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NL Industries (NL) investor relations material
NL Industries Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported a net loss attributable to stockholders of $7.8 million ($0.16/share) for Q3 2025, compared to net income of $36.0 million ($0.74/share) in Q3 2024, mainly due to equity losses in Kronos and unrealized losses on marketable securities.
For the first nine months of 2025, net loss attributable to stockholders was $6.8 million ($0.14/share), down from net income of $50.7 million ($1.04/share) in the same period of 2024.
Results were impacted by significant equity losses from Kronos and lower dividends.
Financial highlights
Q3 2025 net sales rose to $39.95 million from $33.67 million in Q3 2024; nine-month sales increased to $120.6 million from $107.5 million.
CompX segment profit grew 42% in Q3 2025 to $4.8 million and 40% for the nine months to $17.0 million.
Kronos reported equity losses of $11.3 million in Q3 2025 versus $21.9 million in earnings in Q3 2024; nine-month equity losses were $8.6 million versus $30.4 million in earnings.
Recognized an unrealized loss of $0.5 million on marketable equity securities in Q3 2025, compared to an $18.6 million gain in Q3 2024.
Interest and dividend income decreased to $2.1 million in Q3 2025 from $2.7 million in Q3 2024, with corporate expenses rising due to higher litigation fees.
Outlook and guidance
CompX expects Security Products sales to improve in 2025, mainly from government security markets, but softness in transportation and tool storage markets will partially offset gains.
Marine Components sales are expected to increase, driven by government and industrial demand and a one-time stocking event.
Kronos anticipates continued weak demand and lower operating rates in Q4 2025, with full-year results expected to be below 2024 due to pricing pressure and lower fixed cost absorption.
Management highlighted ongoing global uncertainty, trade policy impacts, and customer hesitancy to build inventories, prolonging the market downturn for TiO2.
Kronos is implementing cost reduction initiatives and expects to benefit from recent industry capacity reductions and anti-dumping duties in 2026.
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- TTMI
Q4 and FY 2025 saw 19% revenue growth, record EPS, and strong AI-driven demand. - ATEN
Record 2025 results and 10–12% growth outlook, led by security and AI demand. - WOLF
Q4 revenue was $201M, with strong EV growth and Mohawk Valley Fab ramping up. - WOLF
Q1 revenue flat, deep losses, major restructuring, and $2.5B in new funding secured. - RAL
Q4 revenue rose 1% to $555M, with strong cash flow and a $1.4B goodwill impairment. - FMC
Revenue and profit fell sharply in 2025, with further declines expected in 2026. - LTRX
Q2 revenue $29.8M, non-GAAP EPS $0.04, drone revenue guidance raised, cash at $23M. - AFL
Net earnings dropped, but adjusted EPS and U.S. sales grew; $800M in share repurchases. - CFLT
Stockholders will vote on the IBM merger amid litigation and enhanced disclosures. - GEOS
Revenue fell 31% and a net loss of $9.8 million was reported amid broad market headwinds.
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