Tronox sees Q4 revenue $783M, consensus $696.29M

The company said, "Due to the positive dynamics in the market, we delivered an even stronger fourth quarter than we previously contemplated, with sales exceeding expectations and Adjusted EBITDA coming in above our previously issued guidance. We expect fourth quarter 2020 revenue of $783 million and Adjusted EBITDA of $200 to $204 million, our strongest Adjusted EBITDA performance since we closed the Cristal acquisition. This performance was driven by a continued demand recovery in the fourth quarter as well as delivery on our synergy targets from the Cristal transaction. Fourth quarter TiO2 volumes increased 8 percent sequentially and year over year while pricing remained level. Zircon volumes were the strongest of the year, increasing 70 percent sequentially and 48 percent year over year. We will report our full financial results as planned in mid-February." The selected preliminary unaudited financial results for the quarter ending December 31, 2020 are preliminary, based upon information available as of today and are subject to change and finalization based on completion of all year-end close processes.