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Innospec Reports Third Quarter 2024 Financial Results

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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) ha riportato i risultati finanziari del terzo trimestre 2024, con ricavi totali di 443,4 milioni di dollari, in calo del 4% rispetto all'anno precedente. L'utile netto è stato di 33,4 milioni di dollari, ovvero 1,33 dollari per azione diluita, rispetto ai 39,2 milioni di dollari o 1,57 dollari per azione dell'anno scorso. I prodotti chimici per performance e le specialità per carburanti hanno registrato una crescita a due cifre dell'utile operativo con un'espansione dei margini, mentre i servizi per i giacimenti petroliferi sono rimasti influenzati da un'attività di produzione chimica più bassa. L'azienda ha generato 73,5 milioni di dollari in flusso di cassa operativo e ha migliorato la posizione di liquidità netta a 303,8 milioni di dollari. L'azienda ha aumentato il suo dividendo annuale del 10% portandolo a 1,55 dollari per azione.

Innospec (NASDAQ: IOSP) informó sobre los resultados financieros del tercer trimestre de 2024, con ingresos totales de 443,4 millones de dólares, lo que representa una caída del 4% en comparación con el año anterior. El ingreso neto fue de 33,4 millones de dólares, o 1,33 dólares por acción diluida, en comparación con 39,2 millones de dólares o 1,57 dólares por acción del año pasado. Los productos químicos de rendimiento y las especialidades de combustible lograron un crecimiento de dos dígitos en el ingreso operativo con expansión del margen, mientras que los Servicios de Campo Petrolero se vieron afectados por la menor actividad química de producción. La compañía generó 73,5 millones de dólares en flujo de caja operativo y mejoró su posición de efectivo neto a 303,8 millones de dólares. La empresa incrementó su dividendo anual en un 10%, llevándolo a 1,55 dólares por acción.

Innospec (NASDAQ: IOSP)는 2024년 3분기 재무 결과를 보고하며, 총 수익이 4억 4,340만 달러로 전년 대비 4% 감소했다고 발표했습니다. 순익은 3,340만 달러 또는 희석 주당 1.33달러로, 작년의 3,920만 달러 또는 주당 1.57달러와 비교됩니다. 성능 화학 물질 및 연료 특수 화학 물질은 마진 확대와 함께 두 자릿수 운영 수익 성장을 달성했지만, 유전 서비스는 생산 화학 활동 감소의 영향을 받았습니다. 회사는 7,350만 달러의 운영 현금 흐름을 생성하고 순 현금 포지션을 3억 3,800만 달러로 개선했습니다. 회사는 연간 배당금을 10% 증가시켜 주당 1.55달러로 조정했습니다.

Innospec (NASDAQ: IOSP) a annoncé les résultats financiers du troisième trimestre 2024, avec des revenus totaux de 443,4 millions de dollars, soit une baisse de 4% par rapport à l’année précédente. Le bénéfice net s’élevait à 33,4 millions de dollars, soit 1,33 dollar par action diluée, contre 39,2 millions de dollars ou 1,57 dollar par action l'année dernière. Les produits chimiques de performance et les spécialités de carburant ont réalisé une croissance à deux chiffres de leur bénéfice opérationnel avec une expansion de la marge, tandis que les services pétroliers ont été impactés par une activité chimique de production plus faible. L'entreprise a généré 73,5 millions de dollars de flux de trésorerie opérationnel et a amélioré sa position de trésorerie nette à 303,8 millions de dollars. L'entreprise a augmenté son dividende annuel de 10% à 1,55 dollar par action.

