Overview

* Tronox Q3 2025 revenue of $699 mln missed analyst expectations, down 13% yr/yr

* Adjusted EPS for Q3 2025 missed consensus, reflecting ongoing market challenges

* Adjusted EBITDA for Q3 2025 missed analyst expectations, impacted by lower sales volumes

Outlook

* Company expects Q4 2025 revenue and Adjusted EBITDA to be flat compared to Q3 2025

* Tronox ( TROX ) anticipates TiO(2) volume growth of 3-5% and zircon volume growth of 15-20%

* Company expects positive free cash flow in Q4 2025 and 2026

Result Drivers

* WEAKER DEMAND - CEO John Romano cites weaker than expected demand and aggressive inventory liquidation by competitors as impacting Q3 results

* COST IMPROVEMENT - Tronox's ( TROX ) cost improvement program ahead of schedule, aiming for $60 mln savings by end of 2025

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $699 mln $768.80

Revenue mln (8

Analysts

)

Q3 Miss -$0.46 -$0.14

Adjusted (9

EPS Analysts

)

Q3 Net -$99 mln

Income

Q3 Miss $74 mln $93.40

Adjusted mln (7

EBITDA Analysts

)

Q3 10.60%

Adjusted

EBITDA

Margin

Q3 -$43 mln

Income

From

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the specialty chemicals peer group is "buy."

* Wall Street's median 12-month price target for Tronox Holdings PLC ( TROX ) is $4.25, about 24.9% above its November 4 closing price of $3.19

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)