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Mar 31, 2022
Kronos Q1 2022 Earnings Report
Kronos Worldwide reported increased net income due to higher TiO2 selling prices and sales volumes.
Key Takeaways
Kronos Worldwide reported a significant increase in net income for Q1 2022, driven by higher average TiO2 selling prices and increased sales volumes. Net sales also increased, although were negatively impacted by currency exchange rates.
Net income increased to $57.5 million, or $0.50 per share, compared to $19.6 million, or $0.17 per share, in Q1 2021.
Net sales rose to $562.9 million, a $97.9 million (21%) increase from Q1 2021.
TiO2 sales volumes increased by 2% compared to Q1 2021.
Average TiO2 selling prices were 24% higher than in Q1 2021, with prices at the end of Q1 2022 being 7% higher than at the end of 2021.
Kronos
Kronos
Forward Guidance
The Company disclaims any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise.