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Mar 31, 2023
Kronos Q1 2023 Earnings Report
Kronos Worldwide reported a net loss, impacted by lower sales volumes and higher production costs, despite higher average TiO2 selling prices.
Key Takeaways
Kronos Worldwide, Inc. reported a net loss of $15.2 million, or $.13 per share, for Q1 2023, a significant decrease compared to the net income of $57.5 million, or $.50 per share, in Q1 2022. The decline was primarily due to lower sales volumes, higher production costs, and the impact of currency exchange rates.
Net sales decreased by 24% to $426.3 million compared to Q1 2022.
TiO2 sales volumes were 29% lower than in the first quarter of 2022.
Average TiO2 selling prices were 4% higher than in the first quarter of 2022 but 4% lower than at the end of 2022.
The company's TiO2 segment experienced a loss of $14.8 million, compared to a profit of $86.8 million in Q1 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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