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2024-07-02 01:29 News Release E View printer - friendly version NL REPORTS FIRST QUARTER 2021 RESULTS | NL Industries << Back NL REPORTS FIRST QUARTER 2021 RESULTS Dallas , Texas , May 05 , 2021 ( GLOBE NEWSWIRE ) NL Industries , Inc. ( NYSE : NL ) today reported net income attributable to NL stockholders of $ 13.3 million , or $ .27 per share , in the first quarter of 2021 compared to net income attributable to NL stockholders of $ 1.9 million , or $ .04 per share , in the first quarter of 2020. NL results include an unrealized gain of $ 6.4 million in the first quarter of 2021 related to the change in value of marketable equity securities compared to an unrealized loss of $ 12.1 million in the first quarter of 2020 . CompX net sales were $ 35.9 million in the first quarter of 2021 compared to $ 32.3 million in the first quarter of 2020. CompX net sales increased primarily due to higher Marine Component sales to the towboat market and to a lesser extent higher Security Products sales . Marine Components continues to benefit from an overall increase in demand in the recreational marine market which began in late spring 2020. Income from operations attributable to CompX increased to $ 5.8 million in the first quarter of 2021 compared to $ 5.0 million in the first quarter of 2020 due to the higher Marine Components sales as well as lower overall medical expenses , partially offset by higher costs of sales at Security Products . NL recognized equity in earnings of Kronos of $ 6.0 million in the first quarter of 2021 compared to $ 8.2 million in the first quarter of 2020. Kronos ' net sales of $ 465.0 million in the first quarter of 2021 were $ 44.0 million , or 10 % higher than in the first quarter of 2020 primarily due to higher sales volumes partially offset by lower average TiO2 selling prices . Kronos ' TiO2 sales volumes were 3 % higher in the first quarter of 2021 as compared to the first quarter of 2020 primarily due to higher demand in its North American and Latin American markets , partially offset by lower demand in its European market . Kronos ' average TiO2 selling prices were 1 % lower in the first quarter of 2021 as compared to the first quarter of 2020. Kronos ' average TiO2 selling prices at the end of the first quarter of 2021 were 1 % higher than its average TiO2 selling prices at the end of 2020 . Fluctuations in currency exchange rates ( primarily the euro ) also affected net sales comparisons , increasing net sales by approximately $ 20 million in the first quarter of 2021 compared to the first quarter of 2020. The table at the end of this press release shows how each of these items impacted the overall change in Kronos ' net sales . Kronos ' income from operations in the first quarter of 2021 was $ 34.0 million as compared to $ 43.5 million in the first quarter of 2020. Kronos ' income from operations decreased in the first quarter of 2021 compared to the first quarter of 2020 primarily due to lower income from operations resulting from the net effects of fluctuations in currency exchange rates , which decreased income from operations by approximately $ 16 million in the first quarter of 2021 as compared to the first quarter of 2020 , lower average TiO2 selling prices , higher sales volumes and lower production costs . Due to the phase - out of sulfate production at one of Kronos ' facilities in the fourth quarter of 2020 , Kronos ' TiO2 production volumes were 1 % lower in the first quarter of 2021 as compared to the first quarter of 2020. Kronos operated its production facilities at overall average capacity utilization rates of 97 % and 95 % in the first quarters of 2021 and 2020 , respectively . Kronos ' other income ( expense ) in the first quarter of 2020 includes a pre - tax insurance settlement gain of $ 1.5 million ( NL's equity interest was $ .4 million , or $ .01 per share , net of income tax expense ) related to a property damage claim . Corporate expenses decreased $ .7 million in the first quarter of 2021 compared to the first quarter of 2020 primarily due to lower litigation fees and related costs and lower administrative expenses . Interest and dividend income decreased $ .7 million in the first quarter of 2021 compared to the first quarter of 2020 primarily due to lower dividend income and lower interest income related to lower average interest rates on invested balances and lower average interest rates , and to a lesser extent lower average outstanding balances , under CompX's revolving promissory note receivable from Valhi . Marketable equity securities represent the change in unrealized gains ( losses ) on our portfolio of marketable equity securities during the periods . The statements in this release relating to matters that are not historical facts are forward - looking statements that represent management's beliefs and assumptions based on currently available information . Although we believe the expectations reflected in such forward - looking statements are reasonable , we cannot give any assurances that these expectations will prove to be correct . Such statements by their nature involve substantial risks and uncertainties that could significantly impact expected results , and actual future results could differ https://nlindustries.gcs-web.com/news-releases/news-release-details/nl-reports-first-quarter-2021-results 1/4