Financial Performance - Valhi reported net income attributable to stockholders of 7.8million,or0.27 per share, in Q1 2024, compared to a net loss of 4.9million,or0.17 per share, in Q1 2023[1] - Valhi's total net sales increased by 37.9million(7.7530.6 million in Q1 2024, with total operating income rising to 31.5millionfrom2.5 million in Q1 2023[15] - Valhi's income before taxes improved to 18.0millioninQ12024fromalossof9.8 million in Q1 2023, with net income attributable to stockholders increasing by 12.7million[15]ChemicalsSegmentPerformance−TheChemicalsSegment′snetsalesincreasedby52.5 million (12%) to 478.8millioninQ12024,drivenbya284 million positive impact from currency exchange rates[4][13] - The Chemicals Segment's operating income improved to 22.8millioninQ12024fromanoperatinglossof15.1 million in Q1 2023, with TiO2 production volumes up 15% and capacity utilization increasing from 76% to 87%[10] - The Chemicals Segment's unabsorbed fixed costs decreased by 10millionto12 million in Q1 2024 compared to 22millioninQ12023,reflectingimprovedproductionrates[10]−AverageTiO2sellingpriceswere113.2 million (7.8%) to 38.0millioninQ12024,withoperatingincomedecliningto3.7 million from 7.0millioninQ12023[3]RealEstateManagementandDevelopmentSegmentPerformance−TheRealEstateManagementandDevelopmentSegment′ssalesdecreasedby11.4 million (45.2%) to 13.8millioninQ12024duetoreduceddevelopmentactivity[14]InterestExpense−Interestexpenseincreasedby4.3 million in Q1 2024, primarily due to higher interest rates on the Chemicals Segment's refinanced debt and a $1.5 million charge for deferred financing costs write-off[11]
Valhi(VHI)2024-05-09 20:19