NL Industries, Inc. reported a net loss of $31.0 million, or $0.63 per share, for the fourth quarter of 2025, a reversal from the $16.5 million profit and $0.34 per share earned in the same period a year earlier. The company’s earnings fell short of the consensus estimate of $0.25 per share, underscoring the impact of one‑time charges and investment losses on the bottom line.
The loss was driven primarily by a $25.3 million equity loss from its investment in Kronos Worldwide, a $19.7 million charge related to the termination of the U.S. pension plan, and a $4.5 million unrealized loss on marketable equity securities. These items, combined with ongoing operating losses in Kronos’s titanium dioxide business, pushed the company into a quarterly loss.
On a full‑year basis, NL Industries posted a net loss of $37.8 million, or $0.77 per share, compared with a $67.2 million profit and $1.38 per share in 2024. The full‑year reversal mirrors the quarterly drivers: the pension termination charge, the Kronos equity loss, and the cumulative unrealized loss of $13.6 million on marketable securities for 2025.
CompX International, NL’s majority‑owned subsidiary, reported net sales of $37.7 million for the quarter, slightly down from $38.4 million a year earlier. Despite the sales dip, segment profit rose to $5.6 million from $4.9 million, as gains in marine components sales offset a decline in security‑products sales to the healthcare market.
NL Industries is controlled by Valhi, Inc., which holds approximately 82.7 % of the company’s shares. The pension charge is a one‑time event that will not recur, but the ongoing losses in Kronos Worldwide remain a significant risk to the company’s future profitability. Investors will likely reassess the long‑term outlook in light of these developments.
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