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Sep 30, 2024
NewMarket Q3 2024 Earnings Report
NewMarket's Q3 2024 results were released, demonstrating increased net income and operating profit in the petroleum additives segment, alongside the integration of AMPAC.
Key Takeaways
NewMarket Corporation reported a strong third quarter with increased net income of $132.3 million, or $13.79 per share, compared to $111.2 million, or $11.60 per share, for the same period last year. Petroleum additives operating profit increased due to lower raw material and operating costs, while the specialty materials segment, which includes AMPAC, contributed $59.1 million in sales.
Net income for the third quarter of 2024 was $132.3 million, or $13.79 per share.
Petroleum additives sales for the third quarter of 2024 were $663.0 million.
Specialty materials sales were $59.1 million for the third quarter of 2024.
Petroleum additives operating profit for the third quarter of 2024 was $157.5 million.