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Tronox Holdings (TROX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Tronox Holdings (TROX) Q3 2026 earnings results →
Q3 2026 Revenue up 18% year over year to $827M · 7¢ of every $1 of revenue lost · operating margin 1.5%
Tronox Holdings made $827M in Q3 2026 (+18% Y/Y): TiO2 $653M, Zircon $93.0M, Other Products $81.0M. Operating margin 1.5%, net loss $56.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
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What changed this quarter
Revenue was $827.0M in Q3 2026, up 18% year over year and down 5% from the previous quarter. TiO2 was the largest line at 79% of revenue. TiO2 added $103.0M year over year (up 19%), 80% of the total change. Other Products declined 10%.
Gross margin was 9.3%, up 1.9 points from Q3 2025. Operating profit was $12.0M, a 1.5% margin (up 7.6 points year over year). Operating expenses fell 32% while revenue rose 18%. The quarter ended with a net loss of $56.0M, narrower than the previous quarter's $173.0M loss. Minority interests bore $1.0M of it: to shareholders the quarter was a loss of $55.0M. Net interest and other expense of $62.0M was the main reason.
Operating cash flow was $62.0M. Non-cash charges added back $76.0M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items added $36.0M. Capital expenditures of $57.0M left free cash flow of $5.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $827M | +18% | 1.5% | −$56.0M | $62.0M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $868M | +19% | -2.4% | −$173M | $105M |
| Q1 2026 | 10-Q | May 7, 2026 | $760M | +3% | -5.4% | −$104M | −$68.0M |
| Q4 2025 | 10-K | Feb 20, 2026 | $730M | +8% | -15.6% | −$177M | $121M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $699M | -13% | -6.2% | −$100M | −$57.0M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $731M | -11% | -4.8% | −$85.0M | $28.0M |
| Q1 2025 | 10-Q | May 1, 2025 | $738M | -5% | -8.3% | −$111M | −$32.0M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Tronox Holdings
Tronox is the world’s leading vertically integrated manufacturer of TiO 2 pigment. We operate titanium-bearing mineral sand mines and beneficiation and smelting operations in Australia and South Africa to produce feedstock materials that can be processed into TiO 2 for pigment, high purity titanium chemicals, including titanium tetrachloride, and ultrafine TiO 2 used in certain specialty applications. Our strategy is to be vertically integrated and produce enough feedstock materials to be as self-sufficient as possible in the production of TiO 2 at our seven pigment facilities located in the United States, Australia, Brazil, UK, France, and the Kingdom of Saudi Arabia. We believe that vertical integration is the best way to achieve our ultimate goal of delivering low cost, high-quality pigment to our approximately 1,200 TiO 2 customers throughout the world.
In its own words, from its 10-K, filed Feb 20, 2026.
Tronox Holdings against its Industrial Inorganic Chemicals peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +18% against the peers' median +10%. Operating margin: 1.5% against the peers' median 11.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TROX Tronox Holdings | Q3 2026 | $827M | +18% | 1.5% |
| LIN Linde | Q3 2026 | $9.4B | +9% | 22.9% |
| APD Air Products & Chemicals | Q4 FY26 | $3.6B | +12% | 17.8% |
| VHI Valhi | Q3 2026 | $589M | +17% | 11.4% |
| MTX Minerals Technologies | Q3 2026 | $555M | +4% | 11.7% |
| KRO Kronos Worldwide | Q3 2026 | $541M | +18% | 10.7% |
| LXU LSB Industries | Q3 2026 | $159M | +2% | 16.9% |
| LXFR Luxfer Holdings | Q3 2026 | $91.7M | -4% | 3.1% |
| NL NLI Holdings | Q3 2026 | $44.0M | +10% | 7.1% |
Source: Tronox Holdings 10-Q on SEC EDGAR · CIK 1530804 · Industrial Inorganic Chemicals
Guidance and outlook
More on TROX
- How Tronox Holdings makes money: revenue by segment
- Tronox Holdings next earnings date and what analysts expect
- Tronox Holdings stock forecast, price target and fair value
- Tronox Holdings guidance and outlook
- Is Tronox Holdings a takeover target? LBO and rumors
- Tronox Holdings recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results