NL Industries (NL) Q4 2025 earnings summary

Executive summary

• Reported net loss attributable to stockholders of $31.0 million ($0.63/share) in Q4 2025, versus net income of $16.5 million ($0.34/share) in Q4 2024.

• Full-year 2025 net loss was $37.8 million ($0.77/share), compared to net income of $67.2 million ($1.38/share) in 2024.

• Results impacted by unrealized losses on marketable equity securities and a $19.7 million loss from U.S. pension plan termination.

• Prior year included $31.4 million income from environmental remediation settlement.

Financial highlights

• Q4 2025 net sales: $37.7 million, down from $38.4 million in Q4 2024; full-year 2025 net sales: $158.3 million, up from $145.9 million in 2024.

• Q4 2025 gross margin: $12.1 million (up from $11.0 million); full-year 2025 gross margin: $48.2 million (up from $41.3 million).

• Q4 2025 income from operations: $2.9 million (down from $33.7 million); full-year 2025: $10.7 million (down from $37.9 million).

• Equity in losses of Kronos: $25.3 million in Q4 2025 vs. $4.0 million in Q4 2024; $33.9 million loss for full-year 2025 vs. $26.4 million earnings in 2024.

• Interest and dividend income declined by $1.7 million in Q4 and $4.0 million for the year.

Segment performance

• CompX Q4 2025 net sales: $37.7 million (down from $38.4 million); full-year: $158.3 million (up from $145.9 million).

• CompX segment profit: $5.6 million in Q4 2025 (up from $4.9 million); $22.6 million for 2025 (up from $17.0 million).

• CompX sales decline in Q4 due to lower Security Products sales to healthcare, offset by higher Marine Components sales.

• Kronos Q4 2025 net sales: $418.3 million (down 1%); full-year: $1.9 billion (down 1%).

• Kronos Q4 2025 loss from operations: $63.1 million vs. income of $28.6 million in Q4 2024; full-year loss from operations: $36.5 million vs. income of $122.9 million in 2024.