NewMarket Q3 net income $132M ($13.79 EPS) up from $111M; petroleum additives profit up 12.7%

NEWMARKET CORP

2024-Q3 EPS reported $36.66 revenue$2,131,911,000

Q3 net income $132.3M ($13.79 EPS) vs $111.2M ($11.60 EPS) a year ago.
Petroleum additives Q3 operating profit $157.5M, up from $139.8M, due to lower raw material and operating costs.
Nine months petroleum additives operating profit $456.2M vs $404.0M; shipments increased 1.8%.
Specialty materials (AMPAC) Q3 sales $59.1M, operating profit $16.0M; full-year results expected in line with pre-acquisition expectations.
Debt reduced $259M since AMPAC acquisition; net debt/EBITDA ratio of 1.4, below target range of 1.5-2.0.

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