Filing Flows › Valhi (VHI) › Q1 2025
Valhi (VHI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Valhi (VHI) reported revenue of $539M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +12% from the quarter before. Operating margin was 9.3%, net earnings $16.9M (3.1% of revenue).
Valhi, Q1 2025: revenue $539M (+2% year over year), operating margin 9.3%, net earnings $16.9M, operating cash flow −$156M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $539M | +12% | +2% |
| Gross profit | $122M | +22% | +42% |
| Operating profit | $50.1M | -12% | +59% |
| Net earnings | $16.9M | -26% | +117% |
| Operating cash flow | −$156M | — | — |
What changed
Revenue was $538.6M in Q1 2025, up 2% year over year and up 12% from the previous quarter. Chemicals was the largest line at 91% of revenue. Chemicals added $11.0M year over year (up 2%), 138% of the total change. Real estate management and development declined 38%.
Gross margin was 22.7%, up 6.5 points from a year earlier. Operating profit was $50.1M, a 9.3% margin (up 3.4 points year over year). Of the extra revenue versus a year earlier, 233% reached operating profit, above the 6% margin then. Operating expenses grew 32% against revenue growth of 2%. Net earnings were $16.9M, up 117% year over year. The effective tax rate was 26.0%.
Operating cash flow was −$155.9M. Non-cash charges added back $15.4M of depreciation and amortization. Working capital and other items used $194.1M. Capital expenditures of $12.8M exceeded it, leaving free cash flow of −$168.7M.
Questions
What was Valhi's revenue in the first quarter 2025?
Valhi (VHI) reported revenue of $539M for the first quarter 2025 (Q1 2025), +2% from a year earlier and +12% from the quarter before.
Was Valhi profitable in the first quarter 2025?
Operating profit was $50.1M (9.3% of revenue) and net earnings $16.9M.
Source: Valhi 10-Q on SEC EDGAR.