Welcome to our dedicated page for Kronos Worldwide news (Ticker: KRO), a resource for investors and traders seeking the latest updates and insights on Kronos Worldwide stock.
Kronos Worldwide, Inc. (NYSE: KRO) is a globally recognized manufacturer and marketer of titanium dioxide pigments (TiO2), which are essential in imparting whiteness, brightness, opacity, and durability to a diverse range of products. The company operates in various regions including Europe, North America, the Asia Pacific, and internationally, ensuring a global reach.
TiO2 is produced in two primary crystalline forms, rutile and anatase, each offering unique properties that make them suitable for different applications. Kronos Worldwide’s TiO2 is widely used in products such as paints, coatings, plastics, paper, fibers, and ceramics. Additionally, TiO2 finds specialized uses in inks, food, and cosmetics, showcasing the versatility of the pigment.
Beyond TiO2, Kronos Worldwide is involved in producing ilmenite, which is a vital feedstock for sulfate-process TiO2 plants, and iron-based chemicals employed as treatment agents for industrial effluents and municipal wastewater. The company also manufactures titanium oxychloride and titanyl sulfate, which are used in the formulation of pearlescent pigments, electroceramic capacitors, natural gas pipes, and other specialized applications.
The company’s products play a pivotal role in various sectors, with significant portions of sales coming from coatings applied to automobiles, aircraft, machinery, appliances, and both commercial and residential structures. Additionally, TiO2 is crucial in plastics used for packaging materials, food packaging, housewares, appliances, toys, and computer cases. A substantial portion of the company's revenue is generated from the United States.
Recent achievements and ongoing projects reflect Kronos Worldwide’s commitment to innovation and sustainability in its operations, reinforcing its position as a leader in the TiO2 market. The company continuously invests in research and development to enhance product quality and expand its application spectrum.
For the latest updates, financial performance, and developments, investors can contact Bryan A. Hanley, the Senior Vice President & Treasurer, at (972) 233-1700.
Kronos Worldwide reported a net loss of $19.9 million, or $.18 per share, for Q4 2022, a decline from $31.6 million net income in Q4 2021. For 2022, net income was $104.5 million, down from $112.9 million in 2021. Contributing factors include lower sales volumes, higher production costs, and unfavorable currency exchange rates, which collectively decreased net sales by 31% in Q4 and maintained consistency at $1.9 billion for the full year. TiO2 sales volumes fell 40% in Q4 2022 compared to Q4 2021. Despite these challenges, average TiO2 selling prices rose 15% in Q4 and 21% for the full year. EBITDA for Q4 2022 was ($8.2 million), a significant drop from $62.6 million in Q4 2021.
Kronos Worldwide, Inc. (NYSE: KRO) has declared a regular quarterly dividend of $0.19 per share, set to be paid on March 16, 2023. Shareholders must be on record by the close of business on March 7, 2023 to receive the dividend. This announcement underscores Kronos' commitment to return value to its shareholders. As a major international producer of titanium dioxide products, the company continues to demonstrate its stability in the market.
Kronos Worldwide (NYSE: KRO) reported a third-quarter net income of $21.0 million ($0.18 per share) for 2022, down from $36.0 million ($0.31 per share) in 2021. Year-to-date, net income reached $124.4 million ($1.08 per share), an increase from $81.3 million ($0.70 per share) in 2021. Q3 net sales were $459.6 million, an 8% decline year-over-year, primarily due to reduced sales volumes. Despite lower sales volumes, average TiO2 selling prices increased by 21%. Currency fluctuations negatively impacted sales by approximately $31 million for the quarter and $83 million year-to-date.
Kronos Worldwide, Inc. (NYSE: KRO) has declared a quarterly dividend of $0.19 per share on its common stock. This dividend is scheduled for payment on December 15, 2022, to stockholders who are on record by the close of business on December 1, 2022.
The company is a key international producer of titanium dioxide products, which serve various industries. This dividend announcement reflects the company's ongoing commitment to returning value to its shareholders.
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