Innospec (NASDAQ: IOSP) berichtete über die Finanzzahlen für das dritte Quartal 2024 mit einem Gesamterlös von 443,4 Millionen Dollar, was einem Rückgang von 4% im Vergleich zum Vorjahr entspricht. Der Nettogewinn betrug 33,4 Millionen Dollar oder 1,33 Dollar pro verwässerter Aktie, verglichen mit 39,2 Millionen Dollar oder 1,57 Dollar pro Aktie im letzten Jahr. Leistungschemikalien und Kraftstoffspezialitäten erzielten ein zweistelliges Wachstum des Betriebsergebnisses mit Margenausweitung, während die Ölservice-Dienstleistungen weiterhin von einer geringeren Produktionschemieaktivität betroffen waren. Das Unternehmen generierte 73,5 Millionen Dollar an operativem Cashflow und verbesserte seine Nettobarposition auf 303,8 Millionen Dollar. Das Unternehmen erhöhte die jährliche Dividende um 10% auf 1,55 Dollar pro Aktie.

Positive
  • Performance Chemicals operating income increased 18% to $20.0 million
  • Fuel Specialties operating income grew 12% to $30.9 million
  • Strong cash generation of $73.5 million from operations
  • Net cash position improved to $303.8 million with zero debt
  • 10% increase in annual dividend to $1.55 per share
Negative
  • Total revenues decreased 4% to $443.4 million
  • Net income declined to $33.4 million from $39.2 million year-over-year
  • Oilfield Services operating income decreased 57% to $7.1 million
  • Effective tax rate increased to 25.4% from 17.5% last year

Insights

Innospec delivered mixed Q3 results with notable strengths in Performance Chemicals and Fuel Specialties, offset by weakness in Oilfield Services. Revenue declined 4% to $443.4 million, while adjusted EPS fell to $1.35 from $1.59 year-over-year. The bright spots include Performance Chemicals' 18% operating income growth and Fuel Specialties' 12% increase, both showing margin expansion. The robust cash position of $303.8 million with zero debt provides significant financial flexibility. The 10% dividend increase to $1.55 annually signals management's confidence in future performance. However, continued weakness in Oilfield Services, with operating income down 57%, remains a concern for near-term growth.

The segmental performance reveals important market dynamics. Performance Chemicals' 13% revenue growth, driven by acquisition and volume increases, indicates strong end-market demand in personal care and industrial sectors. Fuel Specialties' margin improvement despite revenue decline demonstrates pricing power and operational efficiency. The significant decline in Oilfield Services reflects broader industry challenges in production chemicals, though management's focus on technology-based growth opportunities suggests potential recovery in 2025. The geographical mix impact on tax rate (increasing to 25.4% from 17.5%) warrants attention for future earnings forecasts.

Performance Chemicals and Fuel Specialties operating income up double digits with margin expansion

As expected, Oilfield Services results remain impacted by lower production chemical activity

$73.5 million cash generated from operations; Net cash improves to $303.8 million

GAAP EPS $1.33 and adjusted non-GAAP EPS $1.35

Dividend for full year increased by 10 percent

ENGLEWOOD, Colo., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Innospec Inc. (NASDAQ: IOSP) today announced its financial results for the third quarter ended September 30, 2024 and declared a semi-annual dividend of 79 cents per common share for the second half of 2024, which will be paid on November 26, 2024 to shareholders of record as of November 18, 2024. This brings the annual dividend to $1.55 per share, a 10 percent increase over 2023.

Total revenues for the third quarter were $443.4 million, a decrease of 4 percent from $464.1 million in the corresponding period last year. Net income for the quarter was $33.4 million or $1.33 per diluted share, compared to $39.2 million or $1.57 per diluted share recorded last year. Adjusted EBITDA for the quarter was $50.5 million compared to $54.3 million reported in the same period a year ago.

Results for this quarter include some special items, which are summarized in the table below. Excluding these items, adjusted non-GAAP EPS in the third quarter was $1.35 per diluted share, compared to $1.59 per diluted share a year ago.

Innospec generated cash from operating activities of $73.5 million before capital expenditures of $11.7 million in the quarter. The quarter closed with net cash of $303.8 million.

Adjusted EBITDA, income before income taxes excluding special items, net income excluding special items, and related per-share amounts, together with net cash, are non-GAAP financial measures that are defined and reconciled with GAAP results herein and in the schedules below.

                        
 Quarter ended September 30, 2024
 Quarter ended September 30, 2023
                        
(in millions, except share and per share data) Income
before

income
taxes
   Net
income
   Diluted
EPS
   Income
before

income
taxes
   Net
income
   Diluted
EPS
 
           

             
Reported GAAP amounts$44.8  $33.4  $1.33  $47.5  $39.2  $1.57 
                        
Recovery of historical pension costs (8.4)  (6.3)  (0.25)  -   -   - 
Foreign currency exchange losses/(gains) 4.1   3.1   0.12   (3.2)  (2.4)  (0.10)
Amortization of acquired intangible assets 3.0   2.3   0.09   2.6   2.0   0.08 
Settlement of historical tax audits -   1.3   0.05   -   -   - 
Adjustment of income tax provisions -   (0.9)  (0.04)  -   0.2   0.01 
Legacy costs of closed operations 1.0   0.8   0.03   0.7   0.5   0.02 
Adjustment to fair value of contingent consideration 0.7   0.5   0.02   -   -   - 
Acquisition related costs -   -   -   0.3   0.2   0.01 
  0.4   0.8   0.02   0.4   0.5   0.02 
                        
Adjusted non-GAAP amounts$45.2  $34.2  $1.35  $47.9  $39.7  $1.59 
                        

Commenting on the third quarter results, Patrick S. Williams, President and Chief Executive Officer, said,

“Overall, this was a good quarter for Innospec. Fuel Specialties and Performance Chemicals delivered double digit operating income growth and margin expansion over the prior year, and Oilfield Services remained in line with expectations due to continuing weak production chemicals activity.

Performance Chemicals operating income remained broadly in-line with the first two quarters of 2024, and we expect that performance to continue in the coming quarter. Moving through 2025, our outlook continues to target sequential quarterly operating income and margin improvement. We expect that this growth will come from a broad mix of opportunities in our personal care, home care, agriculture and other industrial end markets.

In Fuel Specialties, gross margin improvement drove double digit operating income growth and operating margin expansion. We expect sequential improvement in operating income in the coming quarter, on seasonal demand. Over the medium-term, the team are pursuing several regional and end-market opportunities which target further sales growth and margin improvement in traditional fuel, renewable fuel and non-fuel applications.

As anticipated, Oilfield Services results continued to be impacted by significantly lower production chemical activity in the quarter. As of the end of October this activity has not recovered. We continue to expect lower sales levels through the end of 2024. In parallel we remain focused on several technology-based sales growth and margin improvement opportunities in our other oilfield segments, which we believe will drive sequential quarterly improvements in 2025.”

Revenues in Performance Chemicals of $163.6 million were up 13 percent over the third quarter of last year, with acquisition growth of 8 percent, volume growth of 9 percent and an adverse price/mix of 4 percent. Gross margins of 22.1 percent increased by 1.2 percentage points from the same quarter last year. Operating income of $20.0 million increased 18 percent from $16.9 million in the prior year period.

Revenues in Fuel Specialties of $165.8 million were down 2 percent from $169.3 million in the third quarter of last year. Volumes were up 2 percent offset by an adverse price/mix of 4 percent. Gross margins of 33.6 percent increased by 2.3 percentage points over last year. Operating income of $30.9 million was up 12 percent from $27.6 million a year ago.

Revenues in Oilfield Services of $114.0 million for the quarter were down 24 percent from $149.6 million in the third quarter of last year. Gross margins of 28.3 percent decreased by 7.7 percentage points from the same quarter last year on a weaker sales mix. Operating income of $7.1 million decreased 57 percent from $16.4 million in the prior year period.

Corporate costs for the quarter were $11.8 million, compared with $19.0 million a year ago primarily due to an $8.4 million recovery of historic pension costs. The effective tax rate for the quarter was 25.4 percent compared to 17.5 percent in the same period last year, due to the geographical mix of taxable profits.

For the quarter, cash provided by operating activities was $73.5 million compared to $58.1 million a year ago. As of September 30, 2024, Innospec had $303.8 million in cash and cash equivalents and no debt.

