Loading...
•
Mar 31, 2020
NewMarket Q1 2020 Earnings Report
Reported strong first quarter results with increased net income and earnings per share.
Key Takeaways
NewMarket Corporation reported a strong first quarter with net income increasing to $85.5 million, or $7.67 per share, compared to $62.2 million, or $5.57 per share, for the same period last year. Sales for the petroleum additives segment rose by 4.6% to $557.4 million, and the company repurchased 252,383 shares of its common stock for $94.3 million.
Net income increased to $85.5 million, or $7.67 per share.
Petroleum additives sales grew by 4.6% to $557.4 million.
Petroleum additives operating profit increased to $113.7 million.
252,383 shares of common stock were repurchased for $94.3 million.
Revenue by Segment
Forward Guidance
The company anticipates operations for the remainder of the year will be impacted by the current economic environment, and they expect to see a sizeable decline in shipments in the second quarter of 2020.
Positive Outlook
- Encouraged by recovery seen in China business.
- Expect the rest of the global market will also begin to recover when government restrictions are eased.
- All global operations, manufacturing plants and research and development centers will continue to be operational.
- The chemical industry and our products are recognized as essential for the transportation of goods and services.
- Will continue to focus on long-term objectives and will remain well-positioned for the future with a strong balance sheet and conservative fiscal policy.
Challenges Ahead
- Expecting operations to be impacted by the current economic environment.
- Experiencing a short-term decrease in demand for lubricant and fuel additives due to the economic downturn.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...