Tronox Holdings (TROX) Q3 FY2026 earnings: revenue $827 million, up 18.3% on the year

Tronox Holdings plc (TROX) reported revenue of $827 million for Q3 FY2026, the quarter ended 30 September 2026, up 18.3% on the same quarter a year earlier. Net income was -$55 million, and diluted earnings per share $-0.34. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$827 million

+18.3% on the year · -4.7% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

1.5%

-6.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$55 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.34

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 lowered, 6 new.

Revenue up 18% on volume and price: Revenue was $827 million, down 5% from the second quarter. Higher sales volumes and higher average selling prices drove the year-on-year rise, partly offset by foreign exchange.
Adjusted EBITDA up 36% year on year: Adjusted EBITDA was $101 million, with margin at 12.2% against 10.6% a year earlier. Higher average selling prices were the main driver.
India duties and EU probe cited: Management cited the reinstatement of anti-dumping duties in India and the EU anti-absorption investigation as steps toward a more level competitive environment in key markets.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	827	868	699	-4.7%	+18.3%
Gross profit	77.0	55.0	52.0	+40.0%	+48.1%
Gross margin	9.3%	6.3%	7.4%
Selling, general and administrative	65.0	72.0	70.0	-9.7%	-7.1%
Operating income	12.0	-21.0	-43.0
Operating margin	1.5%	-2.4%	-6.2%
Interest expense	56.0	56.0	48.0	0.0%	+16.7%
Pre-tax income	-50.0	-67.0	-92.0
Income tax	6.0	106	8.0	-94.3%	-25.0%
Net income	-55.0	-171	-99.0
Net margin	-6.7%	-19.7%	-14.2%
Diluted EPS	-$0.34	-$1.07	-$0.63

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	62.0	105	-57.0	-41.0%
Capital expenditure	57.0	45.0	80.0	+26.7%	-28.7%
Free cash flow	5.0	60.0	-137	-91.7%
Free cash flow margin	0.6%	6.9%	-19.6%
Cash from investing	-57.0	-30.0	-79.0
Cash from financing	-57.0	-10.0	189
Depreciation and amortisation	70.0	68.0	67.0	+2.9%	+4.5%
Share-based compensation	6.0	5.0	5.0	+20.0%	+20.0%
Dividends paid	8.0	8.0	20.0	0.0%	-60.0%
Dividend per share	$0.05	$0.05	$0.05	0.0%	0.0%
Diluted shares, weighted	160m	160m	159m	-0.1%	+0.7%
Shares outstanding at period end	160m	160m	159m	+0.0%	+0.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,125	1,161	1,561	-3.1%	-27.9%
Non-controlling interest	29.0	30.0	32.0	-3.3%	-9.4%
Debt	3,202	3,230	3,233	-0.9%	-1.0%
Operating lease liabilities	152	156	147	-2.6%	+3.4%
Other liabilities	1,383	1,373	1,330	+0.7%	+4.0%
Total liabilities and equity	5,891	5,950	6,303	-1.0%	-6.5%
Fixed assets	1,978	1,988	2,024	-0.5%	-2.3%
Intangible assets	197	203	221	-3.0%	-10.9%
Cash and equivalents	136	194	185	-29.9%	-26.5%
Receivables	348	363	301	-4.1%	+15.6%
Inventory	1,435	1,458	1,688	-1.6%	-15.0%
Other assets	1,797	1,744	1,884	+3.0%	-4.6%
Total assets	5,891	5,950	6,303	-1.0%	-6.5%

Questions

What was Tronox Holdings' revenue in Q3 FY2026?

Tronox Holdings (TROX) reported revenue of $827 million for Q3 FY2026, the quarter ended 30 September 2026, up 18.3% on the same quarter a year earlier.

How much did Tronox Holdings earn in Q3 FY2026?

Net loss for Q3 FY2026 was $55 million, and the diluted loss per share $0.34.

When did Tronox Holdings report Q3 FY2026 results?

Tronox Holdings filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	884	965	945	895	649	708	794	662	686	774	820	804	676	738	731	699	730	760	868	827
Gross profit	218	232	263	232	105	133	157	94.0	78.0	120	150	128	117	99.0	79.0	52.0	39.0	44.0	55.0	77.0
Gross margin	25%	24%	28%	26%	16%	19%	20%	14%	11%	16%	18%	16%	17%	13%	11%	7%	5%	6%	6%	9%
SG&A	84.0	78.0	73.0	69.0	69.0	71.0	73.0	62.0	70.0	79.0	74.0	74.0	69.0	74.0	72.0	70.0	74.0	71.0	72.0	65.0
Operating income	134	69.0	190	163	36.0	62.0	84.0	32.0	8.0	41.0	76.0	54.0	48.0	-61.0	-35.0	-43.0	-114	-41.0	-21.0	12.0
Operating margin	15%	7%	20%	18%	6%	9%	11%	5%	1%	5%	9%	7%	7%	-8%	-5%	-6%	-16%	-5%	-2%	1%
Interest expense	34.0	32.0	28.0	32.0	33.0	33.0	38.0	42.0	45.0	42.0	42.0	42.0	41.0	42.0	45.0	48.0	54.0	53.0	56.0	56.0
Pre-tax income	104	34.0	152	141	-19.0	34.0	53.0	-6.0	-32.0	2.0	55.0	1.0	15.0	-106	-81.0	-92.0	-179	-104	-67.0	-50.0
Tax rate	16%	53%	-147%	13%	n/a	26%	608%	n/a	n/a	550%	82%	2600%	300%	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	83.0	16.0	375	121	-15.0	23.0	-269	-14.0	-56.0	-9.0	16.0	-25.0	-30.0	-111	-84.0	-99.0	-176	-103	-171	-55.0
Net margin	9%	2%	40%	14%	-2%	3%	-34%	-2%	-8%	-1%	2%	-3%	-4%	-15%	-11%	-14%	-24%	-14%	-20%	-7%
Diluted EPS	$0.53	$0.10	$2.37	$0.77	-$0.08	$0.15	-$1.72	-$0.09	-$0.36	-$0.06	$0.10	-$0.16	-$0.19	-$0.70	-$0.53	-$0.63	-$1.11	-$0.65	-$1.07	-$0.34
Operating cash flow	139	189	32.0	137	240	-79.0	136	17.0	110	-29.0	160	87.0	82.0	-32.0	28.0	-57.0	121	-68.0	105	62.0
Capital expenditure	89.0	103	99.0	112	114	93.0	55.0	54.0	59.0	76.0	76.0	101	117	110	83.0	80.0	68.0	67.0	45.0	57.0
Free cash flow	50.0	86.0	-67.0	25.0	126	-172	81.0	-37.0	51.0	-105	84.0	-14.0	-35.0	-142	-55.0	-137	53.0	-135	60.0	5.0
Buybacks	0.0	25.0	25.0	9.0	-9.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	19.0	1.0	40.0	19.0	27.0	2.0	48.0	19.0	20.0	1.0	40.0	20.0	19.0	0.0	20.0	20.0	8.0	8.0	8.0	8.0
Shares outstanding	154m	156m	154m	154m	154m	157m	157m	157m	157m	158m	158m	158m	158m	158m	159m	159m	159m	160m	160m	160m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.