Mr. Williams concluded,

“I am pleased with the overall results this quarter which were in line with our expectations. Fuel Specialties and Performance Chemicals both delivered double digit operating income growth and improved margins over the prior year, while Oilfield Services was flat as expected with the quarter ended June 30, 2024. We continue to execute against a broad set of growth opportunities in all businesses. We believe our businesses will drive full-year growth in Fuel Specialties and Performance Chemicals, and sequential quarterly recovery in Oilfield Services in 2025.

Cash generation was excellent. With over $300 million in net cash we expect to continue to pursue organic investments and complementary M&A while returning value to shareholders through dividend growth. In line with this, I am pleased to announce an increase in our semi-annual dividend to 79 cents, bringing our dividend to $1.55 for the full year, an annual increase of 10 percent.”

Use of Non-GAAP Financial Measures

The information presented in this press release includes financial measures that are not calculated or presented in accordance with Generally Accepted Accounting Principles in the United States (GAAP). These non-GAAP financial measures comprise adjusted EBITDA, income before income taxes excluding special items, net income excluding special items and related per share amounts together with net cash. Adjusted EBITDA is net income per our consolidated financial statements adjusted for the exclusion of interest (income)/expense, net, income taxes, depreciation and amortization, recovery of historical pension costs, foreign currency exchange losses/(gains), legacy costs of closed operations, adjustment to fair value of contingent consideration and acquisition related costs. Income before income taxes, net income and diluted EPS, excluding special items, per our consolidated financial statements are adjusted for the exclusion of recovery of historical pension costs, foreign currency exchange losses/(gains), amortization of acquired intangible assets, settlement of historical tax audits, adjustment of income tax provisions, legacy costs of closed operations, adjustment to fair value of contingent consideration and acquisition related costs. Net cash is cash and cash equivalents less total debt. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided herein and in the schedules below. The Company believes that such non-GAAP financial measures provide useful information to investors and may assist them in evaluating the Company’s underlying performance and identifying operating trends. In addition, these non-GAAP measures address questions the Company routinely receives from analysts and investors and the Company has determined that it is appropriate to make this data available to all investors. While the Company believes that such measures are useful in evaluating the Company’s performance, investors should not consider them to be a substitute for financial measures prepared in accordance with GAAP. In addition, these non-GAAP financial measures may differ from similarly titled non-GAAP financial measures used by other companies and do not provide a comparable view of the Company’s performance relative to other companies in similar industries. Management uses adjusted EPS (the most directly comparable GAAP financial measure for which is GAAP EPS) and net income excluding special items and adjusted EBITDA (the most directly comparable GAAP financial measure for which is GAAP net income) to allocate resources and evaluate the performance of the Company’s operations and has provided a reconciliation of adjusted EBITDA and net income excluding special items, and related per share amounts, to GAAP net income herein and in the schedules below.

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with approximately 2,400 employees in 22 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil and gas exploration and production industry. 

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Such forward-looking statements include statements (covered by words like “expects,” “estimates,” “anticipates,” “may,” “could,” “believes,” “feels,” “plans,” “intends,” “outlook” or similar words or expressions, for example) which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future. Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, and our actual performance or results may differ materially from these forward-looking statements. Additional information regarding risks, uncertainties and assumptions relating to Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2023, Innospec’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 and other reports filed with the U.S. Securities and Exchange Commission. You are urged to review our discussion of risks and uncertainties that could cause actual results to differ from forward-looking statements under the heading "Risk Factors” in such reports. Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Corbin Barnes
Innospec Inc.
+44-151-355-3611
corbin.barnes@innospecinc.com

 
INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 
Schedule 1
 
  Three Months Ended
September 30
  Nine Months Ended
September 30
(in millions, except share and per share data)  2024   2023   2024   2023 
                
Net sales$443.4  $464.1  $1,378.6  $1,454.1 
Cost of goods sold (319.3)  (326.9)  (971.9)  (1,018.7)
Gross profit 124.1   137.2   406.7   435.4 
                
