Kronos Worldwide, Inc.
- Open
- 6.28
- Day high
- 6.28
- Day low
- 6.13
- Prev close
- 6.33
- Volume
- 82K
- Mkt cap
- $728M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 1.0
- P/S
- 0.4
- Yield
- 3.16%
- Per share
- $0.20
- ▲Insiders net buying $99K over the last 3 months (4 open-market buys, 0 sales)
- 🏛Institutions mixed (13F)
Kronos Worldwide, Inc. (KRO) is a Basic Materials company listed on NYSE. The stock is up 2% over the past year. Over the trailing 3 months, insiders filed 4 open-market buys and 0 sales (SEC Form 4).
Kronos Worldwide, Inc. (KRO) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KRO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.33 | $-0.04 | +87.9% | $510M | -2.7% |
| Mar 9, 2026 | $-0.24 | $-0.72 | -193.9% | $418M | -14.0% |
| Nov 6, 2025 | $-0.06 | $-0.18 | -200.0% | $457M | +22.4% |
| Mar 6, 2025 | $0.19 | $-0.12 | -163.2% | $423M | -14.4% |
| Mar 6, 2024 | $-0.07 | $-0.05 | +28.6% | $400M | +5.6% |
| Nov 2, 2023 | $-0.06 | $-0.18 | -184.2% | $397M | +4.7% |
| Aug 2, 2023 | $0.10 | $-0.07 | -170.0% | $443M | -7.7% |
| May 3, 2023 | $0.26 | $-0.13 | -150.0% | $426M | +11.2% |
| Mar 8, 2023 | $-0.07 | $-0.18 | -157.1% | $342M | +24.1% |
| Nov 2, 2022 | $0.11 | $0.18 | +63.6% | $460M | -5.2% |
| Aug 3, 2022 | $0.48 | $0.40 | -16.7% | $565M | +4.4% |
| May 4, 2022 | $0.27 | $0.50 | +85.2% | $563M | +11.7% |
KRO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 18, 2026 | Kramer Kevin Bdirector | Buy | 3,731 | $6.70 |
| May 18, 2026 | Kramer Kevin Bdirector | Buy | 3,735 | $6.75 |
| May 18, 2026 | Kramer Kevin Bdirector | Buy | 335 | $6.76 |
| May 18, 2026 | Kramer Kevin Bdirector | Buy | 6,800 | $6.77 |
| May 14, 2026 | Mendes Meredith W.director | Grant | 5,550 | $7.22 |
| May 14, 2026 | CHRISTIAN BRIAN W.director, officer: President and CEO | Grant | 5,550 | $7.22 |
| May 14, 2026 | MOORE CECIL H JRdirector | Grant | 5,550 | $7.22 |
| May 14, 2026 | Feehan Loretta J.director | Grant | 5,550 | $7.22 |
| May 14, 2026 | Harper John Edirector | Grant | 5,550 | $7.22 |
| May 14, 2026 | TURNER R GERALD DRdirector | Grant | 5,550 | $7.22 |
| May 14, 2026 | Kramer Kevin Bdirector | Grant | 5,550 | $7.22 |
| May 14, 2026 | Simmons Michael Shawndirector, officer: Vice Chairman of the Board | Grant | 5,550 | $7.22 |
| Aug 18, 2025 | McCoy Kristin Bofficer: Executive VP, Global Tax | Buy | 2,000 | $6.05 |
| Aug 14, 2025 | NACE ANDREW Bofficer: Executive Vice President | Buy | 1,000 | $5.77 |
| Aug 14, 2025 | NACE ANDREW Bofficer: Executive Vice President | Buy | 500 | $5.98 |
Source: KRO SEC Form 4 filings, latest May 18, 2026. For informational purposes only — not investment advice.
See the full KRO insider & 13F page →Kronos Worldwide, Inc. company profile
Overview
Kronos Worldwide, Inc. (NYSE:KRO) is a specialty chemicals manufacturer founded in 1916 and headquartered in Dallas, Texas. The company operates as a subsidiary of Valhi, Inc. and has been publicly traded since its initial public offering in December 2003. Kronos is one of the world's leading producers of titanium dioxide pigments, serving customers across Europe, North America, the Asia Pacific region, and other international markets through its global manufacturing and distribution network.
Business
Kronos Worldwide operates in the specialty chemicals industry, with its primary focus on manufacturing and marketing titanium dioxide pigments (TiO2). Titanium dioxide is a white, powdery substance that serves as one of the most important industrial pigments in the world. The compound provides exceptional whiteness, brightness, opacity, and durability when added to various products, making it an essential ingredient across multiple industries. The company produces TiO2 in two distinct crystalline forms: rutile and anatase. These different crystal structures offer varying properties that make them suitable for different applications. The pigments are primarily used in paints and coatings (which typically represent the largest market segment), plastics, paper, synthetic fibers, and ceramics. Additionally, TiO2 finds applications in specialty products including printing inks, food products as a whitening agent, and cosmetics for coverage and sun protection properties. Beyond its core TiO2 business, Kronos also produces several complementary products. The company manufactures ilmenite, which is a titanium-iron oxide mineral that serves as a raw material feedstock for sulfate-process TiO2 plants. It also produces iron-based chemicals used for treating industrial effluents and municipal wastewater, as well as in manufacturing iron pigments, cement, and agricultural products. The company's specialty chemicals division creates materials for pearlescent pigments and electroceramic capacitors used in electronic devices like cell phones. Kronos markets its products under the KRONOS brand and distributes them through a network of agents and distributors to manufacturers in the paint, plastics, decorative laminate, and paper industries. The company also provides technical services to support its product offerings, helping customers optimize their use of Kronos materials in their manufacturing processes.
