--- title: "Tronox Holdings Plc -Class | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 868 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/295111256.md" datetime: "2026-08-06T13:08:15.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295111256.md) - [en](https://longbridge.com/en/news/295111256.md) - [zh-HK](https://longbridge.com/zh-HK/news/295111256.md) generator: "portal-rs" --- # Tronox Holdings Plc -Class | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 868 M Revenue: As of FY2026 Q2, the actual value is USD 868 M, beating the estimate of USD 837.25 M. EPS: As of FY2026 Q2, the actual value is USD -1.07. EBIT: As of FY2026 Q2, the actual value is USD -11 M. Tronox Holdings plc reported total revenue of $868 million for the second quarter of 2026, marking a 14% increase compared to the prior quarter and a 19% increase year-over-year . #### Revenue by Segment - **TiO2 Sales**: Revenue from TiO2 sales was $700 million, up 19% year-over-year, driven by an 18% increase in sales volumes and a 1% favorable exchange rate impact, while average selling prices remained flat . Sequentially, TiO2 sales increased 14%, with a 9% increase in sales volumes and a 5% increase in average selling prices . - **Zircon Sales**: Zircon revenue increased 43% year-over-year to $97 million, primarily due to a 61% increase in sales volumes, partially offset by an 18% decrease in average selling prices . Sequentially, zircon revenue rose 9%, driven by a 4% increase in sales volumes and a 5% increase in average selling prices . - **Other Products**: Revenue from other products was $71 million, a -7% decline year-over-year, but a 29% increase sequentially, primarily due to higher sales volumes of pig iron . #### Profitability Metrics - **Loss from Operations**: Tronox Holdings plc reported a loss from operations of -$21 million for Q2 2026, compared to -$35 million in Q2 2025 and -$41 million in Q1 2026 . - **Gross Profit**: Gross profit was $55 million for the quarter, down from $79 million in Q2 2025 . - **Net Loss Attributable to Tronox Holdings plc**: Net loss attributable to Tronox Holdings plc was -$171 million, or -$1.07 per diluted share, which included a $103 million tax valuation allowance . This compares to a net loss of -$84 million, or -$0.53 per diluted share, in the prior-year period . - **Adjusted Net Loss Attributable to Tronox Holdings plc**: Adjusted net loss attributable to Tronox Holdings plc (non-GAAP) was -$82 million, or -$0.51 per diluted share . - **Adjusted EBITDA**: Adjusted EBITDA for the quarter was $73 million, representing a -22% decrease year-over-year, primarily due to unfavorable exchange rate movements, lower average selling prices, and higher production costs, partially offset by higher sales volumes . Sequentially, Adjusted EBITDA increased 18% . - **Adjusted EBITDA Margin**: The Adjusted EBITDA margin was 8.4% . #### Operating Expenses - **Selling, General and Administrative Expenses**: These expenses were $72 million for the quarter . - **Net Interest Expense**: Net interest expense amounted to $56 million . - **Depreciation, Depletion and Amortization Expense**: This expense was $76 million . #### Cash Flow and Capital Allocation - **Free Cash Flow**: Tronox Holdings plc generated $60 million in free cash flow for the second quarter . - **Capital Expenditures**: Capital expenditures were $45 million . - **Cash Flow from Operating Activities**: For the six months ended June 30, 2026, cash provided by operating activities was $37 million . - **Cash Flow from Investing Activities**: For the six months ended June 30, 2026, cash used in investing activities was -$97 million . - **Liquidity**: At the end of the quarter, available liquidity totaled $527 million, comprising $194 million in cash and cash equivalents and $333 million available under revolving credit agreements . - **Debt**: Total debt was $3.2 billion, with net debt at $3.0 billion, and a net leverage ratio of 11.4x on a trailing twelve-month basis . #### Unique Operational Metrics - **Inventory Management**: The company reduced total inventory by approximately $120 million from first-quarter levels, reaching its lowest value since June 2024 . - **Cost Improvement Program**: The cost improvement program is on track to achieve the higher end of its $125-$175 million annual run-rate savings target by the end of 2026 . - **Rare Earths Strategy**: The definitive feasibility study for the cracking and leaching facility is expected to conclude by the third quarter of 2027 . #### Outlook and Guidance Tronox Holdings plc expects meaningful positive free cash flow generation for the full year 2026, with the third quarter anticipated to be relatively neutral . Q3 2026 TiO2 volumes are projected to moderate moderately in the mid-single-digit percentage range, consistent with seasonal patterns, while zircon volumes are expected to moderate slightly due to inventory availability . TiO2 pricing is expected to improve sequentially in the mid-single-digit percentage range, and zircon pricing is forecast to improve in the mid- to high single-digit percentage range in Q3 2026, contributing to an expected Adjusted EBITDA of $95-$115 million for the quarter . ### Related Stocks - [TROX.US](https://longbridge.com/en/quote/TROX.US.md) ## Related News & Research - [Tronox (TROX) Stock Still Looks Reasonable After A 65% Gain](https://longbridge.com/en/news/295877625.md) - [Tronox Q2 revenue beats analyst expectations on higher volumes](https://longbridge.com/en/news/295011518.md) - [The Rare Earth Mirage: The Midstream Bet Hiding in Plain Sight (NASDAQ: EMAT)](https://longbridge.com/en/news/296940044.md) - [Rare Earth Magnet Production is Not Enough: The OEM Qualification Bottleneck (NASDAQ: EMAT)](https://longbridge.com/en/news/296916713.md) - [Equifax declares Q3 2026 distribution of R$ 2.02 per unit, payable Sept. 22](https://longbridge.com/en/news/296941296.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**