$KRO
KRONOS WORLDWIDE INC

2024 Q2 Form 10-Q Financial Statement

#000155837024007346 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $500.5M $478.8M
YoY Change 12.93% 12.32%
Cost Of Revenue $400.3M $407.3M
YoY Change 0.3% 2.98%
Gross Profit $100.2M $71.50M
YoY Change 127.21% 132.14%
Gross Profit Margin 20.02% 14.93%
Selling, General & Admin $57.90M $54.20M
YoY Change 15.57% 1.88%
% of Gross Profit 57.78% 75.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.40M $10.90M
YoY Change 58.62% -15.5%
% of Gross Profit 18.36% 15.24%
Operating Expenses $57.90M $54.20M
YoY Change 6.43% 1.88%
Operating Profit $35.90M $19.50M
YoY Change -448.54% -206.56%
Interest Expense $9.800M $9.200M
YoY Change -3366.67% 119.05%
% of Operating Profit 27.3% 47.18%
Other Income/Expense, Net -$300.0K -$300.0K
YoY Change -86.36% -66.67%
Pretax Income $28.00M $11.60M
YoY Change -327.64% -152.49%
Income Tax $8.500M $3.500M
% Of Pretax Income 30.36% 30.17%
Net Earnings $19.50M $8.100M
YoY Change -337.8% -153.29%
Net Earnings / Revenue 3.9% 1.69%
Basic Earnings Per Share $0.17 $0.07
Diluted Earnings Per Share $0.17 $0.07
COMMON SHARES
Basic Shares Outstanding 115.0M 115.0M
Diluted Shares Outstanding 115.0M 115.0M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.8M $120.7M
YoY Change -21.02% -32.11%
Cash & Equivalents $133.8M $120.7M
Short-Term Investments
Other Short-Term Assets $35.60M $39.50M
YoY Change -5.32% -7.28%
Inventory $447.2M $475.8M
Prepaid Expenses
Receivables $352.2M $326.8M
Other Receivables $18.40M $21.90M
Total Short-Term Assets $987.2M $984.7M
YoY Change -6.49% -13.25%
LONG-TERM ASSETS
Property, Plant & Equipment $444.3M $461.6M
YoY Change -13.04% -5.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $103.8M $111.2M
YoY Change -15.68% -4.22%
Other Assets $14.80M $13.30M
YoY Change -83.39% -0.75%
Total Long-Term Assets $669.7M $694.7M
YoY Change -7.38% -0.24%
TOTAL ASSETS
Total Short-Term Assets $987.2M $984.7M
Total Long-Term Assets $669.7M $694.7M
Total Assets $1.657B $1.679B
YoY Change -6.85% -8.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $129.9M $143.9M
YoY Change -15.48% -0.48%
Accrued Expenses $60.20M $37.50M
YoY Change 47.91% 7.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $273.1M $267.9M
YoY Change 4.8% 3.16%
LONG-TERM LIABILITIES
Long-Term Debt $423.7M $426.9M
YoY Change -2.01% -1.52%
Other Long-Term Liabilities $21.40M $21.40M
YoY Change -88.33% 2.88%
Total Long-Term Liabilities $609.2M $637.1M
YoY Change -1.07% -3.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $273.1M $267.9M
Total Long-Term Liabilities $609.2M $637.1M
Total Liabilities $882.3M $905.0M
YoY Change -2.22% -1.57%
SHAREHOLDERS EQUITY
Retained Earnings -$258.1M -$255.8M
YoY Change 49.54% 79.51%
Common Stock $1.392B $1.391B
YoY Change 0.01% -0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $774.6M $774.4M
YoY Change
Total Liabilities & Shareholders Equity $1.657B $1.679B
YoY Change -6.85% -8.3%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $19.50M $8.100M
YoY Change -337.8% -153.29%
Depreciation, Depletion And Amortization $18.40M $10.90M
YoY Change 58.62% -15.5%
Cash From Operating Activities $38.20M -$43.30M
YoY Change 15.06% -60.56%
INVESTING ACTIVITIES
Capital Expenditures $3.400M $4.700M
YoY Change -80.57% -71.34%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.400M -$4.700M
YoY Change -80.57% -71.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $52.60M
YoY Change 26200.0%
Cash From Financing Activities -22.70M -25.70M
YoY Change -3.81% 9.36%
NET CHANGE
Cash From Operating Activities 38.20M -43.30M
Cash From Investing Activities -3.400M -4.700M
Cash From Financing Activities -22.70M -25.70M
Net Change In Cash 12.10M -69.00M
YoY Change -253.16% -48.24%
FREE CASH FLOW
Cash From Operating Activities $38.20M -$43.30M
Capital Expenditures $3.400M $4.700M
Free Cash Flow $34.80M -$48.00M
YoY Change 121.66% -61.97%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Organization</i> - At March 31, 2024, Valhi, Inc. (NYSE: VHI) held approximately 50% of our outstanding common stock and a wholly-owned subsidiary of NL Industries, Inc. (NYSE: NL) held approximately 31% of our common stock. Valhi owned approximately 83% of NL’s outstanding common stock and a wholly-owned subsidiary of Contran Corporation held approximately 91% of Valhi’s outstanding common stock. A majority of Contran’s outstanding voting stock is held directly by Lisa K. Simmons, <span style="background:#ffffff;">Thomas C. Connelly (the husband of Ms. Simmons’ late sister),</span> and various family trusts established for the benefit of Ms. Simmons, Mr. Connelly and their children and for which Ms. Simmons, Mr. Connelly, or Mr. Connelly’s sister, as applicable, serve as trustee (collectively, the “Other Trusts”). With respect to the Other Trusts for which Mr. Connelly or his sister serves as trustee, the trustee is required to vote the shares of Contran voting stock held in such trusts in the same manner as Ms. Simmons. Such voting rights of Ms. Simmons last through April 22, 2030 and are personal to Ms. Simmons. The remainder of Contran’s outstanding voting stock is held by another trust (the “Family Trust”), which was established for the benefit of Ms. Simmons and her late sister and their children and for which a third-party financial institution serves as trustee. Consequently, at March 31, 2024, Ms. Simmons and the Family Trust may be deemed to control Contran, and therefore may be deemed to indirectly control the wholly-owned subsidiary of Contran, Valhi, NL and us.</p>
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