Kronos Worldwide's Q4 Net Loss Widens to $82.8M, Missing Estimates
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Kronos Worldwide reported a Q4 net loss of $82.8 million, or -$0.72 per share, which widened significantly compared to the prior year. While revenue of $418.3 million beat analyst estimates, the actual loss per share was substantially worse than the projected loss of $0.24 per share reported in news on March 6th. The widening net loss was primarily driven by lower titanium dioxide prices and higher unabsorbed fixed production costs due to production curtailments. This significant earnings miss and the underlying operational challenges are highly material and likely to negatively impact investor sentiment. Traders will be watching for any future guidance on pricing and production, which was not provided in this report, and how the recent CEO change might influence strategy.
At the time of this announcement, KRO was trading at $5.12 on NYSE in the Manufacturing sector, with a market capitalization of approximately $623.6M. The 52-week trading range was $4.08 to $8.04. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.