Kronos Q3 net income falls 42% to $0.18/sh; sales down 8% on 20% lower TiO2 volumes

KRONOS WORLDWIDE INC

2022-Q3 EPS reported $1.08 revenue$1,587,800,000

Q3 net income $21.0M ($0.18/sh) vs $36.0M ($0.31/sh) YoY; nine-month net income $124.4M ($1.08/sh) up from $81.3M ($0.70/sh).
Q3 net sales $459.6M (-8% YoY); TiO2 sales volumes down 20% YoY; average prices up 21% YoY.
Segment profit Q3 $34.6M (down from $60.8M); nine-month $190.9M (up from $146.6M).
Production capacity utilization fell to 93% in Q3 from 100% in Q3 2021 due to maintenance and demand alignment.
Currency (euro) reduced Q3 sales by ~$31M but boosted operating income by ~$13M YoY.

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