Why Shares of Tronox Holdings Are Climbing Today
Shares of Tronox Holdings (NYSE: TROX) were up 6% on Wednesday afternoon, and jumped 12% earlier in the day, after the materials producer delivered better-than-expected quarterly earnings and boosted its dividend by 56%. The company sees challenging times ahead but seems to be managing through the worst of it.
Tronox reported fourth-quarter adjusted earnings of $0.14 per share -- $0.02 better than expectations -- on revenue that came in about $25 million short of consensus at $693 million. The company, a producer of titanium dioxide used as a pigment for coatings, is in a period of transition after acquiring rival Cristal's North American Titanium Dioxide business last year.
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Source Fool.com
