NL Industries(US:NL)2026-03-09 20:20Financial Performance - NL Industries reported a net loss of $31.0 million, or $0.63 per share, in Q4 2025, compared to a net income of $16.5 million, or $0.34 per share, in Q4 2024[1]. - For the full year 2025, NL Industries had a net loss of $37.8 million, or $0.77 per share, compared to a net income of $67.2 million, or $1.38 per share, in 2024[1]. - Kronos experienced a loss from operations of $63.1 million in Q4 2025, compared to income from operations of $28.6 million in Q4 2024[8]. - Income from operations for the three months ended December 31, 2025, was $2.9 million, a significant decrease from $33.7 million in 2024; for the year, income from operations dropped to $10.7 million from $37.9 million[20]. - Net income attributable to NL stockholders for the three months ended December 31, 2025, was a loss of $31.0 million, compared to a profit of $16.5 million in 2024; for the year, net income decreased to a loss of $37.8 million from a profit of $67.2 million[20]. Sales Performance - Kronos' net sales for Q4 2025 were $418.3 million, a decrease of $4.8 million, or 1%, compared to Q4 2024[5]. - Kronos' net sales for the full year 2025 were $1.9 billion, down $27.7 million, or 1%, from 2024[5]. - CompX's net sales for Q4 2025 were $37.7 million, down from $38.4 million in Q4 2024, while full year sales increased to $158.3 million from $145.9 million in 2024[2]. - Net sales for the three months ended December 31, 2025, were $37.7 million, a decrease of 1% compared to $38.4 million in 2024; for the year ended December 31, 2025, net sales increased to $158.3 million from $145.9 million in 2024, representing an 8.2% growth[20]. Profitability Metrics - CompX's segment profit for Q4 2025 was $5.6 million, an increase from $4.9 million in Q4 2024, and for the full year, it rose to $22.6 million from $17.0 million[2]. - The CompX segment profit for the three months ended December 31, 2025, was $5.6 million, up from $4.9 million in 2024; for the year, segment profit increased to $22.6 million from $17.0 million[22]. - Gross margin improved to 12.1% for the three months ended December 31, 2025, compared to 11.0% in 2024; for the year, gross margin increased to 48.2% from 41.3%[20]. Equity and Losses - NL recognized equity in losses of Kronos amounting to $25.3 million in Q4 2025, compared to losses of $4.0 million in Q4 2024[3]. - NL's equity in losses of Kronos for the full year 2025 included a loss of $33.9 million, contrasting with equity earnings of $26.4 million in 2024[3]. Pricing and Market Factors - Kronos' average TiO2 selling prices were 8% lower in Q4 2025 compared to Q4 2024, and 4% lower for the full year 2025 compared to 2024[7]. - The percentage change in net sales for TiO2 sales volume was +7% for the three months ended December 31, 2025, while product pricing decreased by 8%[24]. - Changes in currency exchange rates positively impacted net sales by 3% for the three months ended December 31, 2025[24]. Corporate Income and Expenses - Corporate income (expense) showed a significant change, with a loss of $2.7 million for the three months ended December 31, 2025, compared to income of $28.7 million in 2024[22]. - Interest and dividend income increased to $1.4 million for the three months ended December 31, 2025, from $3.1 million in 2024[20]. - The weighted average shares used in the calculation of net income per share remained stable at approximately 48.9 million for both years[20].