Kronos Worldwide, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:15 pm EDT
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Kronos Worldwide, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 396.9 million compared to USD 459.6 million a year ago. Net loss was USD 20.4 million compared to net income of USD 21 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to basic earnings per share from continuing operations of USD 0.18 a year ago.
For the nine months, sales was USD 1,266.4 million compared to USD 1,587.8 million a year ago. Net loss was USD 43.8 million compared to net income of USD 124.4 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to basic earnings per share from continuing operations of USD 1.08 a year ago.
Kronos Worldwide, Inc. is a global producer and marketer of value-added titanium dioxide pigments, or TiO2, a base industrial product used in a wide range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products. TiO2 is a white inorganic pigment used in applications, such as coatings, plastics and paper, as well as many specialty products such as inks, cosmetics and pharmaceuticals. The Company offers its customers a broad portfolio of products that include over 50 different TiO 2 pigment grades under the KRONOS trademark, which provide a variety of performance properties to meet customers' specific requirements. The Company manufactures and sells iron-based chemicals, which are co-products and processed co-products of the sulfate and chloride process TiO2 pigment production. It also manufactures and sells other specialty chemicals, which are side-stream products from the production of TiO2.