Core Viewpoint - Valhi, Inc. is set to announce its second quarter 2025 earnings on August 7, 2025, after market close, pending the completion of quarter-end closing procedures [1] Company Overview - Valhi, Inc. operates in multiple industries, including chemicals (specifically TiO2), component products (such as security products and recreational marine components), and real estate management and development [1] Investor Relations - The contact for investor relations is Bryan A. Hanley, who serves as the Senior Vice President and Treasurer, and can be reached at 972-233-1700 [1]

Core Viewpoint - VitalHub Corp. has acquired Novari Health Inc., a Canadian healthcare software provider, for a total consideration of $43.6 million, enhancing its position in the patient flow solutions market [1][2]. Transaction Details - The acquisition cost includes an upfront payment of $35.8 million in cash and 733,726 common shares of VitalHub, with a potential performance-based earnout of up to $5.0 million over two years [2]. Overview of Novari - Novari, based in Kingston, Ontario, has over 20 years of experience in healthcare software, focusing on patient access through integrated solutions for referral management, surgical wait list management, and care coordination [3][9]. - As of June 30, 2025, Novari reported an Annual Recurring Revenue of approximately $12.0 million and was nearing Adjusted EBITDA breakeven prior to the acquisition [4]. Strategic Opportunity - The referral management market is a significant investment area for governments due to rising wait times and administrative challenges, positioning the acquisition as a strategic move for VitalHub [5]. - The combination of Novari's solutions with VitalHub's existing platforms is expected to strengthen its market position in Canada and facilitate global expansion, particularly in the UK [6]. Company Background - VitalHub is a leading software company focused on empowering health and human services providers, with a product suite that includes electronic health records and operational intelligence, serving over 1,000 clients globally [10][11].

Core Points - Vitalhub Corp. held its annual general meeting on June 27, 2025, where all director nominees were elected and MNP LLP was appointed as auditors [1][3] Voting Results - Total shares voted were 33,721,314, representing 60.45% of the total shares issued and outstanding, which is 55,784,972 [1] - Election of Directors: - Barry Tissenbaum received 27,796,480 votes (83.01%) - Roger Dent received 22,227,480 votes (66.38%) - Stephen Garrington received 33,334,105 votes (99.55%) - Dan Matlow received 33,209,025 votes (99.18%) - Francis Shen received 24,660,909 votes (73.65%) - Tony Shen received 27,960,184 votes (83.50%) [2] - Appointment of Auditors: - MNP LLP received 33,564,368 votes (99.53%) for appointment as auditors [4] Company Overview - VitalHub is a leading software company focused on health and human services, offering a product suite that includes electronic health records and operational intelligence [5] - The company serves over 1,000 clients across the UK, Canada, and other regions, and has a growth strategy that includes both organic opportunities and an aggressive M&A plan [5]

Acquisition Overview - VitalHub Corp. has completed the cash acquisition of Induction Healthcare Group PLC through a court-sanctioned scheme of arrangement, valuing Induction at approximately £9.7 million [1][4] - The acquisition price was £0.10 in cash for each Induction share [4] Induction's Business and Financials - Induction provides software solutions that enhance care delivery and patient journeys in hospitals, with key products including Zesty and Attend Anywhere [3][6] - For the six-month period ending September 30, 2024, Induction reported revenues of £5.4 million, a gross margin of 78.2%, and an adjusted EBITDA loss of £0.9 million [4] - Zesty generated revenues of £2.0 million, while Attend Anywhere generated revenues of £3.2 million, with £0.2 million from discontinued operations [4] - As of the acquisition closing date, Zesty had an Annual Recurring Revenue (ARR) of £2.2 million, and Attend Anywhere had virtual care recurring revenue of £4.6 million [4][14] Strategic Rationale - The CEO of VitalHub stated that the Induction product set, particularly the Zesty platform, is highly complementary to VitalHub's existing solutions, aiming to enhance value for healthcare partners and improve patient outcomes [5] - VitalHub's growth strategy includes targeting organic opportunities and pursuing an aggressive M&A plan [5]

Core Viewpoint - VitalHub Corp. has filed a preliminary short form base shelf prospectus allowing for the potential distribution of up to $250 million in various securities over a 25-month period once finalized [1][2]. Group 1: Base Shelf Prospectus Details - The base shelf prospectus will enable the company to qualify the distribution of common shares, debt securities, warrants, subscription receipts, units, or any combination thereof [2]. - The specific terms of any offering will be established in a prospectus supplement, which will be filed with Canadian securities regulatory authorities [2][3]. - No securities can be sold or offers accepted until a receipt for the final base shelf prospectus is obtained [3]. Group 2: Company Overview - VitalHub is a leading software company focused on health and human services, serving over 1,000 clients globally [5]. - The company has a growth strategy that includes organic opportunities and an aggressive M&A plan [5]. - VitalHub is headquartered in Toronto and employs over 500 people worldwide, including a dedicated Innovations Lab in Sri Lanka [5].