Operating expenses:               
Selling, general and administrative (66.8)  (83.7)  (232.9)  (285.5)
Research and development (11.1)  (11.6)  (35.1)  (32.8)
Adjustment to fair value of contingent consideration (0.7)  -   (2.1)  - 
Profit on disposal of property, plant and equipment 0.1   -   0.2   - 
Total operating expenses (78.5)  (95.3)  (269.9)  (318.3)
Operating income 45.6   41.9   136.8   117.1 
Other (expense)/income, net (3.5)  4.8   0.1   11.2 
Interest income, net 2.7   0.8   6.9   0.8 
Income before income taxes 44.8   47.5   143.8   129.1 
Income taxes (11.4)  (8.3)  (37.8)  (27.8)
Net income$33.4  $39.2  $106.0  $101.3 
                
Earnings per share:               
Basic$1.34  $1.58  $4.25  $4.08 
Diluted$1.33  $1.57  $4.22  $4.05 
                
Weighted average shares outstanding (in thousands):               
Basic 24,941   24,866   24,926   24,845 
Diluted 25,101   25,006   25,103   25,000 
                


 
INNOSPEC INC. AND SUBSIDIARIES
 
Schedule 2A
 
SEGMENTAL ANALYSIS OF RESULTS Three Months Ended
September 30
  Nine Months Ended
September 30
(in millions) 2024   2023   2024   2023 
            
Net sales:           
Performance Chemicals$163.6  $145.2  $484.5  $424.4 
Fuel Specialties 165.8   169.3   509.3   513.8 
Oilfield Services 114.0   149.6   384.8   515.9 
  443.4   464.1   1,378.6   1,454.1 
            
Gross profit:           
Performance Chemicals 36.1   30.3   110.0   76.4 
Fuel Specialties 55.7   53.0   173.9   155.2 
Oilfield Services 32.3   53.9   122.8   203.8 
  124.1   137.2   406.7   435.4 
            
Operating income:           
Performance Chemicals 20.0   16.9   62.3   36.5 
Fuel Specialties 30.9   27.6   94.7   77.1 
Oilfield Services 7.1   16.4   31.3   60.3 
Corporate costs (11.8)  (19.0)  (49.6)  (56.8)
  46.2   41.9   138.7   117.1 
Adjustment to fair value of contingent consideration (0.7)  -   (2.1)  - 
Profit on disposal of property, plant and equipment 0.1   -   0.2   - 
Total operating income$45.6  $41.9  $136.8  $117.1 


Schedule 2B
 
NON-GAAP MEASURES Three Months Ended
September 30
  Nine Months Ended
September 30
(in millions) 2024   2023   2024   2023 
                
Net income$33.4  $39.2  $106.0  $101.3 
Interest income, net (2.7)  (0.8)  (6.9)  (0.8)
Income taxes 11.4   8.3   37.8   27.8 
Depreciation and amortization 11.0   9.8   32.3   28.3 
Recovery of historical pension costs (8.4)  -   (8.4)  - 
Foreign currency exchange losses/(gains) 4.1   (3.2)  3.1   (6.4)
Legacy costs of closed operations 1.0   0.7   2.6   2.4 
Adjustment to fair value of contingent consideration 0.7   -   2.1   - 
Acquisition related costs -   0.3   -   1.8 
Adjusted EBITDA 50.5   54.3   168.6   154.4 


 
Schedule 3
INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
 
(in millions) September 30,
2024
  December 31,
2023
Assets  
      
Current assets:     
Cash and cash equivalents$303.8 $203.7
Trade and other accounts receivable 327.6  359.8
Inventories 319.3  300.1
Prepaid expenses 9.2  18.7
Prepaid income taxes 5.1  2.8
Other current assets 0.6  0.6
Total current assets 965.6  885.7
      
Net property, plant and equipment 278.2  268.3
Operating lease right-of-use assets 45.5  45.1
Goodwill 392.3  399.3
Other intangible assets 63.6  57.3
Deferred tax assets 10.5  10.4
Pension asset 38.1  35.1
Other non-current assets 3.9  6.2
Total assets$1,797.7 $1,707.4
      
