Tronox Reports First Quarter 2021 Financial Results
Achieved Record TiO2 and Zircon Sales Volumes Driven by Robust Market Strength
Adjusted EBITDA Ahead of Management s Guidance Due to Stronger Zircon Sales Volumes and Higher TiO2 Pricing Than Expected
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First Quarter 2021 Financial Highlights:
Record revenue of $891 million increased 14 percent sequentially, driven primarily by double-digit growth in both TiO
2 and zircon volumes and 3 percent higher TiO
2 average selling prices
Income from operations of $125 million; Net income of $26 million
GAAP diluted income per share of $0.12; Adjusted diluted EPS of $0.43 (Non-GAAP); the difference is primarily due to costs associated with the Q1 debt refinancing transactions and the break fee associated with the TiZir Titanium and Iron ( TTI ) transaction