$VHI reports decline in net income for Q4 and Full year 2022
Mar 9th 2023, 9:18 pm
Analyst Summary: Valhi, Inc. reported a decline in net income attributable to its stockholders in the fourth quarter and full year of 2022 compared to the same periods in 2021 primarily due to lower operating results from its Chemicals Segment and Real Estate Management and Development Segment. The TiO2 segment's net sales comparisons in both periods were impacted by lower sales volumes in all markets, partially offset by higher average selling prices. Weakening customer demand in its European and export markets in the fourth quarter and full year of 2022 impacted TiO2 sales volumes. On the other hand, the component products segment's net sales increased in fourth quarter and full year of 2022 mainly due to higher marine components sales. Real Estate Management and Development Segment sales of land held for development decreased in the same periods due to the relative timing of when new land parcel sales are closed. Quotes: “Overall, our operating results in the fourth quarter and full year of 2022 were impacted by a variety of factors including lower sales volumes, higher input cost inflation, higher energy costs, and operational impacts in our Chemicals Segment related to inventories and curtailments related to weaker demand from certain markets,” said Robert M. Patterson, Chairman, and Chief Executive Officer. Forward-Looking Statement: While the company believes the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurances that these expectations will be correct. Valhi continues to face many risks and uncertainties, and should one or more of these risks materialize, actual results could differ materially from those currently forecasted or expected.