Tronox beats by $0.10, beats on revs; announces extension to Cristal TiO2 acquisition agreement
- Reports Q4 (Dec) earnings of $0.12 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.02; revenues rose 31.8% year/year to $464 mln vs the $428.22 mln Capital IQ Consensus.
- "The fourth quarter provided a strong finish to a very successful year for us strategically, financially and operationally. We continued to build on the momentum generated in earlier quarters -- momentum that we see continuing in 2018. Our TiO2 business delivered robust performance in the quarter, posting revenue growth of 32%."
- Co also announces the parties have agreed to an extension of the previously announced agreement to acquire the titanium dioxide (TiO2) business of Cristal, a privately held chemical and mining company headquartered in Jeddah, Saudi Arabia. The parties agreed to extend the end date for the transaction from May 21, 2018 to June 30, 2018 with automatic three-month extensions until March 31, 2019, if necessary.