NL Industries Q2 net income rises on higher sales
NL Industries Q2 net income rises on higher sales
Overview
US component products and chemicals maker's Q2 net income rose sharply yr/yr
Company cites higher Security Products and Marine Components sales and improved gross margin
Equity earnings from Kronos Worldwide boosted results as Kronos Q2 net sales rose 13% yr/yr
Outlook
Company did not provide specific guidance for the current quarter or full year
Result Drivers
SECURITY PRODUCTS DEMAND - Higher sales in Security Products across healthcare, transportation, tool storage and distributor markets lifted CompX results
GROSS MARGIN IMPROVEMENT - CompX segment profit rose due to higher sales and gross margin, mainly at Security Products
KRONOS EARNINGS - Equity in earnings from Kronos Worldwide improved as Kronos saw higher sales volumes, favorable currency impacts and lower production costs, partly offset by lower average TiO2 selling prices
Company press release: ID:nGNE7QljM5
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| $9.9 mln |
|
Q2 Operating Income |
| $6.1 mln |
|
Q2 Pretax Profit |
| $12.4 mln |
|
Analyst Coverage
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)