-- Our ability to utilize income tax attributes, the benefits of which may
or may not have been recognized under the more-likely-than-not
recognition criteria;
-- Environmental matters (such as those requiring compliance with emission
and discharge standards for existing and new facilities, or new
developments regarding environmental remediation or decommissioning
obligations at sites related to our former operations);
-- Government laws and regulations and possible changes therein (such as
changes in government regulations which might impose various obligations
on former manufacturers of lead pigment and lead-based paint, including
NL, with respect to asserted health concerns associated with the use of
such products) including new environmental, health, safety,
sustainability or other regulations (such as those seeking to limit or
classify TiO2 or its use);
-- The ultimate resolution of pending litigation (such as NL's lead pigment
and environmental matters);
-- Our ability to comply with covenants contained in our revolving bank
credit facilities;
-- Our ability to complete and comply with the conditions of our licenses
and permits;
-- Changes in real estate values and construction costs in Henderson,
Nevada; and
-- Pending or possible future litigation or other actions.
Should one or more of these risks materialize (or the consequences of such development worsen), or should the underlying assumptions prove incorrect, actual results could differ materially from those currently forecasted or expected. We disclaim any intention or obligation to update or revise any forward-looking statement whether as a result of changes in information, future events or otherwise.
Valhi, Inc. is engaged in the chemicals (TiO(2) ), component products (security products and recreational marine components) and real estate management and development industries.
*****
Investor Relations Contact
Bryan A. Hanley
Senior Vice President and Treasurer
Tel. 972-233-1700
VALHI, INC. AND SUBSIDIARIES
CONDENSED SUMMARY OF OPERATIONS
(In millions, except earnings per share)
Three months ended
March 31,
2023 2024
(unaudited)
Net sales
Chemicals $ 426.3 $ 478.8
Component products 41.2 38.0
Real estate management and development 25.2 13.8
Total net sales $ 492.7 $ 530.6
Operating income (loss)
Chemicals $ (15.1) $ 22.8
Component products 7.0 3.7
Real estate management and development 10.6 5.0
Total operating income 2.5 31.5
General corporate items:
Interest income and other 4.9 5.7
Other components of net periodic pension and
OPEB expense (1.2) (.6)
Changes in market value of Valhi common stock
held by subsidiaries (1.1) .5
General expenses, net (7.9) (7.8)
Interest expense (7.0) (11.3)
Income (loss) before income taxes (9.8) 18.0
Income tax expense (benefit) (6.1) 4.4
Net income (loss) (3.7) 13.6
Noncontrolling interest in net income of
subsidiaries 1.2 5.8
Net income (loss) attributable to Valhi
stockholders $ (4.9) $ 7.8
Amounts attributable to Valhi stockholders:
Basic and diluted net income (loss) per share $ (.17) $ .27
Basic and diluted weighted average shares
outstanding 28.5 28.5
VALHI, INC. AND SUBSIDIARIES
IMPACT OF PERCENTAGE CHANGE IN CHEMICAL SEGMENT'S NET SALES
(unaudited)
Three months ended
March 31,
2024 vs. 2023
Percentage change in TiO(2) net sales:
TiO(2) sales volumes 28%
TiO(2) product pricing (11)
TiO(2) product mix/other (6)
Changes in currency exchange rates 1
Total 12%
(END) Dow Jones Newswires
May 09, 2024 16:18 ET (20:18 GMT)
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