NewMarket Q1 net income $107.7M, EPS $11.23; AMPAC acquisition closed; dividend raised 11%

NEWMARKET CORP

2024-Q1 EPS reported $11.23 revenue$696,736,000

Net income $107.7M ($11.23 EPS) vs $97.6M ($10.09 EPS) in Q1 2023.
Petroleum additives operating profit $150.9M (+14.2% YoY); shipments up 4.7%.
Acquired AMPAC for ~$700M Jan 16; specialty segment $17M sales, $5M operating loss from inventory step-up.
Board approved 11% dividend increase; new $900M revolver and $250M term loan arranged.
Net Debt to EBITDA 1.9 (target 1.5-2.0); capex $13.6M for the quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NEWMARKET CORP reported the first quarter ended March 31, 2024 results: revenue $677.3 million, net income $107.7 million, EPS $11.23 per share.

Period: the first quarter ended March 31, 2024
Revenue: $677.3 million
Net income: $107.7 million
EPS: $11.23 per share
Result: reported results

Exact text from the filing

or $11.23 per share, compared to net income of $97.6 million, or $10.09 per share, for the first quarter of 2023. Petroleum additives sales for the first quarter of 2024 were $677.3 million, compared to $700.0 million for the same period in 2023. Petroleum additives operating profit for the first quarter of 2024 was $150.9 million, compared to $132.1 million for the

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Source: SEC EDGAR

accession 0001282637-24-000010

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