Innospec Q3 earnings rise to $31.8M; revenue up 7%
Innospec expected to commission North Carolina efficiency upgrades by year-end, with capacity, productivity and yields expected to increase.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Innospec Inc. (IOSP) reported third-quarter 2026 revenue of $473.6 million, up 7% from $441.9 million a year earlier. Net income attributable to Innospec was $31.8 million, compared with $12.9 million, and diluted EPS was $1.29 versus $0.52. Adjusted non-GAAP EPS was $1.29 versus $1.12, while adjusted EBITDA was $51.4 million versus $44.2 million.
Performance Chemicals operating income increased 84% to $16.9 million; Oilfield Services operating income increased 40% to $6.7 million, while Fuel Specialties operating income was $35.6 million, up 1%. Cash provided by operating activities was $17.4 million, compared with $39.1 million a year earlier, before $15.6 million of capital expenditures. As of September 30, 2026, Innospec had $251.9 million in cash and cash equivalents and no debt. The board declared a $0.94 semi-annual dividend payable November 25, 2026, to shareholders of record as of November 17, 2026; the annual dividend is $1.86 per share, 9% above 2025.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointRevenue increased 7% to $473.6 million year over year.
- Moderate pointNet income attributable to Innospec reached $31.8 million, versus $12.9 million.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Annual dividend increased 9% to $1.86 per share.
- Minor pointPerformance Chemicals operating income increased 84% to $16.9 million.
Negative
- Moderate pointQuarterly cash provided by operating activities was $17.4 million, versus $39.1 million a year earlier.
Filing Explained
The release adds a nine-month cash-flow picture: operating cash flow was lower than a year earlier, working-capital changes used cash, and cash declined over the nine months.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
Adjusted non-GAAP EPS financial
contingent consideration financial
Non-GAAP financial measures financial
Earnings Snapshot
Innospec expected to commission its North Carolina plant-efficiency upgrades by year-end and expected sequential operating income growth in Oilfield Services in the fourth quarter.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were IOSP's Q3 2026 revenue and earnings?
When will IOSP pay its second-half 2026 dividend?
How did IOSP's business segments perform in Q3 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
||
|
|
|
|
|
|
||||
|
||||
(Address of Principal Executive Offices) |
|
(Zip Code) |
||
Registrant’s Telephone Number, Including Area Code: |
|
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
|
|
Trading |
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 3, 2026, Innospec Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended September 30, 2026 (the “Press Release”).
Item 7.01 Regulation FD Disclosure
Dividend Declaration
The Company also announced in the Press Release that on November 3, 2026, the Company’s Board of Directors declared a semi-annual cash dividend of $0.94 per share on the Company’s Common Stock, par value $0.01 per share (“Common Stock”). The dividend will be paid on November 25, 2026 to shareholders of record as of November 17, 2026.
The information under this Item 2.02, Item 7.01 and in Exhibit 99.1 hereto is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section. The information under this Item 2.02, Item 7.01 and Exhibit 99.1 hereto shall not be deemed incorporated by reference into any registration statement or other document pursuant to the Securities Act, unless otherwise expressly indicated in such registration statement or other document.
Item 9.01 Financial Statements and Exhibits.
Number |
|
Description |
|
Method of Filing |
|
|
|
||
99.1 |
|
Press Release dated November 3, 2026 announcing Innospec Inc.’s financial results for the quarter ended September 30, 2026. |
|
Filed Herewith |
|
|
|
||
104 |
|
Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document. |
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
Date: |
November 3, 2026 |
By: |
/s/ David B. Jones |
|
|
|
David B. Jones |
Innospec REPORTS THIRD QUARTER 2026 FINANCIAL RESULTS
All businesses contributed to revenue and operating income growth
Continued strength in Fuel Specialties; Double-digit operating income growth in Performance Chemicals and Oilfield Services
Cash flow of $17.4 million generated from operations; Net cash improved to $251.9 million
GAAP EPS $1.29 and adjusted non-GAAP EPS $1.29
Semi-annual dividend of 94 cents; Annual dividend increased by 9 percent
Englewood, CO – November 3, 2026 – Innospec Inc. (NASDAQ: IOSP) today announced its financial results for the third quarter ended September 30, 2026 and declared a semi-annual dividend of 94 cents per common share for the second half of 2026, which will be paid on November 25, 2026 to shareholders of record as of November 17, 2026. This brings the annual dividend to $1.86 per share, a 9 percent increase over 2025.
