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Dec 31, 2021
Kronos Q4 2021 Earnings Report
Reported increased net income and sales due to higher TiO2 selling prices and sales volumes.
Key Takeaways
Kronos Worldwide reported a strong fourth quarter in 2021, with net income increasing to $31.6 million and net sales rising to $496.0 million, primarily driven by higher average TiO2 selling prices. The company's TiO2 segment profit also saw a significant increase compared to the same period in 2020.
Net income increased to $31.6 million, or $.28 per share, compared to $10.2 million, or $.09 per share, in Q4 2020.
Net sales rose to $496.0 million, a 20% increase from $414.9 million in Q4 2020.
Average TiO2 selling prices were 17% higher compared to Q4 2020.
TiO2 segment profit increased to $55.6 million from $23.4 million in Q4 2020.
Kronos
Kronos
Forward Guidance
The statements in this release relating to matters that are not historical facts are forward-looking statements that represent management's beliefs and assumptions based on currently available information. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot give any assurances that these expectations will prove to be correct.
Positive Outlook
- 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
Challenges Ahead
- Changes in raw material and other operating costs (such as energy and ore costs)
- Changes in the availability of raw materials (such as ore)
- General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy costs or reduce demand or perceived demand for our TiO2 products or impair our ability to operate our facilities (including changes in the level of gross domestic product in various regions of the world, natural disasters, terrorist acts, global conflicts and public health crises such as COVID-19)
- Competitive products and substitute products
- Customer and competitor strategies