Core Insights - VitalHub Corp. reported a strong start to 2025 with significant growth in Annual Recurring Revenue (ARR) and total revenue, indicating robust business performance and strategic positioning in the health and human services software market [3][6]. Financial Performance - ARR increased by 54% year-over-year to $73.7 million as of March 31, 2025, compared to $47.8 million in the same period last year [6][7]. - Total revenue for the first quarter of 2025 was $21.7 million, reflecting a 42% increase from $15.3 million in the prior year [6][7]. - Adjusted EBITDA rose by 39% year-over-year to $5.6 million, representing 26% of total revenue [6][7]. Growth Drivers - The ARR growth was driven by organic growth of $6.7 million (14%) and acquisition growth of $16.8 million (35%) over the past year [6]. - The company ended the first quarter with a cash balance exceeding $90 million, positioning it well for future acquisitions [3][6]. Strategic Initiatives - VitalHub is pursuing a potential cash acquisition of UK-based Induction Healthcare Group PLC, valued at approximately £9.7 million ($18 million), expected to close in Q3 2025 [3][6]. - The company maintains a disciplined approach to acquisitions, focusing on opportunities that offer strategic value and improved pricing [3]. Operational Highlights - The gross profit margin was 80% for the first quarter of 2025, slightly down from 81% in the prior year [7]. - The company serves over 1,000 clients globally, with a comprehensive product suite that includes electronic health records and operational intelligence solutions [8][9].

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) Valhi, Inc. reported strong Q1 2025 financial results, highlighted by a significant increase in net income and improved segment performance [Overall Performance](index=1&type=section&id=Overall%20Performance) Valhi, Inc. reported a significant increase in net income for the first quarter of 2025, reaching $16.9 million, more than double the $7.8 million from the same period in 2024, primarily driven by stronger operating results in the Chemicals Segment Q1 2025 vs Q1 2024 Performance Summary | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Income Attributable to Valhi Stockholders | $16.9 million | $7.8 million | +116.7% | | Diluted EPS | $0.59 | $0.27 | +118.5% | - The increase in net income was primarily due to higher operating results from the Chemicals Segment[1](index=1&type=chunk) - Effective July 16, 2024, the Chemicals Segment acquired the remaining 50% of Louisiana Pigment Company, L.P. (LPC), making it a wholly-owned subsidiary, with LPC's results included in the consolidated financials from the acquisition date[1](index=1&type=chunk) [Segment Performance](index=1&type=section&id=Segment%20Performance) Analysis of Valhi's business segments reveals varied performance, with strong growth in Chemicals and Component Products offsetting declines in Real Estate [Chemicals Segment](index=1&type=section&id=Chemicals%20Segment) The Chemicals Segment's net sales rose by 2% to $489.8 million in Q1 2025, driven by higher sales volumes in North America and Europe and increased TiO2 prices, while operating income surged by 80.7% to $41.2 million due to higher production volumes, improved pricing, and lower per-ton production costs Chemicals Segment Financials (Q1 2025 vs Q1 2024) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $489.8 M | $478.8 M | +2.3% | | Operating Income | $41.2 M | $22.8 M | +80.7% | - Net sales increased due to higher sales volumes in North American and European markets and **2% higher average TiO2 selling prices**, partially offset by lower export volumes and an **$11 million negative impact** from currency fluctuations[2](index=2&type=chunk) - Operating income growth was driven by higher sales and production volumes, higher prices, and lower per-metric-ton production costs, with TiO2 production volumes **18% higher** than in Q1 2024[3](index=3&type=chunk) - The segment operated at **93% of average capacity** in Q1 2025, up from **87%** in Q1 2024[3](index=3&type=chunk) [Component Products Segment](index=1&type=section&id=Component%20Products%20Segment) The Component Products Segment saw net sales increase to $40.3 million and operating income rise to $5.9 million in Q1 2025, primarily attributed to higher sales of marine components to the towboat and government markets, along with increased sales of security products