Total revenues for the third quarter were $473.6 million, an increase of 7 percent from $441.9 million in the corresponding period last year. Net income attributable to Innospec for the quarter was $31.8 million or $1.29 per diluted share, compared to $12.9 million or 52 cents per diluted share recorded last year.
Adjusted EBITDA for the quarter was $51.4 million compared to $44.2 million reported in the same period a year ago. Innospec generated cash from operating activities of $17.4 million, before capital expenditures of $15.6 million in the quarter. The quarter closed with net cash of $251.9 million.
Results for this quarter include some special items, which are summarized in the table below. Excluding these items, adjusted non-GAAP EPS in the third quarter was $1.29 per diluted share, compared to $1.12 per diluted share a year ago.
Adjusted EBITDA and net income attributable to Innospec excluding special items and related per-share amounts together with net cash, are non-GAAP financial measures that are defined and reconciled with GAAP results herein and in the schedules below.
|
|
Quarter ended September 30, 2026 |
Quarter ended September 30, 2025 |
||||||
|
|
|
|
|
|
|
|
|
|
(in millions, except share and per share data) |
|
Net income attributable to Innospec |
|
Diluted EPS |
|
Net income attributable to Innospec |
|
Diluted EPS |
|
|
|
|
|
|
|
|
|
|
|
Reported GAAP amounts |
$ |
31.8 |
$ |
1.29 |
$ |
12.9 |
$ |
0.52 |
|
|
|
|
|
|
|
|
|
|
|
Adjustment to fair value of contingent consideration |
|
(1.1) |
|
(0.04) |
|
(17.7) |
|
(0.71) |
|
Amortization of acquired intangible assets |
|
0.8 |
|
0.03 |
|
1.7 |
|
0.07 |
|
Legacy costs of closed operations |
|
0.7 |
|
0.03 |
|
0.8 |
|
0.03 |
|
Foreign currency exchange gains |
|
(0.4) |
|
(0.02) |
|
(2.4) |
|
(0.10) |
|
Impairment of property, plant and equipment |
|
- |
|
- |
|
18.1 |
|
0.73 |
|
Impairment of intangible assets |
|
- |
|
- |
|
14.0 |
|
0.56 |
|
Restructuring charge |
|
- |
|
- |
|
0.6 |
|
0.02 |
|
|
|
0.0 |
|
0.0 |
|
15.1 |
|
0.60 |
|
|
|
|
|
|
|
|
|
Adjusted non-GAAP amounts |
$ |
31.8 |
$ |
1.29 |
$ |
28.0 |
$ |
1.12 |
Commenting on the third quarter results, Patrick S. Williams, President and Chief Executive Officer, said,
“This was another good quarter for Innospec with all businesses contributing to solid revenue and strong operating income growth.
Performance Chemicals sales growth and margin improvement drove an 84 percent operating income increase over last year. In North Carolina, we expect to commission our recent plant efficiency upgrades by year-end. These upgrades are expected to increase capacity, productivity and yields on a wide range of personal care and other products. As utilization of this new capacity improves and progress on new products continues, we expect further growth and margin improvement in the coming quarters.
Fuel Specialties had another strong quarter delivering revenue growth and steady operating income with margins that remained within our target range. As expected, the business has continued to deliver consistent results.
Oilfield Services operating income grew 40 percent and operating margins improved, driven by our recent DRA plant expansion. While sequential results were lower than expected on continued activity delays in our legacy Middle East business and elevated raw material costs, we are expecting improvement across several of these areas to drive sequential operating income growth in the fourth quarter.”
Revenues in Performance Chemicals of $180.5 million were up 6 percent from $170.8 million in the third quarter of last year. Volume reductions of 5 percent and a negative currency impact of 1 percent were offset by a positive price and product mix of 12 percent. Gross margins of 18.8 percent increased by 3.7 percentage points from the same quarter last year. Operating income of $16.9 million increased 84 percent from $9.2 million in the prior year period.
