Tronox
Produces TiO2 pigment from owned mineral-sands feedstock and global pigment plants.
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Profile
Makes TiO2 pigment, zircon, and processing co-products through a single integrated mining-to-chemicals segment. Feedstock mines in Australia and South Africa support pigment facilities across the Americas, Europe, the Middle East, and Australia.
Produces TiO2 pigment from titanium-bearing mineral sands, with zircon and processing co-products alongside the main pigment line. Mining and beneficiation operations in Australia and South Africa feed pigment plants in the Americas, Europe, the Middle East, and Australia, supporting a vertically integrated model.
Operational focus sits on feedstock self-sufficiency, chloride-process pigment capacity, and technical execution across mining, smelting, and chemical processing. TIONA and CristalActiv products serve coatings, plastics, paper, emission-control, and other industrial applications.
Results depend on cyclical TiO2, zircon, pig-iron, and feedstock markets, energy and raw-material costs, Chinese TiO2 exports, and the current footprint reset that includes idled or closed plants.
Company facts
Key statistics
Year to date +26.2% · Average volume (30d) 2.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 13, 2026 | China Renaissance Securities (US) Inc. | Target | $5 | |||
| Aug 13, 2026 | JP Morgan | Downgrade | Neutral | Underweight | ||
| Jul 22, 2026 | Goldman Sachs | Reiterate | Sell | $9 | $6.50 | |
| Jun 11, 2026 | Truist Securities | Upgrade | Sell | Hold | ||
| May 20, 2026 | Deutsche Bank | Target | $8 | $10 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.38 | −$0.51 | −34.8% | $832.6M | $868.0M | +4.3% | +18.80% |
| May 6, 2026Q1 FY26 | −$0.48 | −$0.55 | −14.6% | $751.4M | $760.0M | +1.1% | −16.80% |
| Feb 18, 2026Q4 FY25 | −$0.43 | −$0.60 | −39.5% | $708.0M | $730.0M | +3.1% | −10.32% |
| Nov 5, 2025Q3 FY25 | −$0.21 | −$0.46 | −119.0% | $687.5M | $699.0M | +1.7% | −0.63% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $738.0M | $731.0M | $699.0M | $725.0M | $760.0M | $868.0M | |
| Gross profit | $91.0M | $70.0M | $44.0M | $26.0M | $38.0M | $55.0M | |
| Operating income | −$61.0M | $6.0M | −$19.0M | −$40.0M | −$28.0M | −$21.0M | |
| Net income | −$111.0M | −$84.0M | −$99.0M | −$176.0M | −$103.0M | −$171.0M | |
| Diluted EPS | −$0.70 | −$0.53 | −$0.63 | −$1.11 | −$0.65 | −$1.07 | |
| Gross margin | 12.3% | 9.6% | 6.3% | 3.6% | 5.0% | 6.3% | |
| Operating margin | -8.3% | 0.8% | -2.7% | -5.5% | -3.7% | -2.4% |
Fiscal years (4-quarter sums)FY21 $3.57B · FY22 $3.45B · FY23 $2.85B · FY24 $3.07B · FY25 $2.89B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $194.0M · Total debt $3.37B · Total assets $5.95B · Shareholders' equity $1.16B
Dividends
Last cut to $0.05 from $0.125 in Aug 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 10, 2026 | Aug 10 | Oct 9 | $0.05 | |
| May 11, 2026 | May 11 | Jul 8 | $0.05 | |
| Feb 23, 2026 | Feb 23 | Apr 2 | $0.05 | |
| Nov 10, 2025 | Nov 10 | Jan 6 | $0.05 | |
| Aug 11, 2025 | Aug 11 | Oct 3 | $0.05 | cut from $0.125 |
| May 19, 2025 | May 19 | Jul 2 | $0.125 | |
| Mar 3, 2025 | Mar 3 | Apr 4 | $0.125 | |
| Nov 8, 2024 | Nov 11 | Dec 13 | $0.125 |
Ownership
Shares outstanding 159.52M · Float 118.68M · 74.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 11.34M | 7.11% | 13F | Aug 7, 2026 |
| Van Eck Associates Corp | 8.06M | 5.05% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 6.66M | 4.17% | 13F | Aug 11, 2026 |
| Primecap Management Co/CA/ | 5.47M | 3.43% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 5.28M | 3.31% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 6, 2026 | Jonathan Flood | officer: Principal Accounting Officer | −8,008 | $6.58 |
| Mar 5, 2026 | Jonathan Flood | officer: Principal Accounting Officer | −7,000 | $7.55 |
| Mar 6, 2026 | Jeffrey A. Engle | officer: SVP, Chief Commercial Officer | −14,575 | $6.60 |
| Mar 6, 2026 | Jeffrey N. Neuman | officer: SVP, General Counsel & Sec. | −22,965 | $6.59 |
| Mar 6, 2026 | Jean Francois Turgeon | director | −18,563 | $6.60 |
Peers
- Chemours
Premium TiO2 pigment rival with Ti-Pure and chloride-process scale
- Kronos Worldwide
Pure-play TiO2 pigment peer across Europe, North America, and Asia
- Rio Tinto (ADR)
Large mining peer in titanium dioxide slag and feedstock supply
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Tronox | $5.50 | +2.04% | $861.4M | — | — | 0.3 | +18.7% |
| Chemours | $15.70 | +0.45% | $2.35B | — | 10.3 | 0.4 | −1.5% |
| Kronos Worldwide | $8.80 | −0.05% | $1.01B | — | 14.8 | 0.5 | +12.9% |
| Rio Tinto (ADR) | $103.71 | +0.37% | $167.86B | 13.9 | — | 2.7 | +14.5% |
| Median | 13.9 | 12.5 | 0.5 | +12.9% |