Tronox reports fourth quarter and full year 2023 financial results

Fourth quarter free cash flow above expectations stamford, conn. , feb. 15, 2024 /prnewswire/ -- tronox holdings plc (nyse:trox) ("tronox" or the "company"), the world's leading integrated manufacturer of titanium dioxide pigment, today reported its financial results for the quarter ending december 31, 2023: fourth quarter 2023 financial highlights: revenue of $686 million income from operations of $8 million; net loss attributable to tronox of $56 million adjusted ebitda of $94 million; adjusted ebitda margin of 13.7% (non-gaap) gaap diluted loss per share of $0.36; adjusted diluted loss per share of $0.38 (non-gaap) free cash flow of $51 million (non-gaap) full year 2023 financial highlights: total revenue of $2,850 million income from operations of $186 million; net loss attributable to tronox of $316 million; adjusted net loss of $24 million (primarily excludes $293 million tax valuation allowance) adjusted ebitda of $524 million; adjusted ebitda margin of 18.4% (non-gaap) gaap diluted loss per share of $2.02; adjusted diluted loss per share of $0.15 (non-gaap) capital expenditures of $261 million returned $89 million to shareholders in the form of dividends outlook: q1 2024 adjusted ebitda expected to be $100-120 million expect tio2 volumes to increase 12-16% and zircon volumes to increase 15-30%, both compared to q4 2023 levels expect tio2 pricing to remain relatively flat to the prior quarter this outlook is based on tronox's current views of global economic activity and is subject to changes and impacts associated with global supply chain and inflation-related challenges, among others.
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