Liabilities and Stockholders’ Equity     
      
Current liabilities:     
Accounts payable$169.0 $163.6
Accrued liabilities 170.0  185.9
Current portion of operating lease liabilities 14.0  13.6
Current portion of plant closure provisions 4.6  4.6
Current portion of accrued income taxes 15.5  2.6
Current portion of unrecognized tax benefits -  1.2
Total current liabilities 373.1  371.5
      
Operating lease liabilities, net of current portion 31.7  31.6
Plant closure provisions, net of current portion 58.7  57.0
Accrued income taxes, net of current portion -  11.6
Unrecognized tax benefits, net of current portion 11.0  13.6
Deferred tax liabilities 35.8  33.5
Pension liabilities and post-employment benefits 13.3  13.3
Acquisition-related contingent consideration 21.5  23.4
Other non-current liabilities 5.0  2.3
Equity 1,247.6  1,149.6
Total liabilities and equity$1,797.7 $1,707.4




 
Schedule 4
INNOSPEC INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 
  Nine Months Ended
September 30
(in millions) 2024   2023 
Cash Flows from Operating Activities     
      
Net income$106.0  $101.3 
Adjustments to reconcile net income to cash provided by operating activities:     
Depreciation and amortization 32.6   29.1 
Adjustment to fair value of contingent consideration 2.1   - 
Deferred taxes 0.6   0.5 
Profit on disposal of property, plant and equipment (0.2)  - 
Non-cash movements on defined benefit pension plans (2.5)  (2.5)
Stock option compensation 6.4   5.9 
Changes in working capital 11.9   20.8 
Movements in plant closure provisions -   (1.2)
Movements in income taxes 1.5   (20.2)
Movements in unrecognized tax benefits (3.8)  0.7 
Movements in other assets and liabilities 4.2   0.5 
Net cash provided by operating activities 158.8   134.9 
      
Cash Flows from Investing Activities     
      
Capital expenditures (29.3)  (45.2)
Proceeds on disposal of property, plant and equipment 0.3   - 
Business combinations, net of cash acquired (0.2)  - 
Internally developed software (12.2)  (10.8)
Net cash used in investing activities (41.4)  (56.0)
      
Cash Flows from Financing Activities     
      
Non-controlling interest 1.7   0.3 
Refinancing costs (0.3)  (1.4)
Dividend paid (19.0)  (17.2)
Issue of treasury stock 0.8   0.7 
Repurchase of common stock (0.7)  (1.0)
Net cash used in financing activities (17.5)  (18.6)
      
Effect of foreign currency exchange rate changes on cash 0.2   (0.2)
Net change in cash and cash equivalents 100.1   60.1 
Cash and cash equivalents at beginning of period 203.7   147.1 
Cash and cash equivalents at end of period$303.8  $207.2 
        

Amortization of deferred finance costs of $0.3 million (2023 - $0.8 million) are included in depreciation and amortization in the condensed consolidated statements of cash flows and in interest expense, net in the condensed consolidated statements of income.


FAQ

What was Innospec's (IOSP) revenue in Q3 2024?

Innospec reported total revenues of $443.4 million in Q3 2024, a 4% decrease from $464.1 million in the same period last year.

How much cash did Innospec (IOSP) generate from operations in Q3 2024?

Innospec generated $73.5 million in cash from operating activities before capital expenditures of $11.7 million in Q3 2024.

What is Innospec's (IOSP) new dividend payment for 2024?

Innospec increased its annual dividend by 10% to $1.55 per share, with a semi-annual dividend of 79 cents per common share for the second half of 2024.

What was Innospec's (IOSP) net income per share in Q3 2024?

Innospec reported net income of $1.33 per diluted share, or adjusted non-GAAP EPS of $1.35 per diluted share in Q3 2024.

Innospec Inc.

NASDAQ:IOSP

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2.74B
24.94M
1.08%
99.44%
1.03%
Specialty Chemicals
Chemicals & Allied Products
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United States of America
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