tronox reports third quarter 2023 financial results

Delivered adjusted ebitda within the guided range despite softer market conditions proactively strengthened balance sheet with incremental term loan stamford, conn. , oct. 25, 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 september 30, 2023, as follows: third quarter 2023 financial highlights: produced revenue of $662 million, a 17% decrease compared to the prior quarter, or a 26% decrease compared to the prior year generated income from operations of $32 million, and a net loss of $14 million; adjusted net loss was $12 million (non-gaap) gaap diluted eps was $(0.09); adjusted diluted eps was $(0.08) (non-gaap) delivered adjusted ebitda of $116 million and an adjusted ebitda margin of 17.5%, both within the guided range invested $54 million in capital expenditures in the quarter proactively reinforced balance sheet with $350 million incremental term loan raise in august, the proceeds of which were used to pay outstanding borrowings under existing revolving credit facilities and enhance available liquidity q4 2023 outlook: adjusted ebitda expected to be $105-125 million assuming tio2 volumes will be relatively flat compared to q3 2023 levels, with little to no seasonal decline, and zircon volumes continue to improve substantially off third quarter trough levels 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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