NL Industries, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>NL Industries, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and operations.</b>

AI Summary

NL INDUSTRIES INC (NL) filed a Annual Report (10-K) with the SEC on March 6, 2024. NL Industries, Inc. filed its 2023 Form 10-K on March 6, 2024. The company's fiscal year ends on December 31st. NL Industries, Inc. is incorporated in New Jersey. The company's principal executive offices are located in Dallas, Texas. The SIC code for NL Industries, Inc. is 2810 (Industrial Inorganic Chemicals).

Why It Matters

For investors and stakeholders tracking NL INDUSTRIES INC, this filing contains several important signals. This filing provides a comprehensive overview of NL Industries' financial health and strategic positioning for the fiscal year 2023. Investors and analysts can use this report to assess the company's performance, identify potential risks, and make informed investment decisions.

Risk Assessment

Risk Level: medium — NL INDUSTRIES INC shows moderate risk based on this filing. The filing does not contain sufficient specific financial data or forward-looking statements to definitively assess risk levels beyond standard reporting requirements.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand NL Industries' performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240306 — Filing Date (Filed as of date)
• 2810 — SIC Code (Standard Industrial Classification)
• 001-00640 — SEC File Number (SEC file number)

Key Players & Entities

• NL INDUSTRIES INC (company) — Filer
• NATIONAL LEAD CO (company) — Former company name
• NJ (location) — State of incorporation
• DALLAS (location) — City of business address
• TX (location) — State of business address
• 972-233-1700 (phone) — Business phone number

FAQ

Industry Context

NL Industries, Inc. operates within the Industrial Inorganic Chemicals sector.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the full 10-K for detailed financial statements and disclosures.
2. Identify specific risk factors and management's discussion of the company's performance.
3. Compare 2023 results with previous years to identify trends.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-06: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Filing Documents

• nl-20231231x10k.htm (10-K) — 3111KB
• nl-20231231xex10d13.htm (EX-10.13) — 12KB
• nl-20231231xex21d1.htm (EX-21.1) — 14KB
• nl-20231231xex23d1.htm (EX-23.1) — 2KB
• nl-20231231xex23d2.htm (EX-23.2) — 2KB
• nl-20231231xex31d1.htm (EX-31.1) — 13KB
• nl-20231231xex31d2.htm (EX-31.2) — 14KB
• nl-20231231xex32d1.htm (EX-32.1) — 10KB
• nl-20231231xex97.htm (EX-97) — 132KB
• nl-20231231x10k004.jpg (GRAPHIC) — 66KB
• 0001558370-24-002620.txt (&nbsp;) — 12636KB
• nl-20231231.xsd (EX-101.SCH) — 70KB
• nl-20231231_cal.xml (EX-101.CAL) — 98KB
• nl-20231231_def.xml (EX-101.DEF) — 307KB
• nl-20231231_lab.xml (EX-101.LAB) — 640KB
• nl-20231231_pre.xml (EX-101.PRE) — 529KB
• nl-20231231x10k_htm.xml (XML) — 2324KB

BUSINESS

ITEM 1. BUSINESS The Company NL Industries, Inc. was organized as a New Jersey corporation in 1891. Our common stock trades on the New York Stock Exchange, or the NYSE, under the symbol NL. References to "NL Industries," "NL," the "Company," the "Registrant," "we," "our," "us" and similar terms mean NL Industries, Inc. and its subsidiaries and affiliate, unless the context otherwise requires. Our principal executive offices are located at Three Lincoln Center, 5430 LBJ Freeway, Suite 1700, Dallas, TX 75240. Our telephone number is (972) 233-1700. We maintain a website at www.nl-ind.com . Business summary We are primarily a holding company. We operate in the component products industry through our majority-owned subsidiary, CompX International Inc. (NYSE American: CIX). We operate in the chemicals industry through our noncontrolling interest in Kronos Worldwide, Inc. CompX and Kronos (NYSE: KRO) each file periodic reports with the Securities and Exchange Commission (SEC). Organization At December 31, 2023, Valhi, Inc. (NYSE: VHI) held approximately 83% of our outstanding common stock and a wholly-owned subsidiary of Contran Corporation held approximately 91% of Valhi's outstanding common stock. As discussed in Note 1 to our Consolidated Financial Statements, Lisa K. Simmons and a trust established for the benefit of Ms. Simmons and her late sister and their children (the "Family Trust") may be deemed to control Contran, and therefore may be deemed to indirectly control the wholly-owned subsidiary of Contran, Valhi and us.

Forward-looking statements

Forward-looking statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Statements in this Annual Report that are not historical facts are forward-looking in nature and represent management's beliefs and assumptions based on currently available information. In some cases, you can identify forward-looking statements by the use of words such as "believes," "intends," "may," "should," "could," "anticipates," "expects" or comparable terminology, or by discussions of strategies or trends. Although we believe the expectations reflected in such forward-looking statements are reasonable, we do not know if these expectations will be correct. Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results. Actual future results could differ materially from those predicted. The factors that could cause actual future results to differ materially from those described herein are the risks and uncertainties discussed in this Annual Report and those described from time to time in our other filings with the SEC and include, but are not limited to, the following: Future supply and demand for our products; The extent of the dependence of certain of our businesses on certain market sectors; The cyclicality of our businesses (such as Kronos' TiO 2 operations); Customer and producer inventory levels; Unexpected or earlier-than-expected industry capacity expansion (such as the TiO 2 industry); Changes in raw material and other operating costs (such as energy, ore, zinc, aluminum, steel and brass costs) and our ability to pass those costs on to our customers or offset them with reductions in other operating costs; Changes in the availability of raw material (such as ore); -2- General global economic and political conditions that harm the worldwide economy, disrupt our supply chain, increase material and energy

Business

Business Size Facility Name Operations Location (square feet) Owned Facilities : National (1) SP Mauldin, SC 198,000 Grayslake (1) SP/MC Grayslake, IL 133,000 Custom (1) MC Neenah, WI 95,000 SP – Security Products business MC – Marine Components business (1) ISO-9001 registered facilities CompX believes all of its facilities are well maintained and satisfactory for their intended purposes. -5- Raw materials - The primary raw materials used in CompX's manufacturing processes are: Security Products - zinc and brass (for the manufacture of locking mechanisms). Marine Components - stainless steel (for the manufacture of exhaust headers and pipes and wake enhancement systems), aluminum (for the manufacture of throttles and trim tabs) and other components. These raw materials are purchased from several suppliers, are readily available from numerous sources and accounted for approximately 13% of our total cost of sales for 2023. Total material costs, including purchased components, represented approximately 48% of our cost of sales in 2023. CompX occasionally enters into short-term commodity-related raw material supply arrangements to mitigate the impact of future price increases in commodity-related raw materials, including zinc, brass, aluminum and stainless steel. These arrangements generally provide for stated unit prices based upon specified purchase volumes, which help CompX to stabilize its commodity-related raw material costs to a certain extent. At other times CompX may make spot market buys of larger quantities of raw materials to take advantage of favorable pricing or volume-based discounts. After increasing in 2021 and the first half of 2022, prices for the primary commodity-related raw materials used in the manufacture of CompX's locking mechanisms, primarily zinc and brass, generally began to stabilize in the latter half of 2022 and into 2023 and generally began soften in the latter half of 2023. The prices for stainl

View Full Filing

View this 10-K filing on SEC EDGAR