Welcome to our dedicated page for Innospec news (Ticker: IOSP), a resource for investors and traders seeking the latest updates and insights on Innospec stock.
Innospec Inc. (symbol: IOSP) is a global specialty chemicals company dedicated to pioneering innovative technologies and offering fast, responsive service. Serving a multitude of industries across the globe, Innospec brings its extensive range of products to markets including oilfields, fuels, refineries, power stations, and personal care. The company’s core competencies are organized into three primary segments:
- Fuel Specialties: This segment, generating the majority of Innospec’s revenue, focuses on products that enhance fuel efficiency, engine performance, and reduce emissions for automobiles, marine vessels, and aircraft. Additionally, it provides solutions for oil field services to facilitate the extraction of oil and gas.
- Performance Chemicals: Catering to the personal care industry, this segment delivers a range of products that meet the dynamic needs of consumers and market trends.
- Oilfield Services: This division is dedicated to the development and marketing of products designed to prevent the loss of mud in drilling operations, ensuring efficient and effective extraction processes.
Headquartered in the United States, Innospec's global team of approximately 1,300 employees spans 20 countries. Their vast experience and in-depth market understanding enable them to address local needs while leveraging a global footprint. By integrating their extensive network with localized service capabilities, Innospec ensures the delivery of high-quality products that meet and anticipate evolving market dynamics.
Innospec continues to demonstrate strong financial performance through strategic partnerships and ongoing projects. For the latest updates, announcements, and detailed information on their operations, visit the news section on their website or contact Corbin Barnes at +44-151-355-3611 or via email at corbin.barnes@innospecinc.com.
Innospec (NASDAQ: IOSP) reported Q3 2024 financial results with total revenues of $443.4 million, down 4% year-over-year. Net income was $33.4 million or $1.33 per diluted share, compared to $39.2 million or $1.57 per share last year. Performance Chemicals and Fuel Specialties achieved double-digit operating income growth with margin expansion, while Oilfield Services remained impacted by lower production chemical activity. The company generated $73.5 million in operating cash flow and improved net cash position to $303.8 million. The company increased its annual dividend by 10% to $1.55 per share.
Innospec (NASDAQ: IOSP) has published its 2023 Sustainability Report, marking 25 years of reporting on sustainable business practices. Key highlights include:
- Acquisition of QGP Química Geral S.A in Brazil
- 48% decrease in Scope 1 & 2 greenhouse gas emissions since 2014
- Completion of first Scope 3 emissions assessment
- New Energy Center at Ellesmere Port, UK facility
- $737,000 in social value delivered, supporting 151 global charities
- 1,054 employee volunteering hours
- $42 million spent on Research and Technology
The report received independent assurance to the AA1000 Assurance standard. CEO Patrick S. Williams emphasized sustainability as a priority for Innospec, stating it provides a strong foundation for delivering sustainable business goals.
Innospec Inc. (NASDAQ: IOSP) reported its Q2 2024 financial results, showing mixed performance across divisions. Total revenues decreased 9% to $435.0 million, while net income increased to $31.2 million or $1.24 per diluted share. Adjusted non-GAAP EPS rose to $1.39 from $1.28 a year ago. Performance Chemicals saw strong growth, with operating income more than doubling. Fuel Specialties also improved, but Oilfield Services declined due to lower production chemical activity. The company maintains a strong financial position with $240.2 million in net cash and no debt. Innospec continues to focus on technology-led growth opportunities and potential M&A activities while returning value to shareholders through dividend growth.
Innospec (NASDAQ: IOSP) has announced that it will release its second quarter 2024 earnings results on August 6, 2024, after market close. The following day, August 7, 2024, at 10:00 a.m. ET, President and CEO Patrick S. Williams, alongside EVP and CFO Ian Cleminson, will host an interactive conference call to discuss the results. Interested parties can register in advance online to receive unique dial-in details. The conference call will be audio webcasted live on Innospec's website, with a slide presentation available in the Investor Relations section. A replay of the call will be accessible for 30 days post-event.
Innospec (NASDAQ: IOSP) has earned a Gold rating in the EcoVadis sustainability assessment for the fourth consecutive year, positioning it in the top 5% of companies in its sector worldwide. The award highlights Innospec's commitment to sustainable business practices. Patrick S. Williams, President and CEO, emphasized the company's dedication to exploring innovative technologies to enhance sustainability. Ian Callan, VP of Global Regulatory Compliance and ESG, noted the company's ongoing efforts to improve sustainability performance and maintain high corporate responsibility standards. EcoVadis, a leading sustainability rating platform, evaluates over 180,000 companies based on environmental, social, ethical, and procurement criteria, providing transparency in sustainability practices.
Innospec (NASDAQ: IOSP), a global leader in specialty chemicals, announced a partnership with International Justice Mission (IJM) to address forced labor in the Southeast Asia palm oil sector. This collaboration aligns with Innospec's long-standing commitment to responsible sourcing of palm-based materials, supported by their memberships in the Roundtable on Sustainable Palm Oil and Action for Sustainable Derivatives. The partnership aims to combat modern slavery by empowering local stakeholders and improving public justice systems. Innospec emphasizes its dedication to ethical practices and enhancing worker protection through this initiative. Financial data provided includes adjusted EBITDA and net income, which are non-GAAP measures aimed at offering insights into the company's performance.
Innospec Inc. (NASDAQ: IOSP) reported strong financial results for the first quarter of 2024, with a 23% increase in operating income driven by Performance Chemicals. The Company generated $80.6 million in cash from operations, leading to net cash of $270.1 million. The dividend was increased by 10%, with GAAP EPS of $1.65 and adjusted non-GAAP EPS of $1.75. Total revenues were $500.2 million, a 2% decrease from the previous year. Net income for the quarter was $41.4 million or $1.65 per diluted share. Adjusted EBITDA was $64.0 million, up from $52.7 million a year ago.
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