Kronos reports Q1 net loss of $15.2M vs $57.5M profit; TiO2 sales volumes down 29%

KRONOS WORLDWIDE INC

2023-Q1 EPS reported -$0.13 revenue$426,300,000

Net loss of $15.2M ($0.13 per share) vs net income of $57.5M ($0.50) in Q1 2022.
Net sales of $426.3M, down 24% YoY; TiO2 sales volumes fell 29%.
TiO2 segment reported a loss of $14.8M vs profit of $86.8M in prior-year quarter.
Production curtailments caused $22M of unabsorbed fixed costs; capacity utilization 76%.
EBITDA turned negative at ($5.0M) from $93.2M in Q1 2022.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KRONOS WORLDWIDE INC reported first quarter of 2023 results: revenue $426.3 million, net income net loss of $15.2 million, EPS $.13 per share.

Period: first quarter of 2023
Revenue: $426.3 million
Net income: net loss of $15.2 million
EPS: $.13 per share
Result: reported results

Exact text from the filing

of our products occurring in all major markets, as discussed further below. Our results were also impacted by the effects of changes in currency exchange rates. Net sales of $426.3 million in the first quarter of 2023 were $136.6 million, or 24%, lower than in the first quarter of 2022. Net sales comparisons were impacted by the net effects of lower sales volumes

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Source: SEC EDGAR

accession 0001257640-23-000022

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