Kronos Worldwide, Inc. Reports Third Quarter 2025 Results

Dallas, Texas, Nov. 06, 2025 (GLOBE NEWSWIRE) -- November 6, 2025…Kronos Worldwide, Inc. (NYSE:KRO) today reported a net loss of $37.0 million, or $.32 per share, in the third quarter of 2025 compared to net income of $71.8 million, or $.62 per share, in the third quarter of 2024. For the first nine months of 2025, Kronos Worldwide reported a net loss of $28.1 million, or $.24 per share, compared to net income of $99.4 million, or $.86 per share, in the first nine months of 2024. Net loss increased in the third quarter and first nine months of 2025 due to legislation enacted in Germany during the third quarter of 2025, which included a reduction of the corporate tax rate from 15% by one percentage point annually for five years, reaching 10% in 2032. As a result, we recorded a non-cash deferred income tax expense of $19.3 million ($.17 per share) to reflect the impact of the rate reduction on our net German deferred tax asset. Our net loss for the three and nine months ended September 30, 2025 also includes a non-cash gain of $4.6 million ($3.6 million, or $.03 per share, net of income tax expense) resulting from a remeasurement of the earn-out liability initially recorded in connection with our acquisition of our joint venture, as discussed below. Net income for the three and nine months ended September 30, 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 our joint venture, as discussed below. Income from operations decreased in the third quarter of 2025 as compared to the third quarter of 2024 primarily due to lower production volumes resulting in lower absorption of our fixed production costs and lower average TiO₂ selling prices. Income from operations for the first nine months of 2025 was lower than income from operations for the first nine months of 2024 primarily due to lower production volumes resulting in lower absorption of our fixed production costs, lower average TiO₂ selling prices and higher distribution and warehousing costs incurred primarily in the first quarter of 2025 to position finished goods products inventory in the U.S. in response to anticipated U.S federal government tariff announcements and an overall increase in finished goods inventory in 2025 compared to 2024. Comparability of our results was also impacted by the effects of changes in currency exchange rates. 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.