Tronox Holdings Plc Stock Price, News & Analysis

Tronox Holdings plc (NYSE: TROX) announced its schedule for the second quarter 2021 earnings release and webcast conference call. The earnings release is set for July 28, 2021, after market close, with a conference call on July 29, 2021, at 8:00 a.m. ET. The call will be publicly accessible via internet and telephone. Details for the internet broadcast and dial-in numbers have been provided. Tronox is a leading producer of titanium dioxide products and operates globally with a strong workforce and vertical integration.

On May 5, 2021, Tronox Holdings plc (NYSE:TROX) announced a quarterly dividend of $0.08 per share, payable on May 28, 2021. Shareholders of record as of May 17, 2021 will receive the dividend. Tronox is a leading integrated manufacturer of titanium dioxide and related products, operating globally with around 6,500 employees. The company continues to enhance its presence in the titanium market, contributing to its financial stability and shareholder returns.

Tronox reported a record revenue of $891 million for Q1 2021, marking a 14% sequential increase driven by strong TiO2 and zircon sales. Net income was $26 million with a GAAP diluted EPS of $0.12. Adjusted EBITDA rose to $225 million, exceeding guidance. TiO2 sales volumes increased 15% sequentially, while zircon volumes soared 30%. Strong demand in Europe and Asia led growth, though feedstock sales fell 29% due to FTC regulations. The company anticipates similar or increased sales volumes in Q2, with expected Adjusted EBITDA between $225-$240 million.

Tronox Holdings plc (NYSE: TROX) announced its schedule for the first quarter 2021 earnings release and conference call. The earnings release is set for April 28, 2021, after market close, available on PR Newswire and the Tronox website. A webcast conference call will take place on April 29, 2021, at 8:00 a.m. ET, accessible to the public via internet and telephone. Replay options will be available from April 29 until May 4, 2021. Tronox is a leading producer of titanium products, with a diversified global operation.

On March 18, 2021, Tronox Holdings plc (NYSE:TROX) announced the appointment of John D. Romano and Jean-François Turgeon as co-Chief Executive Officers, effective immediately. This decision follows the retirement of former CEO Jeffry N. Quinn. Ilan Kaufthal has been elected Chairman of the Board. Romano and Turgeon have experience in the pigment and mining sectors, and they were leading the company in an interim capacity since December 27, 2020. Their leadership aims to enhance the execution of Tronox's long-term strategic plan.

Tronox Holdings plc (NYSE: TROX) announced the completion of a $1,075 million offering of 4.625% senior notes due 2029. Proceeds will be used to redeem $615 million of 6.500% senior notes due 2026 and $450 million of 5.750% senior notes due 2025. Additionally, on March 11, 2021, the company closed refinancing of its first lien term loan and revolving credit facilities, borrowing $1,300 million and securing $350 million in revolving commitments. These moves are expected to lower annual cash interest by $30 million and extend the debt maturity by three years.

Tronox Holdings plc (NYSE: TROX) has priced its upsized offering of $1,075 million in 4.625% Senior Notes due 2029, aimed at qualified institutional buyers and non-U.S. persons. The offering's closing is expected around March 15, 2021. Proceeds will finance the redemption of $615 million of 6.500% senior notes due 2026 and $450 million of 5.750% senior notes due 2025. The Notes will remain unregistered under the Securities Act, limiting their sale in the U.S. This move reflects Tronox's strategy to manage its debt effectively.

Tronox Holdings plc (NYSE: TROX) announced the intention of its wholly owned subsidiary, Tronox Incorporated, to offer $625 million in senior notes due 2029. The proceeds will be utilized to redeem existing 6.500% senior notes due 2026. The offering is targeted at qualified institutional buyers under Rule 144A and non-U.S. persons outside the United States. The notes will not be registered under the Securities Act, implying restrictions on their sale within the U.S.

Tronox Holdings plc (NYSE:TROX) announced an upsized underwritten registered offering of 19,108,970 ordinary shares at $18.25 each, led by Exxaro Resources Limited, which retains all net proceeds. Additionally, there is a 30-day option for underwriters to purchase 2,866,345 more shares. The offering is set to close on March 1, 2021, pending customary conditions. J.P. Morgan, BofA Securities, Deutsche Bank Securities, and Morgan Stanley are the joint bookrunning managers. The shares are offered under an effective shelf registration statement with the SEC.