0001104659-26-025219
SEC filingKronos Worldwide, Inc. reported a challenging fiscal year 2025 with net sales of $1.86 billion and a net loss of $110.9 million. The company generated a gross margin of $213.0 million, representing an 11.4% gross margin, but this was insufficient to cover selling, general and administrative expenses of $245.2 million, resulting in an operating loss of $36.5 million. Significant non-operating items included a $64.5 million gain from remeasuring the TiO2 manufacturing joint venture investment and a $4.6 million gain from remeasuring an earn-out liability, partially offset by $53.0 million in interest expense. The company maintained positive operating cash flow of $2.5 million despite the net loss, supported by $60.5 million in depreciation. Total assets stood at $1.82 billion with stockholders' equity of $751.1 million, though the retained deficit expanded to -$344.9 million. The company paid $23.0 million in dividends and invested $42.9 million in capital expenditures while managing a debt position that included $557.4 million in long-term debt and $78.3 million in current maturities.
Kronos Worldwide, Inc. reported a net loss of $110.9 million for fiscal year 2025 on net sales of $1.86 billion. The company's cost of sales was $1.65 billion, resulting in a gross margin of $213.0 million. Operating performance showed a loss from operations of $36.5 million, primarily due to selling, general and administrative expenses of $245.2 million exceeding the gross margin. The income statement included significant non-operating items: a $64.5 million gain on remeasurement of investment in TiO2 manufacturing joint venture, a $4.6 million gain on remeasurement of earn-out liability, and $53.0 million in interest expense. The company reported a loss before income taxes of $97.4 million and recorded income tax expense of $13.5 million. Basic and diluted net loss per share were both -$1.00, calculated using 115.0 million weighted average shares.
The company reported net sales of $1.86 billion for fiscal year 2025. No segment breakdown, geographic mix, or specific growth drivers were provided in the available data. The document content and XBRL data focus on consolidated financial statements without segment-level disclosure. Revenue analysis is therefore limited to the consolidated net sales figure of $1.86 billion.
The company achieved a gross margin of $213.0 million on $1.86 billion in sales, representing a gross margin percentage of approximately 11.4%. Operating margin was negative at approximately -2.0%, calculated from the operating loss of $36.5 million divided by net sales of $1.86 billion. The primary driver of the operating loss was selling, general and administrative expenses of $245.2 million, which exceeded the gross margin by $32.2 million. Other operating items included currency transaction gains of $5.4 million, other income of $3.7 million, and corporate expense of $13.4 million.
The company generated $2.5 million in net cash from operating activities despite the net loss of $110.9 million, supported by $60.5 million in depreciation and $4.3 million in amortization of operating lease assets. Investing activities used $42.9 million, primarily for capital expenditures. Financing activities used $36.3 million, including $23.0 million in dividends paid and $2.9 million in treasury stock acquisitions. The balance sheet shows total assets of $1.82 billion, including $994.5 million in current assets (with $628.6 million in inventories) and $724.3 million in net property and equipment. Total liabilities were $1.07 billion, including $557.4 million in long-term debt and $78.3 million in current maturities. Stockholders' equity was $751.1 million, comprising $1.39 billion in additional paid-in capital, offset by a $344.9 million retained deficit and $295.6 million in accumulated other comprehensive loss.
No management guidance, strategic priorities, or specific risk factors were provided in the available document content or XBRL data. The filing includes standard financial statements without forward-looking statements or outlook commentary in the provided sections. Investors should refer to the complete 10-K filing for any discussion of future plans, risks, or management's expectations beyond the historical financial data presented here.