to the government security market Component Products Segment Financials (Q1 2025 vs Q1 2024) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $40.3 M | $38.0 M | +6.1% | | Operating Income | $5.9 M | $3.7 M | +59.5% | - The increase in sales and operating income was driven by higher marine components sales (to towboat and government markets) and higher security products sales (to the government security market)[4](index=4&type=chunk) [Real Estate Management and Development Segment](index=1&type=section&id=Real%20Estate%20Management%20and%20Development%20Segment) This segment experienced a significant decline in performance, with net sales dropping to $8.5 million from $13.8 million in the prior-year quarter, linked to a slower pace of development activities caused by delays in obtaining city permits and environmental approvals Real Estate Segment Financials (Q1 2025 vs Q1 2024) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $8.5 M | $13.8 M | -38.4% | | Operating Income | $3.0 M | $5.0 M | -40.0% | - Land sales revenue is recognized over time based on development spending, and revenue declined due to a slower pace of development activities[5](index=5&type=chunk) - Development has been slowed by delays in obtaining city permits and environmental approvals from the Nevada Department of Environmental Protection[6](index=6&type=chunk) [Corporate Items and Expenses](index=3&type=section&id=Corporate%20Items%20and%20Expenses) Corporate financials show stable expenses but increased interest costs due to higher debt levels [Summary of Corporate-Level Financials](index=3&type=section&id=Summary%20of%20Corporate-Level%20Financials) In Q1 2025, corporate expenses remained stable compared to the previous year, however, interest income decreased by $1.4 million due to lower interest rates and cash balances, while interest expense rose by $1.9 million, primarily because of higher debt levels at the Chemicals Segment from transactions in 2024 - Corporate expenses were comparable between Q1 2025 and Q1 2024[7](index=7&type=chunk) - Interest income and other decreased by **$1.4 million** due to lower average interest rates and decreased cash balances[7](index=7&type=chunk) - Interest expense increased by **$1.9 million**, mainly due to higher overall debt levels resulting from the Chemicals Segment's debt transactions in 2024[7](index=7&type=chunk) [Forward-Looking Statements and Risk Factors](index=3&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) The report outlines significant risks and uncertainties that could impact future financial performance [Risk Disclosure](index=3&type=section&id=Risk%20Disclosure) The report includes forward-looking statements based on current management beliefs, which are subject to substantial risks and uncertainties, with numerous factors identified that could cause actual results to differ materially, including market supply and demand, raw material costs, global economic conditions, operational interruptions, currency fluctuations, and regulatory changes - The report contains forward-looking statements that are not historical facts and involve substantial risks and uncertainties[8](index=8&type=chunk) - Key risk factors include: * Future supply and demand for products like TiO2 * Changes in raw material and operating costs (ore, energy) * General global economic and political conditions * Operating interruptions, including labor disputes, natural disasters, and cyber-attacks * Fluctuations in currency exchange rates (USD vs. euro, Norwegian krone, Canadian dollar) * Environmental matters and changes in government laws and regulations[8](index=8&type=chunk)[11](index=11&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) Detailed financial statements provide a comprehensive overview of income and key segment performance drivers [Condensed Summary of Income](index=7&type=section&id=Condensed%20Summary%20of%20Income) For the first quarter of 2025, Valhi's total net sales grew to $538.6 million from $530.6 million year-over-year, total operating income increased significantly to $50.1 million from $31.5 million, and after accounting for corporate items and taxes, net income attributable to stockholders was $16.9 million, or $0.59 per share, a substantial increase from $7.8 million, or $0.27 per share, in Q1 2024 Condensed Summary of Income (In millions, except per share) | | Three months ended March 31, | | | :--- | :--- | :--- | | | **2024** | **2025** | | **Total net sales** | **$530.6** | **$538.6** | | **Total operating income** | **$31.5** | **$50.1** | | Income before income taxes | $18.0 | $30.8 | | Net income | $13.6 | $22.8 | | **Net income attributable to Valhi stockholders** | **$7.8** | **$16.9** | | **Basic and diluted net income per share** | **$0.27** | **$0.59** | [Impact of Percentage Change in Chemical Segment's Net Sales](index=8&type=section&id=Impact%20of%20Percentage%20Change%20in%20Chemical%20Segment%27s%20Net%20Sales) The 2% net sales growth in the Chemicals Segment for Q1 2025 was a result of positive and negative factors, with a 5% increase from TiO2 sales volumes and a 2% increase from pricing being the primary drivers, partially offset by a 2% negative impact from product mix/other factors and a 3% negative impact from currency exchange rates Drivers of Chemical Segment's Net Sales Change (Q1 2025 vs Q1 2024) | Factor | Percentage Change | | :--- | :--- | | TiO2 sales volumes | 5% | | TiO2 product pricing | 2% | | TiO2 product mix/other | (2%) | | Changes in currency exchange rates | (3%) | | **Total** | **2%** |

Part I. FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements for the quarter ended March 31, 2025, show a decrease in total assets to $2.76 billion from $2.80 billion at year-end 2024, primarily due to a significant reduction in cash. Net income attributable to Valhi stockholders increased substantially to $16.9 million from $7.8 million in the prior-year quarter, driven by improved performance in the Chemicals segment. Cash flow from operations showed a greater use of cash compared to the prior year, mainly due to a large environmental settlement payment [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets decreased to $2.76 billion from $2.80 billion at December 31, 2024. The decrease was primarily driven by a reduction in cash and cash equivalents from $348.3 million to $194.5 million. Total liabilities decreased to $1.34 billion from $1.42 billion, while total equity increased to $1.41 billion from $1.38 billion Condensed Consolidated Balance Sheet Highlights (In millions) | Account | Dec 31, 2024 | Mar 31, 2025 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $348.3 | $194.5 | | Inventories, net | $685.8 | $729.7 | | Total current assets | $1,453.7 | $1,410.0 | | Total assets | $2,800.2 | $2,757.2 | | **Liabilities & Equity** | | | | Total current liabilities | $643.8 | $528.6 | | Long-term debt | $484.4 | $525.9 | | Total liabilities | $1,421.1 | $1,343.9 | | Total Valhi stockholders' equity | $1,036.1 | $1,062.5 | | Total liabilities and equity | $2,800.2 | $2,757.2 | [Condensed Consolidated Statements of Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For the first quarter of 2025, Valhi reported a significant increase in profitability. Net income attributable to Valhi stockholders more than doubled to $16.9 million, or $0.59 per share, compared to $7.8 million, or $0.27 per share, in the same period of 2024. This improvement was driven by higher net sales of $538.6 million and a lower cost of sales at $416.1 million, resulting in a substantial increase in income before taxes Q1 2025 vs Q1 2024 Income Statement (In millions, except per share data) | Metric | Q1 2024 | Q1 2025 | | :--- | :--- | :--- | | Net sales | $530.6 | $538.6 | | Cost of sales | $444.3 | $416.1 | | Income before income taxes | $18.0 | $30.8 | | Net income | $13.6 | $22.8 | | Net income attributable to Valhi stockholders | $7.8 | $16.9 | | Basic and diluted net income per share | $0.27 | $0.59 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased significantly to $155.9 million in Q1 2025 from $48.8 million in Q1 2024, largely due to a $56.4 million payment for environmental remediation costs. Investing activities used $12.3 million, a reversal from providing $19.5 million in the prior year. Financing activities provided $19.9 million, mainly from net borrowings on Kronos' revolving credit facility. Overall, the cash balance at the end of the period decreased to $231.5 million Q1 2025 vs Q1 2024 Cash Flows (In millions) | Cash Flow Activity | Q1 2024 | Q1 2025 | | :--- | :--- | :--- | | Net cash used in operating activities | $(48.8) | $(155.9) | | Net cash provided by (used in) investing activities | $19.5 | $(12.3) | | Net cash provided by (used in) financing activities | $(32.0) | $19.9 | | **Net change in cash** | **$(61.3)** | **$(148.3)** | - A significant driver