This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tronox Limited Announces Preliminary Unaudited 2012 Financial Results

STAMFORD, Conn., Feb. 7, 2013 /PRNewswire/ -- Tronox Limited (NYSE: TROX) announced today that it expects to report fourth-quarter 2012 revenue of $482 million and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $70 million, which is below previous guidance, due to the combined effect of three scheduled ore shipments in the quarter that were either delayed or cancelled by customers and a $9.6 million lower of cost or market (LCM) inventory write-down.  One of the delayed shipments constituting 10,000 metric tons of chloride slag was shipped on January 7, 2013.  In addition, while zircon sales volumes were approximately as forecast, zircon prices in the fourth quarter were roughly 12 percent below forecast. 


For the first time since 2005, fourth-quarter pigment sales volumes were higher than those of the preceding third quarter.  The sequential difference was only 1,429 metric tons, but the company views this increase in what is normally a seasonally affected lower quarter as a positive sign.  Nevertheless, because prices declined 10.7 percent sequentially, which was more than the company had forecast, adjusted EBITDA from pigment sales was approximately $10 million less than forecasted.

The aggregate EBITDA effect of the missed mineral sands shipments, the zircon pricing, the LCM charge, and the pigment shortfall was partially offset by operating cost savings achieved across all business units.

Tronox had a cash balance of $716 million at year-end 2012.

The company also announced that it is evaluating opportunities to refinance its term loan under more favorable terms and conditions, given the current debt market environment. 

In accordance with normal procedures, these unaudited preliminary revenue and other results are subject to further review and completion of year-end accounting processes by the company and its auditors, which include the finalization of potentially significant items that could affect these results. As a result, preliminary net income estimates are not available at this time.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.30 -0.92%
FB $118.08 0.55%
GOOG $695.81 0.50%
TSLA $234.18 0.80%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs