Kronos Worldwide Inc is a leading manufacturer and supplier of titanium dioxide pigments, which are essential components used to enhance the brightness and opacity of various products, including paints, coatings, plastics, and paper
The company specializes in leveraging advanced technology and sustainable practices to produce high-quality titanium dioxide, catering to a diverse range of industries. With a commitment to innovation and environmental stewardship, Kronos Worldwide strives to deliver superior products while maintaining a strong presence in the global market.
Dallas, Texas, March 06, 2025 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE:KRO) today reported a net loss of $13.2 million, or $.12 per share, in the fourth quarter of 2024 compared to a net loss of $5.3 million, or $.05 per share, in the fourth quarter of 2023. For the full year of 2024, Kronos Worldwide reported net income of $86.2 million, or $.75 per share, compared to a net loss of $49.1 million, or $.43 per share, for the full year of 2023. Net income decreased in the fourth quarter 2024 compared to the fourth quarter of 2023 primarily due to increases in the Company’s income tax expense resulting from (i) final tax regulations on the treatment of certain currency translation gains and losses, which resulted in a non-cash deferred income tax expense of $16.5 million ($.14 per share) and (ii) the recognition of a deferred income tax asset valuation allowance related to the Company’s Belgian net deferred tax assets, which resulted in a non-cash deferred income tax expense of $8.2 million ($.07 per share). Income before income taxes increased $24.9 million in the fourth quarter of 2024 as compared to the fourth quarter of 2023 due to higher income from operations as a result of the effects of higher sales and production volumes and lower production costs (primarily energy and raw materials). Net income increased in the full year of 2024 compared to full year of 2023 due to higher income from operations as a result of the effects of higher sales and production volumes and lower production costs (primarily energy and raw materials), partially offset by lower average TiO2 selling prices. Comparability of our results was also impacted by the effects of changes in currency exchange rates. Our results of operations for the full year of 2023 were significantly impacted by reduced demand for TiO2 in all major markets and unabsorbed fixed production as a result of production curtailments in response to the sharp decline in demand. Demand improved in all of our major markets in 2024 compared to 2023 and we increased production volumes accordingly, contributing to our improved profitability. As previously reported, effective July 16, 2024, we acquired the 50% joint venture interest in Louisiana Pigment Company, L.P. (“LPC”) previously held by Venator Investments, Ltd. Prior to the acquisition, we held a 50% joint venture interest in LPC. Following the acquisition, LPC became a wholly-owned subsidiary of ours. We accounted for the acquisition as a business combination. The results of operations of LPC have been included in our results of operations beginning as of the acquisition date. Net income for the full year 2024 includes the recognition of a non-cash gain of $64.5 million ($50.9 million, or $.44 per share, net of income tax expense) associated with the remeasurement of our investment in LPC as a result of the acquisition.
Dallas, TX, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE: KRO) announced that its board of directors has declared a regular quarterly dividend of five cents ($0.05) per share on its common stock, payable on March 20, 2025 to stockholders of record at the close of business on March 11, 2025.
Dallas, Texas, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE:KRO) today reported net income of $71.8 million, or $.62 per share, in the third quarter of 2024 compared to a net loss of $20.4 million, or $.18 per share, in the third quarter of 2023. For the first nine months of 2024, Kronos Worldwide reported net income of $99.4 million, or $.86 per share, compared to a net loss of $43.8 million, or $.38 per share, in the first nine months of 2023. Net income increased in the third quarter and first nine months of 2024 compared to the same periods in 2023 due to higher income from operations as a result of the effects of higher sales and production volumes, lower production costs (primarily energy and raw materials), partially offset by lower average TiO2 selling prices. Comparability of our results was also impacted by the effects of changes in currency exchange rates. Our results of operations in the first nine months of 2023 were significantly impacted by reduced demand for certain of our products in all major markets and unabsorbed fixed production and other costs due to reduced production volumes. Demand has improved in all of our major markets in the first nine months of 2024 and production volumes have increased, contributing to our improved profitability. As previously reported, effective July 16, 2024, we acquired the 50% joint venture interest in Louisiana Pigment Company, L.P. (“LPC”) previously held by Venator Investments, Ltd. Prior to the acquisition, we held a 50% joint venture interest in LPC. Following the acquisition, LPC became a wholly-owned subsidiary of ours. We accounted for the acquisition as a business combination. The results of operations of LPC have been included in our results of operations beginning as of the acquisition date. Net income for the third quarter and first nine months of 2024 includes the recognition of a non-cash gain of $64.5 million ($51.0 million, or $.44 per share, net of income tax expense) associated with the remeasurement of our investment in LPC as a result of the acquisition.
Dallas, Texas, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE: KRO) announced that its board of directors has declared a regular quarterly dividend of five cents ($0.05) per share on its common stock, payable on December 12, 2024 to stockholders of record at the close of business on November 29, 2024.
Dallas, TX, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE:KRO) today reported net income of $19.5 million, or $.17 per share, in the second quarter of 2024 compared to a net loss of $8.2 million, or $.07 per share, in the second quarter of 2023. For the first six months of 2024, Kronos Worldwide reported net income of $27.6 million, or $.24 per share, compared to a net loss of $23.4 million, or $.20 per share, in the first six months of 2023. Net income increased in the 2024 periods as compared to the same periods in 2023 primarily due to higher income from operations as a result of the effects of higher sales and production volumes, lower production costs (primarily energy and raw materials), partially offset by lower average TiO2 selling prices. Our results of operations in the first six months of 2023 were significantly impacted by reduced demand for certain of our products occurring in all major markets and unabsorbed fixed production and other costs due to reduced production volumes. Demand has improved in all of our major markets in the first and second quarters of 2024 and production volumes have increased, contributing to our improved profitability. Comparability of our results was also impacted by the effects of changes in currency exchange rates.
Dallas, Texas, July 23, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE: KRO) (the “Company”) announced today that its wholly-owned subsidiary, Kronos International, Inc. (“KII”), has agreed to sell €75 million aggregate principal amount of additional 9.50% Senior Secured Notes due 2029 (the “Notes”) through an institutional private placement. The Notes will be issued as additional notes to the existing €276,174,000 aggregate principal amount of 9.50% Senior Secured Notes due 2029 that KII issued on February 12, 2024 (the “Existing Notes”). Other than with respect to the date of issuance and issue price, the Notes will have the same terms as the Existing Notes. The Notes will be maintained under the same ISIN and Common Code numbers as the Existing Notes, except that the Notes issued pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), will trade separately under different ISIN and Common Code numbers until 40 days after the issue date of the Notes, but thereafter, the Notes issued pursuant to Regulation S will be maintained under the same ISIN and Common Code numbers as the Existing Notes issued pursuant to Regulation S.
Dallas, Texas, July 23, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE: KRO) (the “Company”) announced today that it is seeking to raise debt capital through a private offering of €75 million aggregate principal amount of additional 9.50% Senior Secured Notes due 2029 (the “Notes”) by its wholly-owned subsidiary, Kronos International, Inc. (“KII”). The Notes are being offered as additional notes to the existing €276,174,000 aggregate principal amount of 9.50% Senior Secured Notes due 2029 that KII issued on February 12, 2024 (the “Existing Notes”). Other than with respect to the date of issuance and issue price, the Notes will have the same terms as the Existing Notes. The Notes will be maintained under the same ISIN and Common Code numbers as the Existing Notes, except that the Notes issued pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), will trade separately under different ISIN and Common Code numbers until 40 days after the issue date of the Notes, but thereafter, the Notes issued pursuant to Regulation S will be maintained under the same ISIN and Common Code numbers as the Existing Notes issued pursuant to Regulation S.
DALLAS, TEXAS, May 15, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE: KRO) announced that its board of directors has declared a regular quarterly dividend of nineteen cents ($0.19) per share on its common stock, payable on June 20, 2024 to stockholders of record at the close of business on June 10, 2024.
Dallas, Texas, May 08, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE:KRO) today reported net income of $8.1 million, or $.07 per share, in the first quarter of 2024 compared to a net loss of $15.2 million, or $.13 per share, in the first quarter of 2023. Net income increased in the first quarter of 2024 as compared to the first quarter of 2023 primarily due to higher income from operations as a result of the net effect of higher sales and production volumes, lower average TiO2 selling prices and lower production costs (primarily energy and raw material costs). Comparability of our results was also impacted by the effects of changes in currency exchange rates.
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During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
Chemicals industry, globally, sure is a huge one with total annual revenue of close to $4.0 trillion. Within in that sea of investment opportunities, the following three U.S. based stocks are particularly worth owning in 2024.
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
On March 14, 2024, Kronos Worldwide (NYSE:KRO) will distribute a dividend payout of $0.19 per share, equating to an annualized dividend yield of 8.95%. Shareholders who owned the stock before the ex-dividend date on March 04, 2024 will receive this payout.
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