NYSE$TROX
Tronox Holdings PLC · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Tronox achieved record TiO2 and Zircon sales volumes driven by robust market strength and Adjusted EBITDA ahead of management's guidance.
Tronox reported a strong first quarter in 2021, with record revenue driven by double-digit growth in TiO2 and zircon volumes and higher TiO2 average selling prices. The company's performance exceeded expectations due to exceptional demand across all regions and end markets.
- Record revenue of $891 million increased 14 percent sequentially, driven primarily by double-digit growth in both TiO2 and zircon volumes and 3 percent higher TiO2 average selling prices.
- Adjusted EBITDA of $225 million, ahead of guidance; Adjusted EBITDA margin of 25 percent.
- TiO2 sales volumes increased 15 percent sequentially, driven by global demand strength led by growth in Europe and Asia Pacific; TiO2 average selling prices increased 3 percent sequentially, with price increases implemented in all regions.
- Zircon sales volumes increased 30 percent sequentially as a result of stronger than expected market growth, particularly in China, while selling prices remained level.
Headline financials
Revenue & EPS history
Tronox · Revenue · Quarterly
$891M
Revenue by segment
Tronox · $819M total across 2 segments · Q1 2021
- TiO2$696M+20.0%85.0%
- Zircon$123M+89.2%15.0%
Forward guidance
Tronox anticipates TiO2 sales volumes will increase in the low- to mid-single digit percent range, zircon sales volumes are expected to remain elevated, and TiO2 and zircon prices are expected to increase. Adjusted EBITDA is expected to be $225-$240 million.
Tailwinds
- TiO2 sales volumes expected to increase in the low- to mid-single digit percent range over record-breaking first quarter levels
- Zircon sales volumes expected to remain elevated above 2019 and 2020 quarterly volume levels, though off of first quarter peak
- TiO2 and zircon prices expected to increase as regional price initiatives progress
Headwinds
- Sequential headwinds from unfavorable foreign exchange rates
- Inflation
- Planned maintenance shutdown of our Australian Northern Operations synthetic rutile production facility
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-0.8%
Avg return
Earnings day
+0.3%
Avg return
5 days after
+2.3%
Avg return
30 days after
49%
30 / 61 earnings
Positive
+33.8%
Q4 2016
Best reaction
-20.8%
Q3 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.3% | +4.3% | -13.2% | |
| Q4 2025 | -10.5% | +3.6% | +0.9% | |
| Q3 2025 | -0.6% | +9.1% | +20.4% | |
| Q1 2025 | +1.5% | -1.8% | +5.0% | |
| Q4 2024 | -11.0% | -18.4% | -28.0% | |
| Q3 2024 | -7.5% | -9.9% | -8.4% | |
| Q2 2024 | -17.6% | -16.8% | -13.8% | |
| Q1 2024 | +12.9% | +10.2% | +16.6% | |
| Q4 2023 | +9.8% | +12.7% | +25.0% | |
| Q3 2023 | +2.7% | +0.5% | +20.1% | |
| Q2 2023 | -4.3% | -10.0% | -15.6% | |
| Q1 2023 | -0.4% | +7.1% | -9.7% | |
| Q4 2022 | -3.2% | -2.9% | -19.9% | |
| Q3 2022 | -6.8% | -11.0% | +5.4% | |
| Q2 2022 | -0.6% | -4.3% | -5.8% | |
| Q1 2022 | -1.6% | -4.6% | +1.3% | |
| Q4 2021 | -6.7% | -9.9% | -13.1% | |
| Q3 2021 | -9.1% | -5.6% | -8.6% | |
| Q2 2021 | +1.9% | -3.0% | +19.2% | |
| Q1 2021 | +0.3% | +1.0% | +7.0% | |
| Q4 2020 | -2.9% | +7.0% | -4.1% | |
| Q3 2020 | +5.8% | +17.1% | +37.8% | |
| Q2 2020 | -2.4% | -1.0% | +18.5% | |
| Q1 2020 | -8.4% | +3.5% | +24.2% | |
| Q4 2019 | -12.0% | -16.7% | -30.2% | |
| Q3 2019 | +2.9% | +6.4% | +5.3% | |
| Q2 2019 | -2.3% | -6.4% | -12.1% | |
| Q1 2019 | -6.1% | -9.3% | -8.4% | |
| Q4 2018 | +2.2% | +1.4% | +13.7% | |
| Q3 2018 | +5.2% | +3.4% | -17.5% | |
| Q2 2018 | -8.9% | -7.7% | -12.2% | |
| Q1 2018 | +1.4% | +0.1% | +9.1% | |
| Q4 2017 | +8.3% | +9.4% | +0.9% | |
| Q3 2017 | +1.9% | +3.5% | -24.6% | |
| Q2 2017 | -1.8% | -1.5% | +9.9% | |
| Q1 2017 | -6.2% | -4.3% | -8.0% | |
| Q4 2016 | +33.8% | +20.7% | +15.5% | |
| Q3 2016 | +3.1% | +17.2% | +36.0% | |
| Q2 2016 | +6.9% | +19.1% | +50.4% | |
| Q1 2016 | -5.4% | — | — | |
| Q4 2015 | +8.3% | — | — | |
| Q3 2015 | -20.8% | — | — | |
| Q2 2015 | +2.2% | — | — | |
| Q1 2015 | -6.0% | — | — | |
| Q4 2014 | -3.7% | — | — | |
| Q3 2014 | +4.1% | — | — | |
| Q2 2014 | +6.5% | — | — | |
| Q1 2014 | -5.9% | — | — | |
| Q4 2013 | +14.3% | — | — | |
| Q3 2013 | +0.6% | — | — | |
| Q2 2013 | +2.9% | — | — | |
| Q1 2012 | +0.5% | — | — | |
| Q1 2013 | +1.5% | — | — | |
| Q4 2012 | +2.5% | — | — | |
| Q3 2012 | -18.6% | — | — | |
| Q2 2012 | -2.4% | — | — | |
| Q4 2011 | +2.5% | — | — | |
| Q3 2011 | -8.2% | — | — | |
| Q2 2011 | +5.2% | — | — | |
| Q1 2011 | +0.7% | — | — | |
| Q4 2010 | +0.0% | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — |
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