Revenues in Fuel Specialties of $180.7 million were up 5 percent from $172.0 million in the third quarter of last year. Volumes were up 3 percent and the price and product mix up 2 percent. Gross margins of 35.1 percent decreased by 0.5 percentage points over last year. Operating income of $35.6 million was up 1 percent from $35.3 million a year ago.
Revenues in Oilfield Services of $112.4 million for the quarter were up 13 percent from $99.1 million in the third quarter of last year. Gross margins of 28.2 percent decreased by 1.8 percentage points from the same quarter last year on a weaker sales mix. Operating income of $6.7 million increased 40 percent from $4.8 million in the prior year period.
Corporate costs for the quarter were $18.6 million, compared with $18.2 million a year ago. The adjusted effective tax rate for the quarter was 24.7 percent compared to 22.7 percent in the same period last year, due to the geographical mix of taxable profits.
For the quarter, cash provided by operating activities was $17.4 million compared to $39.1 million a year ago. As of September 30, 2026, Innospec had $251.9 million in cash and cash equivalents and no debt.
Mr. Williams concluded,
“Again this quarter Innospec delivered solid sales and strong operating income growth with higher margins. We remain focused on significant opportunities for continued growth and margin improvement across all our businesses and in particular Performance Chemicals and Oilfield Services.
Operating cash generation was positive in the quarter, and our net cash position remained at over $250 million. We continue to focus on driving increased operating cash flow in the coming quarters with better working capital efficiency. We have significant balance sheet flexibility for organic investment, M&A, dividend growth, and buybacks. This quarter our Board approved a further increase in our semi-annual dividend to 94 cents per share resulting in an annual dividend increase of 9 percent.”
Use of Non-GAAP Financial Measures
The information presented in this press release includes financial measures that are not calculated or presented in accordance with Generally Accepted Accounting Principles in the United States (GAAP). These non-GAAP financial measures comprise adjusted EBITDA, net income attributable to Innospec excluding special items and related per share amounts together with net cash. Adjusted EBITDA is net income attributable to Innospec per our consolidated financial statements adjusted for the exclusion of interest income, net, income taxes, depreciation and amortization, foreign currency exchange (gains)/losses, legacy costs of closed operations, adjustment to fair value of contingent consideration, restructuring charge, impairment of property, plant and equipment and impairment of intangible assets. Net income attributable to Innospec and diluted EPS, excluding special items, per our consolidated financial statements are adjusted for the exclusion of adjustment to fair value of contingent consideration, amortization of acquired intangible assets, legacy costs of closed operations, foreign currency exchange gains, impairment of property, plant and equipment, impairment of intangible assets and restructuring charge. Net cash is cash and cash equivalents less total debt. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided herein and in the schedules below.
The Company believes that such non-GAAP financial measures provide useful information to investors and may assist them in evaluating the Company’s underlying performance and identifying operating trends. In addition, these non-GAAP measures address questions the Company routinely receives from analysts and investors and the Company has determined that it is appropriate to make this data available to all investors. While the Company believes that such measures are useful in evaluating the Company’s performance, investors should not consider them to be a substitute for financial measures prepared in accordance with GAAP. In addition, these non-GAAP financial measures may differ from similarly titled non-GAAP financial measures used by other companies and do not provide a comparable view of the Company’s performance relative to other companies in similar industries. Management uses adjusted EPS (the most directly comparable GAAP financial measure for which is GAAP EPS) and net income attributable to Innospec excluding special items and adjusted EBITDA (the most directly comparable GAAP financial measure for which is GAAP net income attributable to Innospec) to allocate resources and evaluate the performance of the Company’s operations and has provided a reconciliation of adjusted EBITDA and net income attributable to Innospec excluding special items, and related per share amounts, to GAAP net income attributable to Innospec herein and in the schedules below.
