Newmarket Stock Price, News & Analysis

NewMarket Corporation (NYSE: NEU) announced the retirement of Regina Anne Harm from her role as President of Afton Chemical Corporation, effective December 31, 2022. Mrs. Harm has been with Afton for over 15 years, leading the company through significant challenges. Brian D. Paliotti, previously CFO, will succeed her as President starting January 1, 2023. CEO Teddy Gottwald expressed confidence in Paliotti's leadership, emphasizing his experience and focus on cost-savings and team development. This management change aims to continue Afton's growth and adaptability.

NewMarket Corporation (NYSE: NEU) has declared a quarterly dividend of $2.10 per share, payable on January 3, 2023, to shareholders on record as of December 15, 2022. The company, through its subsidiaries Afton Chemical and Ethyl Corporation, specializes in manufacturing chemical additives that improve petroleum product performance. Although management has reasonable expectations of future performance, various risks such as raw material availability, production disruptions, and regulatory changes could impact actual results significantly.

NewMarket Corporation (NYSE:NEU) reported a third-quarter net income of $63.2 million or $6.32 per share, up from $52.0 million and $4.80 per share in Q3 2021. For the first nine months of 2022, net income reached $189.0 million, a rise from $173.7 million last year. Petroleum additives sales were $692.7 million in Q3 and $2.1 billion year-to-date, reflecting an increase from 2021. Despite higher sales, operating margins declined to 12.6% due to inflation and supply chain disruptions. Share repurchases totaled 499,275 shares for $155.2 million during the period.

NewMarket Corporation (NYSE: NEU) will release its third quarter 2022 earnings after market close on October 24, 2022. The earnings will be accessible on the company’s website the next day. A conference call for discussing these results is set for 3:00 pm EDT on October 25, 2022, available via telephone and streamed online. NewMarket, through its subsidiaries, specializes in developing chemical additives to enhance petroleum products, contributing to improved engine performance, longevity of machinery, and cleaner burning fuels.

NewMarket Corporation (NYSE: NEU) has declared a quarterly dividend of $2.10 per share, payable on October 3, 2022, to shareholders of record by September 15, 2022. This announcement reflects the company's ongoing commitment to providing shareholder returns. NewMarket, through its subsidiaries Afton Chemical and Ethyl Corporation, focuses on developing chemical additives that enhance petroleum product performance. Forward-looking statements highlight potential risks including raw material prices, regulatory changes, and competition.

NewMarket Corporation (NYSE:NEU) reported a robust second quarter of 2022, with net income rising to $66.5 million compared to $52.0 million in Q2 2021. Earnings per share climbed to $6.54. For the first half, net income reached $125.8 million, marking a slight increase from $121.7 million year-over-year. Sales in the petroleum additives segment hit a record $1.4 billion, up 20% from the previous year. Despite increased profits, the company highlighted ongoing challenges from inflation and supply chain disruptions, emphasizing cost control and margin recovery as priorities.

Afton Chemical Corporation has completed a $70 million investment in its Sauget, IL plant to enhance Automatic Transmission Fluid (ATF) additive production. This expansion aims to meet the rising demand for electric vehicle (EV) fluids, including hybrid and battery electric vehicles. The company has invested over $500 million globally since 2016 to improve its manufacturing capabilities. The Sauget facility, operational since 1975, is recognized for its high manufacturing standards.

NewMarket Corporation (NYSE: NEU) will release its second quarter 2022 earnings on August 2, 2022, after market close. Following this, the company will host a conference call on August 3, 2022, at 3:00 pm EDT, to discuss the financial results. Investors can access the announcement on the company's website, www.NewMarket.com, and listen to the live call or its replay through the same platform. NewMarket, through its subsidiaries, specializes in manufacturing chemical additives for petroleum products.