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Mar 31, 2024
NewMarket Q1 2024 Earnings Report
NewMarket's financial performance was marked by increased net income and earnings per share, driven by strong petroleum additives performance and the acquisition of American Pacific Corporation.
Key Takeaways
NewMarket Corporation reported a net income of $107.7 million, or $11.23 per share, for the first quarter of 2024. The company's petroleum additives business showed strong performance, with shipments up 4.7%. The acquisition of American Pacific Corporation (AMPAC) was completed in January, contributing to the company's new specialty materials segment.
Net income increased to $107.7 million, with earnings per share at $11.23.
Petroleum additives shipments rose by 4.7%, demonstrating growth in lubricant and fuel additives across most regions.
The acquisition of American Pacific Corporation was completed, adding a specialty materials segment to the company.
Operating costs were effectively managed, contributing to a sixth consecutive quarter with petroleum additives operating profit exceeding $100 million.
NewMarket
NewMarket
NewMarket Revenue by Segment
Revenue by Segment
Petroleum Additives Revenue
CapyFin.comSpecialty Materials Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
NewMarket anticipates continued strength in its petroleum additives segment and looks forward to the ongoing integration of AMPAC into the NewMarket family of companies.
Positive Outlook
- Continued strength in the petroleum additives segment.
- Ongoing integration of AMPAC.
- Focus on long-term value for shareholders and customers.
- Commitment to a long-term view.
- Technology-driven product offerings.
Challenges Ahead
- Availability of raw materials and distribution systems.
- Disruptions at production facilities.
- Hazards common to chemical businesses.
- Failure to protect intellectual property rights.
- Sudden, sharp, or prolonged raw material price increases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income