secwatch.observer — SEC 8-K summary
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Issuer:     KRONOS WORLDWIDE INC (KRO)
CIK:        0001257640
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001257640-24-000041
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kronos returns to profit in Q2; acquires LPC for $185M, cuts dividend to $0.05/share
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- Q2 net income $19.5M ($0.17/diluted share) vs net loss $8.2M ($0.07) a year ago; sales up 13% to $500.5M.
- TiO2 segment profit $41.1M (vs loss $2.3M in Q2 2023); sales volumes +29% YoY, average prices -8%.
- Acquired remaining 50% of Louisiana Pigment Co. for $185M upfront plus $15M earn-out; financed via revolver draw.
- Quarterly dividend reduced to $0.05 per share beginning Q3 2024 to support debt service, leverage reduction and capex.
- Issued €75M of 9.50% Senior Secured Notes at 107.5% premium; amended revolver to $300M with maturity extended to 2029.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1257640/000125764024000041/0001257640-24-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1257640/000125764024000041/kro-20240807x8k.htm
  HTML page:      https://secwatch.observer/filing/0001257640-24-000041

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer