Tronox Holdings plc (NYSE: TROX) (“Tronox” or the “Company”), the world’s leading integrated manufacturer of titanium dioxide pigment, in conjunction with the launch of an opportunistic repricing transaction relating to a portion of its existing term loan tranches, today released selected preliminary unaudited financial results for the quarter ending March 31, 2024.

For Q1 2024, Tronox’s revenue is expected to be $774 million, an increase of 9% compared to the prior year or 13% compared to the prior quarter, net loss is expected to be $9 million, and Adjusted EBITDA is expected to be $131 million, exceeding previously issued guidance of $100-$120 million. Tronox’s Adjusted EBITDA margin is expected to be approximately 17%.

Chief Executive Officer John D. 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. We look forward to reporting and discussing our full financial results at the beginning of May as previously announced.”