for the increased use of cash in operations was a **$56.4 million** payment for accrued environmental remediation and related costs in Q1 2025[23](index=23&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's structure, segment performance, debt, revenue sources, and significant legal and environmental contingencies. Key highlights include strong performance in the Chemicals segment, a major environmental settlement payment by subsidiary NL Industries, and details on the 2024 acquisition of the remaining interest in Louisiana Pigment Company, L.P. (LPC) Q1 2025 vs Q1 2024 Segment Operating Income (In millions) | Segment | Q1 2024 Operating Income | Q1 2025 Operating Income | | :--- | :--- | :--- | | Chemicals | $22.8 | $41.2 | | Component products | $3.7 | $5.9 | | Real estate management and development | $5.0 | $3.0 | | **Total operating income** | **$31.5** | **$50.1** | - In Q1 2025, subsidiary NL Industries paid **$56.1 million** plus interest to settle claims related to the Raritan Bay Slag Superfund Site. This payment was a major use of cash during the quarter[72](index=72&type=chunk) - In July 2024, Kronos acquired the remaining **50%** interest in Louisiana Pigment Company, L.P. (LPC) for consideration of **$185 million** less adjustments. The deal includes a potential earn-out payment of up to **$15 million** based on future EBITDA performance[84](index=84&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the significant increase in Q1 2025 net income to higher operating income from the Chemicals Segment, which benefited from increased sales volumes and lower production costs. The Component Products segment also saw improved results, while the Real Estate segment's income declined. The company expects consolidated operating income for the full year 2025 to be higher than in 2024. Liquidity was impacted by a large environmental settlement payment, but the company believes it has sufficient resources to meet its obligations, including the repayment of Kronos' €75 million notes due in September 2025 [Operations Overview](index=38&type=section&id=Operations%20Overview) Net income attributable to Valhi stockholders rose to $16.9 million ($.59/share) in Q1 2025 from $7.8 million ($.27/share) in Q1 2024. The increase is primarily due to the Chemicals Segment's operating income growing to $41.2 million from $22.8 million. For the full year 2025, the company forecasts higher consolidated operating income compared to 2024, driven by expected improvements across all three segments - The primary driver for the increase in Q1 2025 net income was the Chemicals Segment, where operating income rose by **$18.4 million** year-over-year[101](index=101&type=chunk) - The company projects higher operating income for the full year 2025 compared to 2024, anticipating positive contributions from increased sales volumes and lower costs in Chemicals, higher infrastructure reimbursements in Real Estate, and improved sales in Component Products[104](index=104&type=chunk) [Chemicals Segment](index=38&type=section&id=Chemicals%20Segment) The Chemicals segment's operating income surged 81% to $41.2 million in Q1 2025, driven by a 5% increase in TiO2 sales volumes and a 2% rise in average selling prices. Gross margin improved significantly from 15% to 22% of net sales, benefiting from lower raw material and utility costs and higher production rates (93% capacity utilization vs. 87% in Q1 2024). The outlook is cautious due to tariff uncertainty, but the company expects improved operating results for 2025, supported by cost reduction initiatives and the integration of the LPC acquisition Chemicals Segment Operating Statistics - Q1 2025 vs Q1 2024 | Metric | Q1 2024 | Q1 2025 | % Change | | :--- | :--- | :--- | :--- | | Net sales | $478.8M | $489.8M | 2% | | Operating income | $22.8M | $41.2M | 81% | | Gross margin % | 15% | 22% | 50% | | Sales volumes (k metric tons) | 130 | 136 | 5% | | Production volumes (k metric tons) | 121 | 143 | 18% | - The segment's cost of sales as a percentage of net sales improved from **85%** to **78%**, primarily due to lower production costs and increased absorption of fixed costs from higher production volumes[116](index=116&type=chunk) - The outlook is tempered by uncertainty around potential U.S. tariffs, which has made customers hesitant to build inventory. However, demand in Europe has improved, partly due to duties on Chinese TiO2 imports[126](index=126&type=chunk) [Component