KRONOS WORLDWIDE, INC. REPORTS FIRST QUARTER 2024 RESULTS
Dallas, Texas, May 08, 2024 (GLOBE NEWSWIRE) -- Kronos Worldwide, Inc. (NYSE:KRO) today reported net income of $8.1 million, or $.07 per share, in the first quarter of 2024 compared to a net loss of $15.2 million, or $.13 per share, in the first quarter of 2023. Net income increased in the first quarter of 2024 as compared to the first quarter of 2023 primarily due to higher income from operations as a result of the net effect of higher sales and production volumes, lower average TiO2 selling prices and lower production costs (primarily energy and raw material costs). Comparability of our results was also impacted by the effects of changes in currency exchange rates.
Net sales of $478.8 million in the first quarter of 2024 were $52.5 million, or 12%, higher than in the first quarter of 2023. Net sales increased in the first quarter of 2024 compared to the first quarter of 2023 due to the net effects of higher sales volumes due to strengthening demand for TiO