Dallas, Texas, March 09, 2022 (GLOBE NEWSWIRE) -- FOR IMMEDIATE RELEASE

Kronos Worldwide, Inc. (NYSE:KRO) today reported net income of $31.6 million, or $.28 per share, in the fourth quarter of 2021 compared to $10.2 million, or $.09 per share, in the fourth quarter of 2020. For the full year of 2021, Kronos Worldwide reported net income of $112.9 million, or $.98 per share, compared to $63.9 million, or $.55 per share for the full year of 2020. We reported higher net income in the fourth quarter of 2021 as compared to the fourth quarter of 2020 primarily due to higher income from operations resulting from higher average TiO₂ selling prices, partially offset by higher production costs, including raw material and energy costs. Net income in the full year of 2021 was higher than in the full year of 2020 primarily due to higher income from operations resulting from the effects of higher average TiO₂ selling prices and higher sales volumes, partially offset by higher production costs including raw material and energy costs. Our results of operations in 2020 were significantly impacted by the COVID-19 pandemic related demand contraction in 2020 which primarily impacted the second and third quarters and was most acute in the second quarter of 2020. Comparability of our results was also impacted by the effects of changes in currency exchange rates, as discussed below.