Tronox reports third quarter 2022 financial results

Continued strong margin performance enabled by vertically integrated portfolio despite difficult market conditions stamford, conn. , oct. 26, 2022 /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, 2022, as follows:  third quarter 2022 financial highlights: produced revenue of $895 million, an increase of 3% compared to the prior year, driven by higher tio2, zircon and pig iron prices and higher pig iron volumes generated income from operations of $163 million and net income of $123 million achieved gaap diluted eps of $0.77; adjusted diluted eps of $0.69 (non-gaap) primarily due to an australian valuation allowance adjustment of $0.10 delivered adjusted ebitda of $247 million and an adjusted ebitda margin of 27.6% invested $112 million in capital expenditures, primarily in our vertical integration and newtron initiatives generated free cash flow of $25 million in the quarter returned $110 million to shareholders in the nine months ending september 30, 2022 in the form of share repurchases and dividends outlook q4 2022 adjusted ebitda expected to be $140-$170 million, assuming tio2 volumes decline 25-30% sequentially driven by customer destocking in the fourth quarter and one-time cost impacts due to reduced production as a result of lower customer demand full year 2022 free cash flow expected to be greater than $150 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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