Kronos Worldwide Expects To Report Net Sales For Q2 Of 2024 In Range Of $495M-$510M Vs $568.02M Est.; Throughout 2023, Kronos Implemented Cost Reduction Initiatives Designed To Improve Its Long-Term Cost Structure; Expects Sales Volumes In 2024 To Exceed 2023 Sales Volumes; Expects To Recognize Non-Cash Charges About $10M In Q2 And About $5M In Q3; Expects Sales Volumes In 2024 To Exceed 2023 Sales Volumes
Portfolio Pulse from Benzinga Newsdesk
Kronos Worldwide expects Q2 2024 net sales to be between $495M and $510M, below the estimated $568.02M. The company has implemented cost reduction initiatives throughout 2023 and expects 2024 sales volumes to exceed those of 2023. Non-cash charges of about $10M in Q2 and $5M in Q3 are anticipated.
July 17, 2024 | 4:33 pm
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Kronos Worldwide's Q2 2024 net sales forecast of $495M-$510M is below the estimated $568.02M, which may negatively impact short-term stock prices. However, cost reduction initiatives and expected higher sales volumes in 2024 could provide long-term benefits.
The lower-than-expected net sales forecast for Q2 2024 is likely to negatively impact KRO's stock price in the short term. However, the company's cost reduction initiatives and expected increase in sales volumes for 2024 could mitigate some of the negative sentiment and provide a positive long-term outlook.
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