Products Segment](index=46&type=section&id=Component%20Products%20Segment) The Component Products segment's operating income increased 58% to $5.9 million in Q1 2025 from $3.7 million in the prior-year period. This was driven by a 24% increase in marine components sales, particularly to the towboat and government markets. Security products sales were nearly flat. Gross margin improved from 25% to 30% due to a favorable sales mix and better fixed cost absorption. The company expects modest sales improvement for the full year 2025 Component Products Net Sales by Line (In millions) | Product Line | Q1 2024 | Q1 2025 | % Change | | :--- | :--- | :--- | :--- | | Security products | $29.9 | $30.2 | 1% | | Marine components | $8.1 | $10.1 | 24% | | **Total net sales** | **$38.0** | **$40.3** | **6%** | - The increase in operating income was primarily due to higher marine components sales and improved gross margin, which rose from **25%** to **30%** of net sales[134](index=134&type=chunk)[136](index=136&type=chunk) - The company anticipates potential cost increases from tariffs on certain raw materials and electronic components but believes it can raise selling prices to recoup these costs[140](index=140&type=chunk)[142](index=142&type=chunk) [Real Estate Management and Development Segment](index=50&type=section&id=Real%20Estate%20Management%20and%20Development%20Segment) The Real Estate segment's operating income decreased to $3.0 million in Q1 2025 from $5.0 million in Q1 2024. Net sales, all related to land sold in prior years and recognized over time, fell to $8.5 million from $13.7 million due to a slower pace of development activity. As of March 31, 2025, the segment has approximately 35 saleable acres remaining, all of which are currently in escrow and expected to close by the end of 2025. The company has $27.6 million in deferred revenue to be recognized over the next one to two years as post-closing obligations are completed - Land sales revenue decreased in Q1 2025 due to a slower pace of development for previously sold parcels, caused by delays in city permits and environmental approvals[147](index=147&type=chunk) - At March 31, 2025, approximately **20 acres** in the residential community and **15 acres** zoned for industrial/commercial use are in escrow, with sales expected to close by the end of 2025[148](index=148&type=chunk) - The segment has **$27.6 million** in deferred revenue related to post-closing obligations on land sold prior to 2024, which is expected to be recognized over the next **1-2 years**[148](index=148&type=chunk) [Liquidity and Capital Resources](index=54&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity was significantly impacted by a $107.1 million year-over-year increase in cash used for operations, primarily due to a large environmental settlement payment. Despite this, management believes it has sufficient liquidity to meet short-term and long-term obligations, including the repayment of Kronos' €75 million notes in September 2025. Total debt stood at $607.8 million. Planned capital expenditures for 2025 are approximately $58 million - Cash used in operating activities was **$155.9 million** in Q1 2025, a significant increase from **$48.8 million** in Q1 2024, mainly due to a **$57.4 million** payment for an environmental remediation settlement[163](index=163&type=chunk) - The company expects to have sufficient liquidity to meet its obligations, including the repayment of Kronos' **€75 million** Senior Secured Notes due in September 2025, using cash from operations and borrowings on its Global Revolver if needed[181](index=181&type=chunk) - Aggregate capital expenditures for 2025 are projected to be approximately **$58 million**, with **$55 million** for the Chemicals Segment and **$3 million** for the Component Products Segment[185](index=185&type=chunk)[191](index=191&type=chunk) - In July 2024, Kronos reduced its quarterly dividend from **$.19** to **$.05** per share. In February 2025, NL increased its quarterly dividend from **$.08** to **$.09** per share[192](index=192&type=chunk)[193](index=193&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes in its exposure to market risks, including currency exchange rates, interest rates, equity security prices, and raw material prices, since the filing of its 2024 Annual Report on Form 10-K - There have been no material changes in market risks since the 2024 Annual