Venator Materials

Venator Materials Plc engages in the manufacture and marketing of chemical products. It operates through two segments: Titanium Dioxide and Performance Additives. The Titanium Dioxide segment involves the creation of (TiO2) from titanium bearing ores and is a white inert pigment that provides whiteness, opacity and brightness to thousands of everyday items, including coatings, plastics, paper, printing inks, fibers, food and personal care products. The Performance Additives segment consists of functional additives, color pigments, timber and water treatment businesses. The company was founded on April 28, 2017 and is headquartered in Wynyard Park, the United Kingdom.

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Venator Materials Plc engages in the manufacturing and marketing of chemical products. It operates through two segments: Titanium Dioxide and Performance Additives. The Titanium Dioxide segment involves the creation of (TiO2) from titanium bearing ores and is a white inert pigment that provides whiteness, opacity and brightness to thousands of everyday items, including coatings, plastics, paper, printing inks, fibers, food and personal care products. The Performance Additives segment consists of functional additives, color pigments, timber and water treatment businesses. The company was founded on April 28, 2017 and is headquartered in Stockton-on-Tees, the United Kingdom.

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the ordinary shares of Venator Materials PLC (the “Company”) — ticker symbol VNTR — from the NYSE. Trading in the Company's ordinary shares will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D after the.

NYSE to Suspend Trading Immediately in Venator Materials PLC (VNTR) and Commence Delisting Proceedings

WYNYARD, UK, May 15, 2023 /PRNewswire/ -- Venator Materials PLC ("Venator" or the "Company") (NYSE: VNTR), a global manufacturer and marketer of chemical products, announces that it has reached an agreement with the overwhelming majority of its lenders and noteholders on the terms of a comprehensive recapitalization plan. The agreement will equitize nearly all of the Company's funded debt, strengthen its balance sheet and facilitate an infusion of new capital, which will position the Company for future growth and success.

Venator Reaches Comprehensive Agreement to Enter Prepackaged Chapter 11 to Significantly Reduce Debt and Promptly Emerge Positioned for Long-Term Growth

WYNYARD, UK, April 3, 2023 /PRNewswire/ -- Venator Materials PLC ("Venator") (NYSE: VNTR) announced today that it has completed the sale of its Iron Oxide business to Cathay Industries. The enterprise value of the transaction was $140 million and Venator expects to receive cash proceeds of approximately $130 million net of working capital adjustments, taxes, fees and other closing cash adjustments.

Venator Completes Divestiture of Iron Oxide Business

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WYNYARD, UK,  Feb. 23, 2023 /PRNewswire/ -- Venator Materials PLC ("Venator") (NYSE: VNTR) has filed its annual report on Form 20-F for the year ended December 31, 2022, with the U.S. Securities and Exchange Commission. The 2022 Form 20-F is available on Venator's website at https://www.venatorcorp.com/investor-relations and on the website of the U.S. Securities and Exchange Commission at www.sec.gov.

Venator Files Annual Report on Form 20-F

Venator Materials PLC (NYSE:VNTR ) Q4 2022 Earnings Conference Call February 21, 2023 8:00 AM ET Company Participants Kate Robertson - IR Simon Turner - President & CEO Kurt Ogden - EVP & CFO Conference Call Participants Operator Hello, and welcome to the Venator Fourth Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode.

Venator Materials PLC (VNTR) Q4 2022 Earnings Call Transcript

Ventator Materials (VNTR) delivered earnings and revenue surprises of 66.10% and 6.63%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Ventator Materials (VNTR) Reports Q4 Loss, Lags Revenue Estimates

WYNYARD, UK, Feb. 21, 2023 /PRNewswire/ --  Fourth Quarter 2022 and Other Highlights The macro-economic environment deteriorated sharply in the second half of 2022 leading to significantly lower product demand and higher raw material and energy costs, with TiO2 sales volumes (44)% lower compared to the fourth quarter 2021 and (28)% lower compared to the prior period Net loss attributable to Venator of $(228) million compared to net income of $14 million in the prior year period Adjusted EBITDA of $(57) million compared to $40 million in the prior year period Net cash used in operating activities was $(27) million and free cash flow was $(48) million Diluted loss per share of $(2.11) and adjusted diluted loss per share of $(0.20) Venator has initiated a $50 million cost reduction program Closed a sale-leaseback transaction for Color Pigments manufacturing facility in Los Angeles, California for $51 million on October 7, 2022 On November 14, 2022 entered into a definitive agreement to divest the iron oxide business from within the Color Pigments business to Cathay Industries for an enterprise value of $140 million In-depth strategic operational and capital structure review continues, bolstered by the appointment of two new independent directors, Stefan M. Selig and Jame Donath, who bring extensive and highly relevant experience to the Board Full-Year 2022 Highlights Net loss attributable to Venator of $(188) million compared to $(77) million in the prior year Adjusted EBITDA of $53 million compared to $180 million in the prior year Net cash used in operating activities of $(114) million and free cash flow of $(183) million Diluted loss per share of $(1.74) and adjusted diluted loss per share of $(0.34)   Three months ended Twelve months ended December 31, September 30,2022 December 31, (In millions, except per share amounts) 2022 2021 2022 2021 Revenues $    366 $    535 $           506 $   2,173 $   2,212 Net (loss) income attributable to Venator $   (228) $      14 $           (50) $    (188) $      (77) Adjusted net (loss) (2) $     (22) $      (5) $           (36) $      (37) $        (1) Adjusted EBITDA (1) $     (57) $      40 $             (8) $       53 $     180 Diluted (loss) income per share $  (2.11) $   0.13 $        (0.46) $   (1.74) $   (0.72) Adjusted diluted (loss) earnings per share (1).

Venator Announces Fourth Quarter and Full-Year 2022 Results, Strategic Review Underway Against Challenging Macroeconomic Backdrop

Ventator Materials (VNTR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate Ventator Materials (VNTR) to Report a Decline in Earnings: What to Look Out for

WYNYARD, UK, Feb. 9, 2023 /PRNewswire/ -- Venator Materials PLC (NYSE: VNTR) ("Venator") will hold a conference call to discuss its fourth quarter and full year 2022 financial results on Tuesday, February 21, 2023, at 08:00 a.m. ET. Results will be released to the public before the market opens that day via PR Newswire.

Venator to Discuss Fourth Quarter and Full Year 2022 Results on February 21, 2023

Fourth Quarter 2022 Highlights Macro environment continues to be challenging due to significantly higher energy costs and lower product demand Adjusted EBITDA for the fourth quarter of 2022 estimated to be negative $(57)-(62) million Liquidity position is estimated at approximately $275 million as of December 31, 2022 Moelis & Company and Kirkland & Ellis appointed as respective financial and legal advisors, in addition to Alvarez & Marsal as the previously engaged operational advisor, to assist with strategic review and engagement with stakeholders Appointment of two new independent directors, Stefan M. Selig and Jame Donath, who bring extensive and highly relevant experience to the Board Stefan M.

Venator Strategic Review Update, Appointment of Advisors, Two New Independent Directors and Chairman, Engagement with Stakeholders

Fintel reports that J&T MS 1 SICAV a.s. has filed a 13D/A form with the SEC disclosing ownership of 15,401,123 shares of Venator Materials PLC (VNTR). This represents 14.25% of the company.

J&T Calls for Changes in Venator's Board to Address Underperformance

PRAGUE--( BUSINESS WIRE )--Today J&T MS 1 SICAV (together with its affiliates, “J&T”), which owns approximately 14.3% of Venator Materials Plc (“Venator” or the “Company”) (NYSE: VNTR), making it the Company's second-largest shareholder, sent a public letter to Venator's Board of Directors (the “Board”). The letter outlines J&T's concerns regarding the Board's apparent unwillingness to meaningfully engage with J&T, as well as the Company's stark financial and stock price underperformance and apparent lack of strategic direction. J&T also stresses that the incumbent Board appears to have squandered its credibility with investors and should not be trusted to chart the course forward for Venator without additional independent shareholder representation.

J&T Sends Public Letter to Venator Materials Board Highlighting Urgent Case for Boardroom Change

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Venator automates Product Carbon Footprint with Atos

New partnership supports Venator's sustainability ambition WYNYARD, UK, Dec. 7, 2022 /PRNewswire/ -- Venator (NYSE: VNTR) today announced that it is working with Atos – a global leader in digital transformation – to measure the carbon footprint of its products. As Venator increases its focus on sustainability across its operations, this strategic project will enable the business to deliver data on the carbon footprint of its products to its customers and accelerate its sustainability ambitions.

VENATOR AUTOMATES PRODUCT CARBON FOOTPRINT WITH HELP FROM ATOS

Venator Materials PLC. (NYSE:VNTR ) Q3 2022 Earnings Conference Call November 14, 2022 8:00 AM ET Company Participants Kate Robertson - Investor Relations Simon Turner - President and Chief Executive Officer Kurt Ogden - Executive Vice President and Chief Financial Officer Conference Call Participants David Begleiter - Deutsche Bank Josh Spector - UBS Will Tang - Morgan Stanley Arun Viswanathan - RBC Capital Markets John McNulty - BMO Capital Markets Matthew DeYoe - Bank of America Roger Smith - Bank of America Jay Mayers - Goldman Sachs Operator Good day and welcome to the Venator Third Quarter 2022 Earnings Conference Call.

