KRONOS WORLDWIDE Files 8-K on Financial Condition, Reg FD Disclosure

TL;DR

**KRONOS WORLDWIDE just dropped an 8-K on financial results, get ready for potential stock movement.**

AI Summary

KRONOS WORLDWIDE, INC. filed an 8-K on January 23, 2024, to report on its 'Results of Operations and Financial Condition' and 'Regulation FD Disclosure'. This filing indicates that the company is likely providing an update on its financial performance, which is crucial for investors to understand the company's health and future prospects. While specific dollar amounts are not detailed in this summary filing, the disclosure of these items suggests that important financial information is being made public, which could impact the stock price as investors react to the news.

Why It Matters

This filing signals that KRONOS WORLDWIDE, INC. is releasing key financial information, which directly affects how investors perceive the company's value and future earnings potential. Understanding these results is vital for making informed investment decisions.

Risk Assessment

Risk Level: medium — The risk level is medium because while the filing itself is procedural, the undisclosed financial results it references could contain either positive or negative news, leading to stock volatility.

Analyst Insight

A smart investor would monitor KRONOS WORLDWIDE, INC.'s news releases closely for the actual financial results that this 8-K foreshadows, as these will provide the concrete data needed to assess the company's performance and potential stock movement.

Key Players & Entities

• KRONOS WORLDWIDE, INC. (company) — the registrant filing the 8-K
• January 23, 2024 (date) — date of the earliest event reported and filing date
• Dallas, Texas (location) — principal executive offices of KRONOS WORLDWIDE, INC.
• Delaware (location) — state of incorporation for KRONOS WORLDWIDE, INC.

Forward-Looking Statements

• KRONOS WORLDWIDE, INC. will release detailed financial statements related to its 'Results of Operations and Financial Condition' soon after this 8-K. (KRONOS WORLDWIDE, INC.) — high confidence, target: 2024-02-23

FAQ

Key Financial Figures

• $390 million — fourth quarter of 2023 in the range of $390 million to $410 million compared to net sales o
• $410 million — of 2023 in the range of $390 million to $410 million compared to net sales of $342 million r
• $342 million — o $410 million compared to net sales of $342 million reported in the fourth quarter of 2022.
• $5 million — inancial measure, to be in the range of $5 million to $8 million compared to EBITDA of $(8
• $8 million — re, to be in the range of $5 million to $8 million compared to EBITDA of $(8.2) million fo
• $7 million — 023 EBITDA is impacted by approximately $7 million of charges related to targeted workforc
• $3 million — rkforce reductions and an approximately $3 million charge related to the write-off of cert
• $4 million — apital expenditures to be in a range of $4 million to $5 million compared to $18.8 million
• $18.8 million — of $4 million to $5 million compared to $18.8 million for the fourth quarter of 2022 and $8.2
• $8.2 million — lion for the fourth quarter of 2022 and $8.2 million for the third quarter of 2023. As of De
• $195 million — ivalents and restricted cash of between $195 million and $205 million, compared with $161.8
• $205 m — ricted cash of between $195 million and $205 million, compared with $161.8 million as
• $161.8 million — million and $205 million, compared with $161.8 million as of September 30, 2023, with total li
• $225 million — f committed amounts under the Company's $225 million Global Revolver (availability of which
• $420 million — subject to a borrowing base) of between $420 million and $430 million. Preliminary 2024 Out

Filing Documents

• kro-20240123x8k.htm (8-K) — 81KB
• kro-20240123xex99d1.htm (EX-99.1) — 55KB
• kro-20240123xex99d1002.jpg (GRAPHIC) — 11KB
• 0001257640-24-000003.txt ( ) — 322KB
• kro-20240123.xsd (EX-101.SCH) — 4KB
• kro-20240123_def.xml (EX-101.DEF) — 3KB
• kro-20240123_lab.xml (EX-101.LAB) — 12KB
• kro-20240123_pre.xml (EX-101.PRE) — 10KB
• kro-20240123x8k_htm.xml (XML) — 5KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. The information under "Preliminary Fourth Quarter Update" set forth under Item 7.01 below is incorporated into this Item 2.02 by reference.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. Exchange Offer and Consent Solicitation On January 23, 2024, Kronos Worldwide, Inc. (the "Company") announced the launch of an offer (the "Exchange Offer") to eligible holders of the 3.75% Senior Secured Notes due 2025 (the "Old Notes") issued by Kronos International, Inc. (the "Issuer"), a wholly-owned subsidiary of the Company, to exchange a portion of their Old Notes for a combination of (a) newly issued 9.50% Senior Secured Notes due 2029 (the "New Notes") to be issued by the Issuer, and (b) cash. The Old Notes are, and the New Notes will be, guaranteed by the Company and its wholly-owned domestic subsidiaries other than the Issuer. The Issuer's obligation to complete the Exchange Offer is subject to the satisfaction or waiver of certain conditions, including the receipt of valid tenders, not withdrawn, of at least 275,000,000 principal amount of Old Notes. The maximum principal amount of Old Notes that will be accepted in the Exchange Offer will be 325,000,000, which amount may be reduced to the extent that (i) less than 325,000,000 principal amount of Old Notes are validly tendered and not withdrawn on or prior to an early participation expiration date described in the relevant confidential exchange offer memorandum and (ii) additional New Notes, fungible with the New Notes being issued in the Exchange Offer, are sold in a private offering to qualifying investors (the "Additional New Notes Offering") in order to redeem Old Notes remaining outstanding as of such date in amounts that would leave 75 million or less principal of Old Notes outstanding after giving effect to such redemptions. In conjunction with the Exchange Offer, the Issuer has also commenced a consent solicitation (the "Consent Solicitation") to solicit consents from holders of the Issuer's Old Notes to certain proposed amendments to the indenture governing the Old Notes that would modify the restrictive covenants contained in the indenture pertaining to

Forward-Looking Statements

Forward-Looking Statements The statements in this Current Report on Form 8-K relating to matters that are not historical facts are forward-looking statements that represent managements beliefs and assumptions based on currently available information. These forward-looking statements include, among others, statements about the potential outcome or effect of the Exchange Offer and statements regarding management's outlook for 2024 including the realization of potential cost savings. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurances that these expectations will prove to be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results, and actual future results could differ materially from those described in such forward-looking statements. The factors that could cause actual future results to differ materially include, but are not limited to, the following future supply and demand for the Company's products; the Company's ability to realize expected cost savings from strategic and operational initiatives; the extent of the dependence of certain of the Company's businesses on certain market sectors; the cyclicality of the Company's business; customer and producer inventory levels; unexpected or earlier-than-expected industry capacity expansion; changes in raw material and other operating costs (such as energy and ore costs); changes in the availability of raw materials (such as ore); general global economic and political conditions that harm the worldwide economy, disrupt the Company's supply chain, increase material and energy costs or reduce demand or perceived demand for the Company's TiO 2 products or impair the Company's ability to operate its facilities (including changes in the level of gross domestic product in various regions of the world, natural disasters, terrorist acts, global conflicts a

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release, dated January 23, 2024, issued by Kronos Worldwide, Inc. 104 Cover Page Interactive Data File (embedded within Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KRONOS WORLDWIDE, INC. (Registrant) Date: January 23, 2024 By: /s/ Tim C. Hafer Tim C. Hafer, Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR