earnings
confidence high
sentiment positive
materiality 0.75
NewMarket Q2 net income $111.6M ($11.63 EPS); debt cut $171M since AMPAC buy
NEWMARKET CORP
2024-Q2 EPS reported
$22.87
revenue$1,406,964,000
- Q2 net income $111.6M ($11.63 EPS) vs $99.6M ($10.36 EPS) in Q2 2023; first-half net $219.4M ($22.87 EPS).
- Petroleum additives Q2 operating profit $147.8M (+12% YoY) on lower costs and higher shipments; sales $669.8M.
- Specialty materials (AMPAC) Q2 sales $38.0M, operating profit $5.0M; first-half sales $55.1M, near breakeven.
- Debt reduced $171M on revolver since AMPAC acquisition; Net Debt/EBITDA 1.6 within target 1.5-2.0 range.
- First-half capex $28.5M, dividends $48.0M; management expects continued petroleum additives strength.