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company with approximately 2,450 employees in 22 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil and gas exploration and production industry.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Such forward-looking statements include statements (covered by words like “expects,” “estimates,” “anticipates,” “may,” “could,” “believes,” “feels,” “plans,” “intends,” “outlook” or similar words or expressions, for example) which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future. Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, and our actual performance or results may differ materially from these forward-looking statements. Additional information regarding risks, uncertainties and assumptions relating to Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2025, Innospec’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and other reports filed with the U.S. Securities and Exchange Commission. You are urged to review our discussion of risks and uncertainties
that could cause actual results to differ from forward-looking statements under the heading "Risk Factors” in such reports. Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Corbin Barnes
Innospec Inc.
+44-151-355-3611
corbin.barnes@innospecinc.com
INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Schedule 1
(in millions, except share and per share data) |
|
Three Months Ended September 30 |
|
Nine Months Ended September 30 |
|||||
2026 |
|
2025 |
|
2026 |
|
2025 |
|||
|
|
|
|
|
|
|
|
|
|
Net sales |
$ |
473.6 |
$ |
441.9 |
$ |
1,418.2 |
$ |
1,322.4 |
|
Cost of goods sold |
|
(344.5) |
|
(325.2) |
|
(1,027.3) |
|
(957.4) |
|
Gross profit |
|
129.1 |
|
116.7 |
|
390.9 |
|
365.0 |
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
(71.7) |
|
(71.9) |
|
(234.5) |
|
(215.8) |
|
Research and development |
|
(16.8) |
|
(13.7) |
|
(44.2) |
|
(40.0) |
|
Adjustment to fair value of contingent consideration |
|
1.1 |
|
17.7 |
|
5.7 |
|
16.2 |
|
Restructuring charge |
|
- |
|
(0.9) |
|
- |
|
(0.9) |
|
Impairment of property, plant and equipment |
|
- |
|
(22.9) |
|
- |
|
(22.9) |
|
Impairment of intangible assets |
|
- |
|
(19.1) |
|
- |
|
(19.1) |
|
Profit on disposal of property, plant and equipment |
|
- |
|
- |
|
- |
|
0.2 |
|
Total operating expenses |
|
(87.4) |
|
(110.8) |
|
(273.0) |
|
(282.3) |
|
Operating income |
|
41.7 |
|
5.9 |
|
117.9 |
|
82.7 |
|
Other income/(expense), net |
|
0.5 |
|
3.2 |
|
4.2 |
|
(1.2) |
|
Interest income, net |
|
0.4 |
|
2.2 |
|
2.0 |
|
7.3 |
|
Income before income taxes |
|
42.6 |
|
11.3 |
|
124.1 |
|
88.8 |
|
Income taxes |
|
(11.0) |
|
1.4 |
|
(30.5) |
|
(18.6) |
|
Net income |
|
31.6 |
|
12.7 |
|
93.6 |
|
70.2 |
|
Net loss/(income) attributable to non-controlling interests |
|
0.2 |
|
0.2 |
|
(0.6) |
|
(1.0) |
|
Net income attributable to Innospec |
$ |
31.8 |
$ |
12.9 |
$ |
93.0 |
$ |
69.2 |
|
|
|
|
|
|
|
|
|
|
|
Earnings per share: |
|
|
|
|
|
|
|
|
|
Basic |
$ |
1.29 |
$ |
0.52 |
$ |
3.77 |
$ |
2.78 |
|
Diluted |
$ |
1.29 |
$ |
0.52 |
$ |
3.75 |
$ |
2.76 |
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding (in thousands): |
