Loading...
•
Dec 31, 2023
NewMarket Q4 2023 Earnings Report
NewMarket's fourth quarter 2023 results were released, showing a decrease in net income compared to the same period in 2022.
Key Takeaways
NewMarket Corporation reported a net income of $80.4 million for Q4 2023, a decrease compared to $90.5 million in Q4 2022. Petroleum additives sales also decreased to $642.0 million from $680.3 million in the same period last year. The company highlighted its focus on managing operating costs and inventory levels, while continuing to invest in technology.
Q4 2023 net income was $80.4 million, or $8.38 per share, compared to $90.5 million, or $9.26 per share, for Q4 2022.
Petroleum additives sales for Q4 2023 were $642.0 million, down from $680.3 million in Q4 2022.
Petroleum additives operating profit for Q4 2023 was $110.4 million, compared to $117.1 million for the same period in 2022.
The company acquired American Pacific Corporation (AMPAC) in January 2024 for approximately $700 million.
Revenue by Segment
Forward Guidance
NewMarket anticipates continued strength in its petroleum additives segment and looks forward to the integration of AMPAC. The company remains focused on long-term objectives and believes its business fundamentals will continue to benefit all stakeholders.
Positive Outlook
- Continued strength in petroleum additives segment anticipated.
- Looking forward to the integration of AMPAC.
- Making decisions to promote long-term value for shareholders and customers.
- Remaining focused on long-term objectives.
- Believes business fundamentals will continue to be beneficial for all stakeholders.
Challenges Ahead
- Availability of raw materials and distribution systems.
- Disruptions at production facilities, including single-sourced facilities.
- Hazards common to chemical businesses.
- Ability to respond effectively to technological changes in our industry.
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...