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Jun 30, 2022
NewMarket Q2 2022 Earnings Report
Reported second quarter results with increased net income and earnings per share.
Key Takeaways
NewMarket Corporation reported a net income of $66.5 million and earnings per share of $6.54 for the second quarter of 2022, compared to a net income of $52.0 million and earnings per share of $4.75 for the second quarter of 2021. Sales for the petroleum additives segment increased to $721.0 million, with an operating profit of $91.2 million.
Second quarter net income reached $66.5 million, with earnings per share at $6.54.
Petroleum additives sales for the second quarter were $721.0 million, up from $586.6 million in the prior year.
Petroleum additives operating profit for the second quarter was $91.2 million, compared to $74.2 million for the same period last year.
Focus remains on margin recovery and cost control amidst the ongoing inflationary environment.
NewMarket
NewMarket
NewMarket Revenue by Segment
Revenue by Segment
Petroleum Additives Revenue
CapyFin.com Forward Guidance
The company expects the petroleum additives market to grow at 1% to 2% for the foreseeable future and expects to exceed that growth rate.
Positive Outlook
- Ongoing investments in supply capability.
- Technology-driven initiatives.
- Long-term view.
- Safety-first culture.
- Customer-focused solutions.
Challenges Ahead
- Worldwide supply chain disruptions continue to negatively impact our business.
- Ongoing inflationary environment.
- Availability of raw materials and distribution systems.
- Hazards common to chemical businesses.
- Failure to protect our intellectual property rights.