|
|
|
|
|
|
|
|
|
Basic |
|
24,631 |
|
24,834 |
|
24,684 |
|
24,914 |
|
Diluted |
|
24,743 |
|
24,909 |
|
24,802 |
|
25,045 |
|
|
|
|
|
|
|
|
|
|
|
INNOSPEC INC. AND SUBSIDIARIES
Schedule 2A
SEGMENTAL ANALYSIS OF RESULTS |
|
Three Months Ended September 30 |
|
Nine Months Ended September 30 |
||||
(in millions) |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
|
Net sales: |
|
|
|
|
|
|
|
|
Performance Chemicals |
$ |
180.5 |
$ |
170.8 |
$ |
540.2 |
$ |
513.0 |
Fuel Specialties |
|
180.7 |
|
172.0 |
|
548.0 |
|
507.4 |
Oilfield Services |
|
112.4 |
|
99.1 |
|
330.0 |
|
302.0 |
|
|
473.6 |
|
441.9 |
|
1,418.2 |
|
1,322.4 |
|
|
|
|
|
|
|
|
|
Gross profit: |
|
|
|
|
|
|
|
|
Performance Chemicals |
|
34.0 |
|
25.8 |
|
95.4 |
|
91.6 |
Fuel Specialties |
|
63.4 |
|
61.2 |
|
195.7 |
|
184.9 |
Oilfield Services |
|
31.7 |
|
29.7 |
|
99.8 |
|
88.5 |
|
|
129.1 |
|
116.7 |
|
390.9 |
|
365.0 |
|
|
|
|
|
|
|
|
|
Operating income: |
|
|
|
|
|
|
|
|
Performance Chemicals |
|
16.9 |
|
9.2 |
|
44.0 |
|
43.3 |
Fuel Specialties |
|
35.6 |
|
35.3 |
|
109.7 |
|
107.6 |
Oilfield Services |
|
6.7 |
|
4.8 |
|
21.0 |
|
15.1 |
Corporate costs |
|
(18.6) |
|
(18.2) |
|
(62.5) |
|
(56.8) |
|
|
40.6 |
|
31.1 |
|
112.2 |
|
109.2 |
Adjustment to fair value of contingent consideration |
|
1.1 |
|
17.7 |
|
5.7 |
|
16.2 |
Restructuring charge |
|
- |
|
(0.9) |
|
- |
|
(0.9) |
Impairment of property, plant and equipment |
|
- |
|
(22.9) |
|
- |
|
(22.9) |
Impairment of intangible assets |
|
- |
|
(19.1) |
|
- |
|
(19.1) |
Profit on disposal of property, plant and equipment |
|
- |
|
- |
|
- |
|
0.2 |
Total operating income |
$ |
41.7 |
$ |
5.9 |
$ |
117.9 |
$ |
82.7 |
|
|
|
|
|
|
|
|
|
Schedule 2B
NON-GAAP MEASURES |
|
Three Months Ended September 30 |
|
Nine Months Ended September 30 |
||||
(in millions) |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
|
Net income attributable to Innospec |
$ |
31.8 |
$ |
12.9 |
$ |
93.0 |
$ |
69.2 |
Interest income, net |
|
(0.4) |
|
(2.2) |
|
(2.0) |
|
(7.3) |
Income taxes |
|
11.0 |
|
(1.4) |
|
30.5 |
|
18.6 |
Depreciation and amortization |
|
9.7 |
|
11.9 |
|
29.5 |
|
34.2 |
Foreign currency exchange (gains)/losses |
|
(0.5) |
|
(3.2) |
|
(4.2) |
|
1.1 |
Legacy costs of closed operations |
|
0.9 |
|
1.0 |
|
4.1 |
|
4.8 |
Adjustment to fair value of contingent consideration |
|
(1.1) |
|
(17.7) |
|
(5.7) |
|
(16.2) |
Restructuring charge |
|
- |
|
0.9 |
|
- |
|
0.9 |
Impairment of property, plant and equipment |
|
- |
|
22.9 |
|
- |
|
22.9 |
Impairment of intangible assets |
|
- |
|
19.1 |
|
- |
|
19.1 |
Adjusted EBITDA |
|
51.4 |
|
44.2 |
|
145.2 |
|
147.3 |
Schedule 3
INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions) |
|
September 30, 2026 |
|
December 31, 2025 |
Assets |
|
|
||
|
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
$ |
251.9 |
$ |
292.5 |
Trade and other accounts receivable |
|
395.6 |
|
342.3 |
Inventories |
|
361.8 |
|
329.3 |
Prepaid expenses |
|
10.0 |
|
20.1 |
Prepaid income taxes |
|
2.7 |
|
13.1 |
Other current assets |
|
12.4 |
|
7.3 |
Total current assets |
|
1,034.4 |
|
1,004.6 |
|
|
|
|
|
Net property, plant and equipment |
|
300.2 |
