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Jun 30, 2021
Kronos Q2 2021 Earnings Report
Kronos Worldwide reported increased net sales and net income compared to the same quarter last year.
Key Takeaways
Kronos Worldwide reported net sales of $478.6 million and net income of $25.7 million for the second quarter of 2021. Net sales increased due to higher sales volumes and higher average TiO2 selling prices. Net income increased due to higher income from operations.
Net sales increased by 24% compared to Q2 2020, reaching $478.6 million.
Net income was $25.7 million, or $0.22 per share, compared to $18.6 million, or $0.16 per share, in Q2 2020.
TiO2 sales volumes were 16% higher than in Q2 2020.
Average TiO2 selling prices were 3% higher than in Q2 2020.
Kronos
Kronos
Forward Guidance
The company's future performance is subject to various risks and uncertainties, including supply and demand for products, economic conditions, and fluctuations in currency exchange rates.
Challenges Ahead
- Future supply and demand for our products
- The extent of the dependence of certain of our businesses on certain market sectors
- The cyclicality of our business
- Customer and producer inventory levels
- Unexpected or earlier-than-expected industry capacity expansion