Traders should monitor Kronos' ability to stabilize TiO2 pricing and improve production utilization. The sharp deterioration in Kronos' performance is a major drag on NL, and any further weakness in European or global demand could exacerbate losses. The pension charge is non-recurring, but structural issues in the TiO2 business remain concerning.
Price Chart
Executive Summary
NL Industries reported a significant net loss of $31.0 million in Q4 2025, reversing from a $16.5 million profit in the same quarter of 2024, driven by a $19.7 million pension plan termination loss and sharply higher equity losses from Kronos. Full-year 2025 net loss was $37.8 million versus a $67.2 million profit in 2024. While CompX showed modest sales and profit growth, Kronos suffered from lower TiO2 prices and production inefficiencies, with operating losses widening dramatically.
Key Financial Metrics
Key Facts
- NL reported a net loss of $31.0 million in Q4 2025 vs. net income of $16.5 million in Q4 2024
- Full-year 2025 net loss was $37.8 million vs. $67.2 million net income in 2024
- CompX segment profit increased to $5.6M in Q4 2025 from $4.9M in Q4 2024
- NL's equity in Kronos losses widened to $25.3M in Q4 2025 from $4.0M in Q4 2024
- Kronos' Q4 2025 operating loss was $63.1M vs. $28.6M operating income in Q4 2024
- Kronos' average TiO2 selling prices were 8% lower YoY in Q4 2025 and 4% lower for full-year 2025
- Kronos operated at 55% capacity in Q4 2025 and 77% for full-year 2025 vs. 96% in 2024
- A $19.7 million loss was recognized from the termination of NL's U.S. pension plan
Financial Impact
Net loss of $31.0 million in Q4 2025 (vs. $16.5M profit YoY); full-year loss of $37.8M (vs. $67.2M profit). Kronos contributed $25.3M in equity losses in Q4 alone.
Risk Factors
- Continued weakness in TiO2 pricing and demand
- Further production curtailments at Kronos facilities
- Currency volatility (euro exposure)
- Regulatory or environmental liabilities
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3252321 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 26, 2026 21w ago | 8-K | $8.38 $6.44 | ▼ −23.13% | ▼ −25.01% | $6.65 (−20.62%) |
May 14, 2026 23w ago | 8-K | $7.48 $6.40 | ▼ −14.47% | ▼ −18.99% | $6.65 (−11.13%) |
Mar 25, 2026 30w ago | DEFA14A | $5.95 $5.96 | ▲ +0.17% | ▼ −13.78% | $6.65 (+11.76%) |
Mar 9, 2026 33w ago | Press Release | $5.88 $5.99 | ▼ −1.87% | ▲ +9.81% | $6.65 (−13.10%) |
US Market Status
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