Venator Materials PLC (VNTR) Q3 2022 - Earnings Call Transcript

Ventator Materials (VNTR) delivered earnings and revenue surprises of -450% and 7.62%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Ventator Materials (VNTR) Reports Q3 Loss, Lags Revenue Estimates

WYNYARD, UK, Nov. 14, 2022 /PRNewswire/ -- Third Quarter 2022 Highlights Net loss attributable to Venator of $50 million compared to $47 million in the prior year period Adjusted EBITDA of $(8) million compared to $48 million in the prior year period Net cash used in operating activities of $74 million and free cash flow of $(90) million  Diluted earnings per share of $(0.46) and adjusted diluted earnings per share of $(0.33) Titanium Dioxide (TiO2) sales volumes declined 25% compared to the prior quarter and 29% compared to the prior year period Implements a $50 million cost reduction program Closed a sale-leaseback transaction for Color Pigments manufacturing facility in Los Angeles, California for $51 million on October 7, 2022 On November 14, 2022 entered into a definitive agreement to divest the iron oxide business from within the Color Pigments business to Cathay Industries for an enterprise value of $140 million Three months ended Nine months ended September 30, June 30 September 30, (In millions, except per share amounts) 2022 2021 2022 2021 Revenues $      506 $      557 $       642 $     1,807 $  1,677 Net (loss) income attributable to Venator $       (50) $       (47) $         93 $         40 $     (91) Adjusted net (loss) income attributable to Venator(1) $       (36) $          3 $         14 $        (15) $        4 Adjusted EBITDA(1) $         (8) $        48 $         61 $       110 $     140 Diluted (loss) earnings per share (4) $    (0.46) $    (0.44) $      0.86 $      0.37 $  (0.85) Adjusted diluted (loss) earnings per share(1) $    (0.33) $     0.03 $      0.13 $     (0.14) $    0.04 Net cash (used in) provided by operating activities $       (74) $          7 $         73 $        (87) $        2 Free cash flow(3) $       (90) $       (13) $         58 $      (135) $     (45) See end of press release for footnote explanations Venator Materials PLC ("Venator") (NYSE: VNTR) today reported third quarter 2022 results with revenues of $506 million, net loss attributable to Venator of $50 million, adjusted net loss attributable to Venator of $36 million and adjusted EBITDA of $(8) million. Simon Turner, President and CEO of Venator, commented: "Throughout the third quarter, macro-economic uncertainty increased.

Venator Announces Third Quarter 2022 Results and Signs Agreement to Sell its Iron Oxide Business

WYNYARD, UK, Nov. 4, 2022 /PRNewswire/ -- Venator Materials PLC (NYSE: VNTR) ("Venator") received written notice on November 2, 2022, from the NYSE indicating that Venator is no longer in compliance with the continued listing standard set forth in Section 802.01C of the NYSE's Listed Company Manual because the average closing price of the Company's ordinary shares was less than $1.00 per share over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the company's ordinary shares from the NYSE.

Venator Receives Notice from NYSE

WYNYARD, UK, Oct. 10, 2022 /PRNewswire/ -- Venator Materials PLC (NYSE: VNTR) ("Venator") today announced that its U.S. affiliate has closed a sale-leaseback transaction for its Color Pigments manufacturing facility located in Los Angeles, California, with New Mountain Net Lease ("New Mountain") for $51.3 million. As part of the transaction, Venator entered into an agreement to lease the property from New Mountain for an initial period of 15 years, with an option to extend the lease for two additional terms of approximately 10 years each.

Venator Closes Sale-Leaseback Transaction for $51 Million

Shares of Venator Materials PLC VNTR, -1.27% sank 8.1% in premarket trading Thursday, to match last week's record-low closing price, after the chemical products maker warned of sales weakness in the third quarter. The company said it expects to report third-quarter titanium dioxide (TiO2) sales volumes that are about 25% below second-quarter levels.

Venator stock sinks after another warning of slowing TiO2 sales

WYNYARD, United Kingdom , Oct. 6, 2022 /PRNewswire/ -- Venator Materials PLC (NYSE: VNTR) ("Venator") today provided a third quarter business update. Simon Turner, President and CEO of Venator, commented, "During the third quarter we saw a meaningful decline in sales volume for our TiO2 products in the European and Asian regions.

Venator Provides Third Quarter 2022 Business Update and Announces Earnings Conference Call

Venator Materials booked an adjusted net income of $14 million in Q2 2022 as average selling prices at its titanium dioxide business rose by 31% year on year. However, titanium dioxide prices in China have declined significantly over the past few months and Venator Materials could face significant pricing pressure in Europe soon.

Venator Materials Could Struggle To Pass On Cost Increases To Its Clients

WYNYARD, UK, Aug. 9, 2022 /PRNewswire/ -- Venator Materials PLC (NYSE: VNTR) ("Venator") today announced the resignation of Kathy Patrick from its Board of Directors and the appointment of Miguel Kohlmann to its Board of Directors, both effective August 9, 2022. Ms. Patrick has served as a director since the Company's IPO in 2017 and served on Venator's Audit Committee and Compensation Committee at the time of her resignation.

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