Kronos Q4 2022 Earnings Report
Key Takeaways
Kronos Worldwide, Inc. reported a net loss of $19.9 million, or $.18 per share, in Q4 2022, compared to a net income of $31.6 million, or $.28 per share, in Q4 2021. Net sales were $342.4 million, a decrease of 31% compared to Q4 2021. The TiO2 segment experienced a loss of $15.0 million, compared to a profit of $55.6 million in the same quarter of the previous year.
Net loss of $19.9 million, or $.18 per share, compared to net income of $31.6 million, or $.28 per share in Q4 2021.
Net sales decreased by 31% to $342.4 million compared to $496.0 million in Q4 2021.
TiO2 sales volumes were 40% lower compared to Q4 2021.
Average TiO2 selling prices were 15% higher compared to Q4 2021.
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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. Actual future results could differ materially from those described in such forward-looking statements.