IHS Chemical Week

Markets :: Specialty Chemicals :: Paints and Coatings

Tronox falls short of estimates, but sales rise on mineral sands acquisition

8:56 AM MST | November 13, 2012 | Lindsay Frost

Tronox reported a net loss in earnings for the third quarter 2012, although sales rose because of its acquisition of Exxaro’s mineral sands business in the quarter. Net income swung to a loss of $16.7 million compared to a gain of $98.9 million in the same quarter 2011. Adjusted earnings were reported as $25.6 million, or 21 cts/share, down 75% year-on-year (YOY). Earnings per share fell below analyst estimates of 45 cts/share, according to Thomson Reuters (New York). The current quarter also includes $106.8 million of adjusted Ebitda from the acquisition...

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