Kronos Worldwide Inc of Dallas, TX has reported a third quarter 2021 net income of US$36 million on net sales of US$499.8 million compared with a net income of US$8.1 million on sales of US$416.9 million in the third quarter of 2020.
The company’s higher net income in the third quarter of 2021 was primarily due to higher income from operations, resulting from higher sales volumes and higher average titanium dioxide prices, partially offset by higher production costs.
Kronos’ average titanium dioxide selling prices were 11% higher in the third quarter of 2021 compared to the third quarter of 2020. Sales volumes were 6% higher than in the third quarter of 2020 due to higher demand in its European and North American markets.
The company operated its titanium dioxide production facilities at overall average capacity utilization rates of 99% in the first nine months of 2021 compared with 92% in the first nine months of 2020.
Volume 35, Issue 21