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Mar 31, 2022
NewMarket Q1 2022 Earnings Report
Reported first quarter results with net income of $59.3 million and EPS of $5.75.
Key Takeaways
NewMarket Corporation reported a decrease in net income for the first quarter of 2022, with $59.3 million compared to $69.7 million in the same period last year. EPS also decreased to $5.75 from $6.38. However, sales for the petroleum additives segment increased to $660.3 million from $564.9 million in the first quarter of 2021.
Net income decreased to $59.3 million, or $5.75 per share.
Petroleum additives sales increased to $660.3 million.
Petroleum additives operating profit was $86.9 million.
Shipments increased 2.3% with growth in lubricant and fuel additives shipments across all regions except Asia Pacific.
Revenue by Segment
Forward Guidance
The company expects continued strength in petroleum additives sales and shipments, anticipating to exceed the market growth rate of 1% to 2%.
Positive Outlook
- Expect continued strength in petroleum additives sales and shipments.
- Anticipate exceeding the petroleum additives market growth rate of 1% to 2%.
- Ongoing investments in supply capability.
- Technology-driven initiatives.
- Fundamentals of business will continue to be beneficial for all stakeholders.
Challenges Ahead
- Increasing raw material and operating costs.
- Worldwide supply chain disruptions.
- Challenges in resolving continuing supply chain issues.
- Pressure on operating margin.
- Need for margin recovery and cost control.
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
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