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KRO

Kronos Worldwide, Inc.

KRO

Kronos Worldwide, Inc. • NYSE
$5.07 ▼ -0.59% (-0.03)
Market Cap $583.32 M
52w High $11.26
52w Low $4.08
Dividend Yield 0.20%
P/E -14.49
Volume 143.73K
Outstanding Shares 115.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $456.9M ▼ $66.2M ▲ $-37M ▼ -8.098% ▼ $-0.32 ▼ $600K ▼
Q2-2025 $494.4M ▲ $55.4M ▼ $-9.2M ▼ -1.861% ▼ $-0.08 ▼ $23.2M ▼
Q1-2025 $489.8M ▲ $68.4M ▲ $18.1M ▲ 3.695% ▲ $0.16 ▲ $52.2M ▲
Q4-2024 $423.1M ▼ $57.8M ▼ $-13.2M ▼ -3.12% ▼ $-0.11 ▼ $42.7M ▼
Q3-2024 $484.7M $62.3M $71.8M 14.813% $0.62 $128.4M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $27.7M ▲ $1.91B ▼ $1.105B ▲ $804.7M ▼
Q2-2025 $18.9M ▼ $1.94B ▼ $1.094B ▼ $846.8M ▼
Q1-2025 $20.5M ▼ $1.946B ▲ $1.099B ▲ $847M ▲
Q4-2024 $106.7M ▲ $1.913B ▼ $1.097B ▲ $817M ▼
Q3-2024 $94.8M $1.922B $1.074B $847.4M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-37M ▼ $-7.9M ▼ $-9.5M ▲ $26M ▲ $8.7M ▲ $-17.4M ▼
Q2-2025 $-9.2M ▼ $20.7M ▲ $-11.2M ▲ $-13.2M ▼ $-900K ▲ $20.7M ▲
Q1-2025 $18.1M ▲ $-102.4M ▼ $-12M ▲ $27.1M ▲ $-86.1M ▼ $-102.4M ▼
Q4-2024 $-13.2M ▼ $49.3M ▲ $-12.3M ▲ $-20.7M ▼ $11.8M ▲ $37M ▲
Q3-2024 $71.8M $28.3M $-165.9M $95.6M $-37.4M $19.2M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the past five years, with a noticeable soft patch in 2023 followed by a solid rebound in 2024. Profitability, however, has been much more volatile than sales. Margins were healthy in 2021 and 2022, collapsed in 2023 into an operating loss, and then recovered strongly in 2024 to some of the best levels in the period. This pattern is consistent with a cyclical, commodity-influenced business where pricing, energy costs, and utilization rates move around a lot. Overall, the income statement shows a company that can be quite profitable in good conditions but is clearly exposed to downturns in its markets and cost pressures.

Balance Sheet

Balance Sheet The balance sheet looks relatively stable over time, with total assets and equity moving within a fairly narrow band. Debt levels have been steady to slightly higher, suggesting moderate leverage rather than an aggressive debt profile. The main area of slippage is the cash position, which has trended down from earlier years, indicating a thinner liquidity cushion than before. In plain terms, the company appears reasonably capitalized, but it has less cash on hand now and remains dependent on the business continuing to generate cash and on credit markets staying accessible.

Cash Flow

Cash Flow Cash generation has been choppy. Operating cash flow was strong in 2021, fell sharply in 2022, was barely positive in 2023, and only modestly improved in 2024. Free cash flow followed the same pattern: solid in the upcycle, negative in the weakest year, and only modestly positive more recently. Capital spending has been fairly consistent and not overly aggressive, so the swings are mainly from operations rather than investment spikes. The cash flow profile underlines the cyclicality of the business and shows that in weaker years there is not much room for error when it comes to funding dividends, debt service, or growth projects.

Competitive Edge

Competitive Edge Kronos operates in a concentrated global titanium dioxide market and benefits from several structural strengths. Its proprietary chloride production technology is a clear advantage in efficiency and environmental impact, and not easy for new entrants to replicate. Vertical integration into mining improves control over key raw materials and reduces exposure to supply disruptions. A long operating history, global plant footprint, and relationships with thousands of customers across paints, plastics, paper, and other sectors give it scale and reputational benefits. On the other hand, the underlying product is still heavily influenced by commodity-like pricing and a cyclical demand backdrop, so even with these advantages the company cannot fully escape industry cycles or competitive pricing pressure.

Innovation and R&D

Innovation and R&D Innovation at Kronos is focused less on headline-grabbing breakthroughs and more on steady, customer-driven improvements. The company offers a wide range of specialized titanium dioxide grades tailored to specific end uses, including food, pharmaceuticals, cosmetics, coatings, and digital printing. It has been actively developing more environmentally friendly formulations and products that help customers meet stricter regulations and eco-label standards. Operationally, Kronos uses technology and partnerships to improve logistics and supply-chain efficiency. The overall picture is of a company using R&D to push into higher-value, specialty niches and to enhance process efficiency, which can support margins over time, even though spending and projects are not disclosed in great detail.

Summary

Kronos Worldwide shows the classic traits of a cyclical, specialty-chemicals producer: fairly stable sales volumes over time, but profits and cash flows that swing meaningfully with the cycle. The recent history highlights this—strong profitability in 2021–2022, a sharp setback in 2023, and a notable recovery in 2024. The balance sheet is steady and reasonably supported by equity, though the decline in cash reserves and reliance on ongoing cash generation are worth noting. Competitively, the firm seems well entrenched, with proprietary technology, vertical integration, and a strong global customer base that together create a real, if not unbreakable, moat. Its innovation strategy is pragmatic, centered on specialty grades, sustainability, and operational efficiency rather than radical reinvention. Future performance will likely continue to be driven by the titanium dioxide cycle, input costs, and how effectively the company can keep tilting its mix toward higher-margin specialty products while maintaining financial discipline through downturns.

NEWS

November 6, 2025 · 4:15 PM UTC

Kronos Worldwide, Inc. Reports Third Quarter 2025 Results

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October 29, 2025 · 4:15 PM UTC

KRONOS WORLDWIDE, INC. ANNOUNCES QUARTERLY DIVIDEND

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October 14, 2025 · 4:15 PM UTC

KRONOS WORLDWIDE, INC. ANNOUNCES EXPECTED THIRD QUARTER 2025 EARNINGS RELEASE DATE

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September 3, 2025 · 4:15 PM UTC

Kronos Worldwide, Inc. Prices Private Offering of an Additional €75 Million of 9.50% Senior Secured Notes Due 2029

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September 3, 2025 · 2:30 AM UTC

Kronos Worldwide, Inc. Announces Private Offering of an Additional €75 Million of 9.50% Senior Secured Notes Due 2029

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