|
286.1 |
Operating lease right-of-use assets |
|
47.3 |
|
52.7 |
Goodwill |
|
397.4 |
|
399.0 |
Other intangible assets |
|
62.5 |
|
67.7 |
Deferred tax assets |
|
13.5 |
|
13.6 |
Other non-current assets |
|
1.3 |
|
8.7 |
Total assets |
$ |
1,856.6 |
$ |
1,832.4 |
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
Accounts payable |
$ |
164.4 |
$ |
174.7 |
Accrued liabilities |
|
157.5 |
|
152.3 |
Current portion of operating lease liabilities |
|
13.5 |
|
15.9 |
Current portion of plant closure provisions |
|
4.9 |
|
4.9 |
Current portion of acquisition-related contingent consideration |
|
2.5 |
|
7.0 |
Accrued income taxes |
|
8.4 |
|
5.3 |
Total current liabilities |
|
351.2 |
|
360.1 |
|
|
|
|
|
Operating lease liabilities, net of current portion |
|
33.8 |
|
36.8 |
Plant closure provisions, net of current portion |
|
58.8 |
|
60.2 |
Deferred tax liabilities |
|
15.8 |
|
19.1 |
Pension liabilities and post-employment benefits |
|
12.5 |
|
13.2 |
Acquisition-related contingent consideration, net of current portion |
|
0.5 |
|
1.3 |
Other non-current liabilities |
|
3.7 |
|
8.8 |
Equity |
|
1,380.3 |
|
1,332.9 |
Total liabilities and equity |
$ |
1,856.6 |
$ |
1,832.4 |
Schedule 4
INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
Nine Months Ended September 30 |
||
(in millions) |
|
2026 |
|
2025 |
Cash Flows from Operating Activities |
|
|
|
|
|
|
|
|
|
Net income |
$ |
93.6 |
$ |
70.2 |
Adjustments to reconcile net income to cash provided by operating activities: |
|
|
|
|
Depreciation and amortization |
|
29.5 |
|
34.2 |
Adjustment to fair value of contingent consideration |
|
(5.7) |
|
(14.9) |
Impairment of property, plant and equipment |
|
- |
|
22.9 |
Impairment of intangible assets |
|
- |
|
19.1 |
Deferred taxes |
|
(3.0) |
|
(10.6) |
Profit on disposal of property, plant and equipment |
|
- |
|
(0.2) |
Movements on defined benefit pension plans |
|
(0.2) |
|
2.6 |
Stock option compensation |
|
5.2 |
|
5.0 |
Changes in working capital |
|
(87.4) |
|
(24.4) |
Movements in plant closure provisions |
|
0.5 |
|
1.1 |
Movements in income taxes |
|
11.8 |
|
(19.9) |
Movements in other assets and liabilities |
|
(2.1) |
|
(7.2) |
Net cash provided by operating activities |
|
42.2 |
|
77.9 |
Cash Flows from Investing Activities |
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
(42.4) |
|
(35.7) |
Proceeds on disposal of property, plant and equipment |
|
1.7 |
|
0.4 |
Business combinations, net of cash acquired |
|
- |
|
(2.0) |
Internally developed software |
|
(5.1) |
|
(18.6) |
Net cash used in investing activities |
|
(45.8) |
|
(55.9) |
Cash Flows from Financing Activities |
|
|
|
|
|
|
|
|
|
Dividend paid |
|
(22.7) |
|
(20.8) |
Issue of treasury stock |
|
0.2 |
|
0.4 |
Repurchase of common stock |
|
(13.5) |
|
(23.9) |
Net cash used in financing activities |
|
(36.0) |
|
(44.3) |
|
|
|
|
|
Effect of foreign currency exchange rate changes on cash |
|
(1.0) |
|
3.9 |
Net change in cash and cash equivalents |
|
(40.6) |
|
(18.4) |
Cash and cash equivalents at beginning of period |
|
292.5 |
|
289.2 |
Cash and cash equivalents at end of period |
$ |
251.9 |
$ |
270.8 |