Quarterly ResultMay 6, 2026, 04:19 PM
Kronos Worldwide Q1 Net Loss $4.8M; Sales Up 4% to $509.8M
AI Summary
Kronos Worldwide Inc. reported a net loss of $4.8 million, or $.04 per share, in the first quarter of 2026, a significant decline from net income of $18.1 million in the prior year period. Despite a 4% increase in net sales to $509.8 million, driven by higher sales volumes and favorable currency exchange rates, income from operations decreased substantially due to lower average TiO2 selling prices and reduced production volumes. The company's gross margin also declined, and the net loss includes a $2.0 million income tax expense related to a German tax audit.
Key Highlights
- Reported a net loss of $4.8 million ($.04 per share) in Q1 2026, compared to net income of $18.1 million ($.16 per share) in Q1 2025.
- Net sales increased 4% to $509.8 million in Q1 2026 from $489.8 million in Q1 2025.
- Income from operations decreased to $12.6 million in Q1 2026 from $38.4 million in Q1 2025.
- Gross margin declined to 16% of net sales in Q1 2026 from 22% in Q1 2025.
- TiO2 sales volumes increased 4% in Q1 2026, while average TiO2 selling prices decreased 6%.
- Incurred $2.0 million income tax expense in Q1 2026 for an uncertain tax position related to a German tax audit.
- Long-term debt increased to $602.7 million at March 31, 2026, from $557.4 million at December 31, 2025.
- Paid dividends of $5.8 million ($.05 per share) in Q1 2026.
Price Impact
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