Tronox's second-quarter results increased 12% from the previous quarter and fell 16% from the same period last year

Financial highlights for the second quarter of 2023: Revenue was US$794 million, a 12% increase from the previous quarter and a 16% decrease from the same period last year.

Operating income was A$84 million, net loss was A$269 million, including a valuation allowance of A$293 million for deferred income tax assets within the jurisdiction of Australia; adjusted net income was US$24 million (non-GAAP)

Outlook for the third quarter of 2023:

TiO2 production is expected to remain the same as in the second quarter of 2023;

Compared with the second quarter of 2023, zircon production is expected to drop by 15,000 - 20,000 tons;

Adjusted EBITDA is expected to be US$115 - 135 million.

This outlook is based on Tronox's views on current global economic activity and is subject to changes and influences by factors such as macroeconomic conditions, global supply chains and inflation-related challenges.