HOUSTON (ICIS)--Kronos Worldwide’s Q3 net income slumped by 56% year on year, mostly because of weaker sales.
The following table summarises Kronos’ Q3 performance. Figures are in millions of dollars.
| Q3 2018 | Q3 2017 | Change (%) | |
| Net income | 32.6 | 73.8 | -55.8 |
| Net sales | 410.3 | 464.5 | -11.7 |
| Cost of sales | 291.2 | 309.5 | -5.9 |
| Gross margins | 119.1 | 155.0 | -23.2 |
Kronos’ Q3 income from operations fell to $58.1m from $96.1m during the same last year on lower sales and production volumes, as well as higher raw material and other production costs.
These factors more than offset the favourable impact of higher average selling prices, Kronos said.
The following table details Kronos’ titanium dioxide (TiO2) segment. Profits are in millions of dollars, and volumes are in thousands of tonnes.
| Q3 2018 | Q3 2017 | Change (%) | |
| Segment profit | 61.7 | 99.5 | -38.0 |
| Sales volumes | 123 | 150 | -18.0 |
| Production volumes | 131 | 141 | -7.1 |
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