Filing Flows › Tronox Holdings (TROX) › Q2 2025
Tronox Holdings (TROX) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Tronox Holdings (TROX) reported revenue of $731M for the second quarter 2025 (Q2 2025), -11% from a year earlier and -0.9% from the quarter before. Operating margin was -4.8%, net loss $85.0M (11.6% of revenue).
Tronox Holdings, Q2 2025: revenue $731M (-11% year over year), operating margin -4.8%, net loss $85.0M, operating cash flow $28.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $731M | -0.9% | -11% |
| Operating profit | −$35.0M | — | — |
| Net earnings | −$85.0M | — | — |
| Operating cash flow | $28.0M | — | -82% |
What changed
Revenue was $731.0M in Q2 2025, down 11% year over year and down 1% from the previous quarter. TiO2 was the largest line at 80% of revenue. TiO2 lost $66.0M year over year (down 10%), 74% of the total change.
Gross margin was 10.8%, down 7.5 points from a year earlier. Operating costs exceeded revenue by $35.0M, an operating margin of -4.8%. Operating expenses grew 54% against a revenue fall of 11%. The quarter ended with a net loss of $85.0M, narrower than the previous quarter's $111.0M loss. Minority interests bore $1.0M of it: to shareholders the quarter was a loss of $84.0M. Net interest and other expense of $46.0M was the main reason.
Operating cash flow was $28.0M (down 82% year over year). Non-cash charges added back $74.0M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items added $35.0M. Capital expenditures of $83.0M exceeded it, leaving free cash flow of −$55.0M.
Questions
What was Tronox Holdings' revenue in the second quarter 2025?
Tronox Holdings (TROX) reported revenue of $731M for the second quarter 2025 (Q2 2025), -11% from a year earlier and -0.9% from the quarter before.
Was Tronox Holdings profitable in the second quarter 2025?
Operating loss was $35.0M (-4.8% of revenue) and net loss $85.0M.
Source: Tronox Holdings 10-Q on SEC EDGAR.