Despite Ugly Results Oppenheimer Maintains Outperform on Kronos (KRO), Slashes Price Target
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Kronos (KRO) Issues Q3 Warning; Sees Lower Sales Volume
October 2, 2012 7:17 AM EDTKronos Worldwide, Inc. (NYSE: KRO) announced it is exploring the possibility of opportunistically accessing the debt capital markets and that it expects to report net sales for the third quarter of 2012 of between $480 million to $495 million compared to net sales of $548.0 million as reported in the third quarter of 2011.
*** The Street is modeling sales of $521.4 million.
The expected decrease in net sales is due primarily to lower sales volumes, offset in part by higher average TiO2 selling prices. The Company also expects to report segment profit in the third quarter of 2012 of between $35 million to $40 million,... More
