Key Highlights

  • At June 30, 2026, Tronox Holdings (NYSE:TROX) carried net Debt equal to 11.4 times trailing adjusted EBITDA, a jump from 9.0 times at the close of 2025, with USD 3.2 billion of total debt.
  • Nordic American Tankers (NYSE:NAT) earned USD 68.3 million in the second quarter of 2026, which equals USD 0.32 a share, up from USD 46.3 million the prior quarter.
  • SFL Corporation (NYSE:SFL) announced its 90th straight quarterly payout, USD 0.22 per share, while contracted fixed-rate charters total roughly USD 3.8 billion.
  • ProFrac Holding (NASDAQ:ACDC) booked a USD 74.7 million net loss for the second quarter of 2026 on USD 498.1 million of revenue, and held roughly USD 18.8 million in cash.

Tronox Holdings (NYSE:TROX): Leverage Ratio at 11.4x Heading Into Third-Quarter Figures

Tronox Holdings (NYSE:TROX) makes titanium dioxide pigment and mineral sands products, with zircon among them. Third-quarter 2026 numbers are set to come out after the market close on November 4, 2026, followed by a call the next day, which makes this a preview with no third-quarter figures in hand. Net leverage equals net debt divided by trailing twelve-month adjusted EBITDA, which means the ratio climbs when Earnings drop even if debt holds steady, and the reading went from 9.0 times at year-end 2025 to 11.4 times at June 30, 2026. Total debt stood at USD 3.2 billion, Liquidity at USD 527 million, and the next major Maturity arrives in 2029. Second-quarter Revenue came to USD 868 million, while adjusted EBITDA hit USD 73 million and the net loss attributable to the company reached USD 171 million. The term loans and bonds include no financial covenants. Guidance for third-quarter adjusted EBITDA runs from USD 95 million to USD 115 million; the midpoint of USD 105 million is roughly 44% higher than the second-quarter figure, an own-arithmetic comparison. The screened one-year EPS change of 133.02% contrasts with the wider reported loss, so it is not counted as growth. An undated snapshot in published market data put the stock at USD 3.59, up 5.44%.

Nordic American Tankers (NYSE:NAT): Earnings Climb to USD 68.3 Million Amid an 854.98% EPS Screen

Nordic American Tankers (NYSE:NAT) operates a fleet of Suezmax Crude Oil carriers. Its report dated August 27, 2026 showed net result up roughly 48% versus the first quarter, a figure derived from two reported numbers, while time charter equivalent earnings averaged USD 63,000 per vessel each day. Part of that total came from USD 14.6 million in insurance payouts for lost hire, covering three ships trapped in the Strait of Hormuz, a benefit that may not repeat. Roughly 75% of third-quarter operating days were booked at about USD 54,000 daily, and the board approved a USD 0.27 dividend, the company's 116th consecutive quarterly cash payout. Management noted it had not tapped its at-the-market share offerings during 2026, a detail that matters because such programs can dilute existing holders. Net debt totaled USD 215.8 million across a fleet of 17 Suezmax tankers. An unconfirmed one-year EPS change of 854.98% appeared on a screen, alongside a share price around USD 7.20 and a 3.16% slide, with no snapshot date given. Starting from a feeble base makes a reading this large simple to generate, and one item of published coverage described a loss in the third quarter of 2025, a single-source claim. Spot charter rates drive tanker earnings and can drop fast.

SFL Corporation (NYSE:SFL): Quarterly Dividend No. 90 and an 85.98% EPS Screen

SFL Corporation (NYSE:SFL) leases out vessels spanning container ships, car carriers, tankers and bulkers, and runs an energy segment alongside. The USD 0.22 per share payment marks its 90th straight quarterly distribution, which works out to USD 0.88 a year (own arithmetic). Second-quarter Net Income reached USD 33.8 million, or USD 0.25 per share, and fixed-rate charter contracts represented about USD 3.8 billion, with a weighted average of 6.2 years left to run. Roughly USD 273 million of liquidity was on hand, USD 160 million of which sat in unused Credit lines, while cash totaled USD 113.1 million. Newbuild commitments still to be paid total about USD 1.2 billion, and the company issued roughly 8.8 million shares from May through July. Measured against a USD 11.89 quote, the yearly payout works out to a Yield near 7.4% (own arithmetic), and since the board decides each dividend, nothing assures it. An 85.98% one-year EPS move cannot be checked, because the release lacks a prior-year quarter comparison, and full-year 2025 showed a loss of USD 0.20 per share, a low starting point. Third-quarter figures were due on November 4, 2026, and none had been posted when this was compiled.

ProFrac Holding (NASDAQ:ACDC): Second-Quarter Loss of USD 74.7 Million and a 30.9% EPS Screen

ProFrac Holding (NASDAQ:ACDC) provides oilfield services through hydraulic fracturing, proppant output, Manufacturing and the Flotek chemicals unit. Its second-quarter 2026 release, dated August 6, 2026, put revenue at USD 498.1 million, compared with USD 449.6 million in the first quarter, and the net loss at USD 74.7 million against USD 80.8 million. Adjusted EBITDA climbed to USD 69.4 million. Operating Cash Flow was USD 22.9 million, short of roughly USD 32 million of capital expenditure. Total principal debt approached USD 1.10 billion, net debt was about USD 1.08 billion, and free cash flow came in at negative USD 7.9 million. A one-year EPS change of 30.9% appeared on the screen, but the release never reported earnings per share, so it cannot be verified. Since the Business loses money, that figure most likely reflects a narrower loss per share rather than profit growth, and a move off a negative base can look large while the company remains unprofitable. A quote near USD 3.89, off 6.83%, came from published market data. Matt Wilks replaced Ladd Wilks as chief executive, a change effective August 7, 2026.

Where Things Stand

Tronox Holdings (NYSE:TROX) reached 11.4 times net leverage because net debt is large against trailing adjusted EBITDA, while the EPS screens for the other three names rest on weak bases, losses or figures that cannot be checked. Its climb from 9.0 times is a debt-to-earnings measure, not an EPS growth signal. Nordic American Tankers (NYSE:NAT) posts a very large screened figure that comes from a weak starting point. A long dividend record sits alongside a low 2025 earnings base for SFL Corporation (NYSE:SFL). ProFrac Holding (NASDAQ:ACDC) still posts losses, so its screened gain most likely reflects a narrower loss. No screened EPS figure has been confirmed, and quotes carry no dates. Next, look for the Tronox third-quarter release, SFL's results, the next NAT report and ProFrac's debt and cash position.