NewMarket Q3 net income rises 24% on lower tax rates, surcharges 

Overview

• US chemical additives maker's Q3 net income and EPS rose yr/yr on higher operating profit

• Q3 revenue rose slightly as petroleum additives sales were nearly flat yr/yr

• Company funded $126 mln in share buybacks, $88 mln in capex, and raised dividend

Outlook

• Company expects ongoing variation in specialty materials results due to business nature

• Specialty materials capacity expansion projects expected to complete by end of 2026

• Company continues to monitor Middle East conflict, macroeconomic uncertainty, and trade relations

Result Drivers

• REDUCED TAX RATE - Co said a lower effective tax rate contributed to higher net income in Q3

• SURCHARGES OFFSET COSTS - Co said surcharges helped offset higher raw materials, utility, and logistics costs in petroleum additives segment

• SPECIALTY MATERIALS GROWTH - Co said specialty materials sales and profit rose due to shift in product shipment mix and inclusion of Calca Solutions acquisition

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)