- Tronox press release ( NYSE: TROX ): Q3 Non-GAAP EPS of $0.69 misses by $0.06 .
- Revenue of $895M (+2.9% Y/Y) in-line.
- Delivered Adjusted EBITDA of $247 million and an Adjusted EBITDA margin of 27.6%
- Invested $112 million in capital expenditures, primarily in our vertical integration and newTRON initiatives
- Generated free cash flow of $25 million in the quarter
- Returned $110 million to shareholders in the nine months ending September 30, 2022 in the form of share repurchases and dividends.
- Q4 2022 Adjusted EBITDA expected to be $140-$170 million, assuming TiO 2 volumes decline 25-30% sequentially driven by customer destocking in the fourth quarter and one-time cost impacts due to reduced production as a result of lower customer demand
- Full year 2022 free cash flow expected to be greater than $150 million.
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Tronox Non-GAAP EPS of $0.69 misses by $0.06, revenue of $895M in-line