Second Quarter 2022 Conference Call
Second Quarter 2022 Financial Highlights
Record Adjusted EBITDA and strong margin performance
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Revenue increased YoY driven by higher TiO₂ revenues
Income from operations of $190M and net income of $375M
due to the reversal of a portion of the valuation allowance in
Australia relating to deferred tax assets
Effective tax rate of (147)%; -22% normalized Q2 ETR¹
GAAP Diluted EPS of $2.37, an increase of 415% YoY, and
Adjusted Diluted EPS of $0.84, an increase of 38% YoY
Adjusted EBITDA of $275M, slightly above the midpoint of
guidance; Adjusted EBITDA margin of 29.1%, up 350bps
YoY, owing to improved pricing and favorable product mix
Revenue
TRONOX
Income from Operations
Net Income
GAAP Diluted EPS
Adjusted Diluted EPS
Adjusted EBITDA
Adj. EBITDA Margin %
Free Cash Flow
Q2 '22
Tronox Holdings plc | tronox.com | Confidential & Proprietary | © 2022
$945
$ 190
$375
$ 2.37
$ 0.84
$275
29.1%
Q2 '21
$ (67)
$927
$150
$77
$ 0.46
$0.61
$ 237
25.6%
YoY % A
2%
27%
387%
38%
16%
350 bps
Q1 '22 QoQ % A
415% $0.10
$ 965
$150 (145)%
$69
$16
Returned $66M to shareholders in Q2 through share
repurchases and dividend payments
Note: All figures are US$ in millions unless otherwise noted. See appendix reconciliations for non-GAAP financial measures. 1. Normalized for valuation allowance reversal and loss on debt extinguishment.
$ 0.60
$ 240
24.9%
$ 86
(2)%
175%
n/m
n/m
40%
15%
420 bps
(178)%
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