Kronos Worldwide reports Q2 net loss of $8.2M vs $45.9M profit; revenue down 22%

KRONOS WORLDWIDE INC

2023-Q2 EPS reported -$0.20 revenue$869,500,000

Net loss per share $0.07 vs income of $0.40 in Q2 2022; first-half net loss $23.4M ($0.20/shr) vs income $103.4M ($0.90).
Revenue $443.2M (Q2) and $869.5M (6M), down 22% and 23% YoY respectively on lower TiO2 volumes.
TiO2 sales volumes fell 26% in Q2 and 28% in 6M; average selling prices down 2% Q2 but up 1% in 6M.
Production capacity utilization dropped to 64% in Q2 (70% in 6M) vs 95-98% last year; fixed cost under-absorption $22M/$54M.
Quarterly dividend maintained at $0.19 per share, payable Sept. 14, 2023 to holders of record Sept. 1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KRONOS WORLDWIDE INC reported second quarter of 2023 results: revenue Net sales of $443.2 million, net income net loss of $8.2 million, EPS $.07 per share loss.

Period: second quarter of 2023
Revenue: Net sales of $443.2 million
Net income: net loss of $8.2 million
EPS: $.07 per share loss
Result: reported results

Exact text from the filing

and unabsorbed fixed production and other costs, as discussed further below. Our results were also impacted by the effects of changes in currency exchange rates. Net sales of $443.2 million in the second quarter of 2023 were $122.1 million, or 22%, lower than in the second quarter of 2022. Net sales of $869.5 million in the first six months of 2023 were $258.7

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Source: SEC EDGAR

accession 0001257640-23-000035

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