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Kronos Worldwide Inc(KRO-N)
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Kronos Worldwide Reports Third Quarter 2021 Results

Globe Newswire - Thu Nov 4, 2021

Dallas, Texas, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE:KRO) today reported net income of $36.0 million, or $.31 per share, in the third quarter of 2021 compared to $8.1 million, or $.07 per share, in the third quarter of 2020. For the first nine months of 2021, Kronos Worldwide reported net income of $81.3 million, or $.70 per share, compared to $53.7 million, or $.46 per share in the first nine months of 2020.   Net income in the third quarter and the first nine months of 2021 was higher than in the comparable 2020 periods primarily due to higher income from operations resulting from the effects of higher sales volumes and higher average TiO2 selling prices, partially offset by higher production costs including raw material and energy costs, as discussed below.   Our results of operations for the first nine months of 2020 were significantly impacted by the COVID-19 pandemic related demand contraction in 2020 which 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, also discussed below.

Read more at globenewswire.com