Revenue model
Kronos Worldwide generates revenue primarily through product sales of its titanium dioxide pigments and related chemical products. The company operates on a traditional manufacturing business model, where it produces TiO2 and specialty chemicals at its production facilities and sells these products to industrial customers who incorporate them into their own manufacturing processes. The company's customers are primarily business-to-business (B2B) clients, including paint and coatings manufacturers, plastics producers, paper companies, and other industrial manufacturers. These customers purchase TiO2 as a key raw material input for their own products. Revenue is generated through direct sales contracts and distribution partnerships, with pricing typically negotiated based on market conditions, volume commitments, and long-term relationships. Several factors significantly impact Kronos's profitability and margins. Raw material costs represent a major expense, particularly the cost of titanium-bearing feedstocks like ilmenite and titanium slag, as well as energy costs for the energy-intensive production process. Market demand cycles heavily influence pricing power, as TiO2 markets can experience periods of oversupply or tight supply conditions that dramatically affect selling prices. Global economic conditions impact demand from end-use industries like construction and automotive, which drive paint and coatings consumption. Currency fluctuations also affect the company's margins since it operates internationally and competes with global producers. Environmental regulations can increase production costs, as TiO2 manufacturing involves chemical processes that must comply with increasingly stringent environmental standards. Competition from Chinese producers has been a persistent challenge, as lower-cost production in China can pressure global pricing. Conversely, factors that can improve margins include capacity utilization improvements, operational efficiency gains, favorable product mix shifts toward higher-value specialty grades, and market consolidation that reduces competitive pressure.
Competitive moat
Kronos Worldwide operates in a commodity-like chemical industry where competitive moats are generally limited, though the company does possess some defensive characteristics. The capital-intensive nature of TiO2 production creates modest barriers to entry, as building new production facilities requires substantial upfront investment and technical expertise. The company's established customer relationships and technical service capabilities provide some switching costs, as customers often prefer to work with proven suppliers who can provide consistent quality and technical support. However, Kronos's competitive position faces significant challenges. The TiO2 industry has experienced substantial capacity additions, particularly from Chinese producers who can manufacture at lower costs due to different environmental standards, labor costs, and government support. This has created persistent oversupply conditions that pressure pricing and margins across the industry. The company's geographic diversification and production presence in multiple regions provides some resilience against localized market disruptions, but this advantage is limited by the global nature of TiO2 markets. Product differentiation opportunities exist in specialty grades and technical service, but the core TiO2 product remains largely commoditized. The primary competitive threats come from low-cost Chinese producers who have significantly expanded global market share, potential substitutes in certain applications, and cyclical demand patterns that can lead to extended periods of weak pricing. The industry's consolidation among Western producers has provided some pricing discipline, but Chinese capacity additions continue to challenge this dynamic. Overall, Kronos operates in a structurally challenging industry with limited sustainable competitive advantages.
Risks & safety
Kronos Worldwide presents a moderate margin of safety profile with mixed financial health indicators. • Liquidity position: Current ratio of 2.32 and cash position of $106.7 million as of Q4 2024 provide reasonable short-term liquidity, though free cash flow turned negative at -$102.4 million in Q1 2025 • Debt levels: Debt-to-equity ratio of 0.68 indicates moderate leverage but not excessive; total liabilities of $1.1 billion against $1.9 billion in assets • Solvency risk: Generally manageable given asset base, but cyclical cash flow volatility creates periodic stress • Valuation metrics: Trading at P/E of 11.9x and EV/EBITDA of 9.3x based on recent quarters, suggesting reasonable valuation levels • Profitability volatility: Significant earnings swings from $104.5 million profit in 2022 to -$49.1 million loss in 2023, then back to $86.2 million profit in 2024, reflecting industry cyclicality • Other considerations: Subsidiary status under Valhi Inc. provides some financial backing but limits strategic flexibility
Recent development
Based on the financial data trends over recent years, Kronos has navigated significant industry volatility while maintaining operational resilience. The company experienced a challenging 2023 with negative earnings of $49.1 million and minimal EBITDA, reflecting broader industry oversupply conditions and weak demand. However, 2024 marked a recovery with the company returning to profitability, generating $86.2 million in net income and $256.9 million in EBITDA on revenues of $1.89 billion. The company has focused on operational efficiency improvements and cost management during difficult market conditions. Cash generation has been variable, with the company producing positive free cash flow of $43 million for full year 2024, though Q1 2025 showed negative free cash flow of $102.4 million, likely reflecting working capital timing and seasonal factors. Capital allocation has been conservative, with the company maintaining adequate liquidity while managing through industry cycles. The business has demonstrated its ability to scale operations up and down based on market conditions, as evidenced by the significant EBITDA recovery from negative $2.7 million in 2023 to $256.9 million in 2024. Revenue performance has shown resilience, with 2024 revenues of $1.89 billion recovering from the 2023 level of $1.67 billion, though still below the peak 2022 level of $1.93 billion. This pattern reflects the cyclical nature of the TiO2 industry and global economic conditions affecting end-market demand.
KRO company profile · for informational purposes only — not investment advice.
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