Tronox sees Q1 revenue $774M, consensus $744.15M

Q1 net loss is expected to be $9M, and Adjusted EBITDA is expected to be $131M, exceeding previous guidance of $100M-$120M. Adjusted EBITDA margin is expected to be approximately 17%. CEO John Romano commented, “We delivered an even stronger first quarter than anticipated, with Adjusted EBITDA coming in above our previously issued guidance, due to continued strengthening of the market recovery. Demand outpaced expectations for both TiO2 and zircon, with TiO2 volumes increasing approximately 18% in the first quarter versus the fourth quarter and zircon volumes increasing approximately 54% over the same period. Additionally, and in line with our year-end earnings call guidance, our costs continue to trend favorably as a result of improved absorption from higher production volume and the absence of non-repeating charges in prior quarters. We remain confident in our ability to deliver industry leading results and are well-positioned to continue our participation in the recovery and demonstrate the full capabilities of our vertically integrated portfolio.”