VHI — what changed in the latest 10-Q
A section-by-section comparison of VHI's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-06 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +70 | −49 | ~47 | 62 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 4 |
| Legal proceedings | Text added/removed | +1 | −2 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-06
●income of $.10 per share related to the gain on the sale of an office building within our Real Estate Management and Development Segment.
Our diluted net income per share in the second quarter of 2025 includes income of $.31 per share related to tax increment infrastructure reimbursement.
Six Months Ended June 30, 2026 Compared to the Six Months Ended June 30, 2025 –
We reported net income attributable to Valhi stockholders of $24.3 million, or $.85 per diluted share, in the first six months of 2026 compared to net income attributable to Valhi stockholders of $17.8 million, or $.62 per diluted share, in the first six months of 2025. Our net income attributable t…
●higher operating income from our Real Estate Management and Development Segment of $29.7 million in 2026 compared to operating income of $21.9 million in 2025;
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Current Industry Conditions – Our Chemicals Segment started 2026 with average TiO2 selling prices lower than at the beginning of 2025; however, its average TiO2 selling prices increased 2% during the first quarter of 2026. Our Chemicals Segment’s average TiO2 selling prices in the first quarter of 2…
Our Chemicals Segment’s sales volumes increased 4% in the first quarter of 2026 as compared to the first quarter of 2025 primarily due to higher sales volumes in our Chemicals Segment’s North American, Latin American and export markets partially offset by lower sales volumes in the European market. …
Cost of Sales and Gross Margin – Our Chemicals Segment’s cost of sales increased by $43.6 million, or 11%, in the first quarter of 2026 compared to the first quarter of 2025 due to the effects of a 4% increase in sales volumes and the unfavorable impact from changes in currency exchange rates, parti…
Our Chemicals Segment’s cost of sales as a percentage of net sales increased to 84% in the first quarter of 2026 compared to 78% in the same period of 2025, as the unfavorable impact of lower average TiO2 selling prices more than offset the favorable effects of lower production costs.
Gross margin as a percentage of net sales decreased to 16% in the first quarter of 2026 compared to 22% in the first quarter of 2025. As discussed and quantified above, our Chemicals Segment’s gross margin as a percentage of net sales decreased primarily due to the net effects of higher sales volume…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-08-06
California Department of Toxic Substances v. NL Industries, Inc. In July 2026, the trial court set the amount of past costs recoverable under CERCLA at $27.5 million but did not allocate that amount among the defendants. NLI has denied liability and will continue to defend vigorously against all cla…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
In March 2026, NL and several other defendants were served with a complaint in City of Columbus v. NL Industries, Inc., (Franklin County, Ohio Court of Common Pleas, Case No. 26 CV 002355), which was subsequently removed to federal court (United States District Court for the Southern District of Ohi…
South Carolina Public Water Company PFAS Litigation. In April 2026, CompX filed answers denying liability in all four pending PFAS cases. CompX intends to defend vigorously against all claims.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice