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 (KRO) is a leading producer of titanium dioxide pigments essential for industrial coatings, plastics, and specialty applications. This page serves as the definitive source for official company announcements and market-relevant updates.
Investors and industry professionals will find curated press releases detailing financial results, production innovations, and strategic initiatives. Our repository includes updates on rutile/anatase pigment developments, environmental compliance measures, and global market expansions.
Key content categories cover quarterly earnings reports, manufacturing process enhancements, and industry partnership announcements. Stay informed about KRO's role in advancing coating technologies and specialty chemical solutions.
Bookmark this page for direct access to primary source materials about titanium dioxide market dynamics and Kronos Worldwide's operational milestones. Regular updates ensure you maintain current awareness of this chemical sector innovator.
Kronos Worldwide, Inc. (NYSE: KRO) has announced three significant developments:
1. Acquisition: Kronos has acquired the remaining 50% joint venture interest in Louisiana Pigment Company, L.P. (LPC) for $185 million upfront, with a potential $15 million earn-out. This makes LPC a wholly-owned subsidiary of Kronos.
2. Credit Facility Amendment: Kronos has amended its global revolving credit facility with Wells Fargo, increasing the maximum borrowing amount from $225 million to $300 million and extending the maturity date to 2029.
3. Dividend Reduction: The company has declared a quarterly dividend of $0.05 per share, a decrease of $0.14 compared to the previous quarter, to focus on maintaining a strong balance sheet and evaluating strategic investment opportunities.
Kronos Worldwide (NYSE: KRO) announced on May 15, 2024, that its board of directors has declared a regular quarterly dividend of $0.19 per share on its common stock. The dividend is payable on June 20, 2024, to stockholders of record at the close of business on June 10, 2024.
At the 2024 annual stockholder meeting, the stockholders elected directors including James M. Buch, Loretta J. Feehan, John E. Harper, Kevin B. Kramer, Meredith W. Mendes, Cecil H. Moore, Jr., Michael S. Simmons, and R. Gerald Turner for a one-year term. Additionally, a resolution approving the compensation of named executive officers on a nonbinding advisory basis was adopted.
Kronos Worldwide is a significant producer of titanium dioxide products.
Kronos Worldwide, Inc. reported a net income of $8.1 million, or $.07 per share, in the first quarter of 2024, a significant improvement from a net loss of $15.2 million, or $.13 per share, in the first quarter of 2023. This positive result was driven by higher sales and production volumes, lower TiO2 selling prices, and decreased production costs. Net sales of $478.8 million in Q1 2024 were 12% higher than in Q1 2023, primarily due to stronger demand for TiO2 in major markets and increased sales volumes. TiO2 segment profit also saw a notable increase to $23.4 million in Q1 2024 from a loss of $14.8 million in Q1 2023. Overall, the company showed significant financial improvement in the first quarter of 2024 compared to the same period in 2023.
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