Report[203](index=203&type=chunk) [Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures as of March 31, 2025, and concluded they were effective. There were no changes to the internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, these controls - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[204](index=204&type=chunk) - No material changes to internal control over financial reporting occurred during the first quarter of 2025[208](index=208&type=chunk) Part II. OTHER INFORMATION [Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) The company refers to Note 16 of the Condensed Consolidated Financial Statements and its 2024 Annual Report for descriptions of its legal proceedings. These primarily involve lead pigment litigation and environmental matters related to its subsidiary, NL Industries - For information on legal proceedings, the report directs readers to Note 16 of the financial statements and the 2024 Annual Report[210](index=210&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) The company states there have been no material changes to the risk factors previously disclosed in its 2024 Annual Report on Form 10-K - The company refers to its 2024 Annual Report for a full discussion of risk factors, indicating no material changes[211](index=211&type=chunk) [Exhibits](index=41&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, which include officer certifications (31.1, 31.2, 32.1) and Inline XBRL data files as required by the SEC - Exhibits filed include CEO and CFO certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[214](index=214&type=chunk)

Core Insights - Valhi, Inc. reported a significant increase in net income attributable to stockholders, reaching $16.9 million or $0.59 per share in Q1 2025, compared to $7.8 million or $0.27 per share in Q1 2024, primarily driven by improved operating results in the Chemicals Segment [1][12]. Chemicals Segment - The Chemicals Segment's net sales were $489.8 million in Q1 2025, an increase of $11 million or 2% from $478.8 million in Q1 2024, attributed to higher sales volumes in North America and Europe, offset by lower export sales and a decline in average TiO2 selling prices [2][12]. - Operating income for the Chemicals Segment rose to $41.2 million in Q1 2025 from $22.8 million in Q1 2024, driven by increased sales and production volumes, higher average TiO2 prices, and reduced production costs [3][12]. - TiO2 production volumes increased by 18% in Q1 2025 compared to Q1 2024, with production facilities operating at average capacities of 93% in 2025 versus 87% in 2024 [3]. Component Products Segment - The Component Products Segment reported net sales of $40.3 million in Q1 2025, up from $38.0 million in Q1 2024, due to increased sales of marine components and security products [4][12]. - Operating income for this segment increased to $5.9 million in Q1 2025 from $3.7 million in Q1 2024, primarily due to higher sales and improved gross margins [4]. Real Estate Management and Development Segment - The Real Estate Management and Development Segment's net sales decreased to $8.5 million in Q1 2025 from $13.8 million in Q1 2024, attributed to a slowdown in development activities and delays in obtaining necessary permits [5][12]. Corporate Expenses - Corporate expenses remained comparable to the same period in 2024, with interest income and other decreasing by $1.4 million due to lower average interest rates and reduced cash balances [6][7]. - Interest expense increased by $1.9 million in Q1 2025 compared to Q1 2024, primarily due to higher debt levels from transactions in the Chemicals Segment [7].

Core Viewpoint - VitalHub Corp. is set to release its financial results for Q1 2025 on May 8, 2025, followed by a conference call on May 9, 2025, hosted by CEO Dan Matlow and CFO Brian Goffenberg [1] Company Overview - VitalHub is a leading software company focused on empowering health and human services providers globally [2] - The company offers a comprehensive product suite that includes electronic health records, operational intelligence, and workforce automation solutions, serving over 1,000 clients across the UK, Canada, and other regions [2] - VitalHub employs over 500 individuals globally and has a dedicated Innovations Lab located in Sri Lanka [2] - The company has a robust growth strategy that includes targeting organic opportunities within its product suite and pursuing an aggressive M&A plan [2]