KRONOS WORLDWIDE, INC._March 31, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 1-31763

KRONOS WORLDWIDE, INC.

(Exact name of registrant as specified in its charter)


DELAWARE		76-0294959
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

5430 LBJ Freeway, Suite 1700

Dallas, Texas 75240-2620

(Address of principal executive offices)

Registrant’s telephone number, including area code: (972) 233-1700

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock	KRO	NYSE

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

Number of shares of the registrant’s common stock, $.01 par value per share, outstanding on May 1, 2026: 115,053,116

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KRONOS WORLDWIDE, INC. AND SUBSIDIARIES

INDEX


		Page number
Part I.	FINANCIAL INFORMATION
Item 1.	Financial Statements
	Condensed Consolidated Balance Sheets - December 31, 2025 and March 31, 2026 (unaudited)	3
	Condensed Consolidated Statements of Operations (unaudited) - Three months ended March 31, 2025 and 2026	5
	Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) - Three months ended March 31, 2025 and 2026	6
	Condensed Consolidated Statements of Stockholders’ Equity (unaudited) - Three months ended March 31, 2025 and 2026	7
	Condensed Consolidated Statements of Cash Flows (unaudited) - Three months ended March 31, 2025 and 2026	8
	Notes to Condensed Consolidated Financial Statements (unaudited)	9
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		16
Item 3.	Quantitative and Qualitative Disclosure About Market Risk		25
Item 4.	Controls and Procedures		25
Part II.	OTHER INFORMATION
Item 1A.	Risk Factors		25
Item 6.	Exhibits		26
Items 2, 3, 4 and 5 of Part II are omitted because there is no information to report.

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KRONOS WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)


ASSETS		December 31,			March 31,
		2025			2026
					(unaudited)
Current assets:
Cash and cash equivalents		$	33.2		$	25.7
Restricted cash			3.8			2.5
Accounts and other receivables, net			287.8			374.4
Inventories, net			628.6			549.3
Prepaid expenses and other			41.1			36.6

Total current assets			994.5			988.5

Other assets:
Restricted cash			5.5			5.4
Marketable securities			1.8			2.1
Operating lease right-of-use assets			19.9			19.0
Deferred income taxes			35.8			32.8
Goodwill			2.6			2.6
Other			32.4			35.3

Total other assets			98.0			97.2

Property and equipment:
Land			79.3			78.6
Buildings			279.8			274.5
Equipment			1,459.1			1,439.3
Mining properties			134.2			138.6
Construction in progress			44.5			48.5
			1,996.9			1,979.5
Less accumulated depreciation and amortization			1,272.6			1,266.9

Net property and equipment			724.3			712.6

Total assets		$	1,816.8		$	1,798.3

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KRONOS WORLDWIDE, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)

(In millions)


LIABILITIES AND STOCKHOLDERS’ EQUITY		December 31,			March 31,
		2025			2026
					(unaudited)
Current liabilities:
Accounts payable and accrued liabilities		$	354.4		$	296.8
Income taxes			14.4			14.2

Total current liabilities			368.8			311.0

Noncurrent liabilities:
Long-term debt			557.4			602.7
Accrued pension costs			80.9			76.4
Operating lease liabilities			15.7			14.9
Deferred income taxes			15.2

SEC Form 10-Q filed by Kronos Worldwide Inc