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TRANSCRIPT: Tronox - 3Q 2016

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TRANSCRIPT: Tronox - 3Q 2016

November 03, 2016 - 14:42
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OAKLAND, CA, Nov. 3, 2016 (RISI) -OAKLAND, CA XX, 2011 (RISI) -

The transcript of Tronox’ third quarter 2016 financial results conference call on Nov. 3, 2016, with CEO Thomas J. Casey, is now available at Seeking Alpha.

EXCERPT:Our Alkali business returned to adjusted EBITDA and free cash flow levels that overcame and even exceeded that series of one-off items that impacted results in the second quarter. In TiO2, pigment selling prices increased by 6% sequentially and were 1% above the prior-year quarter, confirming that our positive inflection is significant, this marks the first time since the third quarter of 2012 that pigment prices were higher on a year-on-year basis.

And we'll talk about it in more detail later in our remarks. We do not expect pigment prices to revert in what is normally the seasonally light fourth quarter. We continue to match pigment production volumes to sales volumes and to keep inventory at or below normal levels even though our utilization rate on the plants increased to essentially full production in the quarter.

Alkali revenue of $194 million decreased from $204 million in that record high second quarter. And this is largely due to the timing of sales in both the domestic and the export markets. Sales volumes were 5% lower, while sales prices were about level.

For the full transcript including the question and answer period click here: Seeking Alpha: Tronox.

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