Kronos Q2 2023 Earnings Report
Key Takeaways
Kronos Worldwide, Inc. reported a net loss of $8.2 million, or $.07 per share, in the second quarter of 2023 compared to net income of $45.9 million, or $.40 per share, in the second quarter of 2022. Net sales were $443.2 million in the second quarter of 2023, a decrease of 22% compared to the second quarter of 2022. The results were impacted by reduced demand and changes in currency exchange rates.
Net loss of $8.2 million, or $.07 per share, compared to net income of $45.9 million, or $.40 per share in Q2 2022.
Net sales decreased by 22% to $443.2 million due to lower sales volumes in all major markets and slightly lower average TiO2 selling prices.
TiO2 sales volumes were 26% lower compared to Q2 2022.
Average TiO2 selling prices were 2% lower compared to Q2 2022.