Innospec Inc. - IOSP STOCK NEWS

Innospec Inc. (NASDAQ: IOSP) has inaugurated a new Technology Center in Ellesmere Port, UK, reflecting a commitment to cleaner fuels and enhanced customer support. The center, developed with an investment of over $2.5 million, is designed to improve fuel efficiency and reduce emissions. It will serve as the base for the Fuel Specialties Customer Technical Services team and features state-of-the-art laboratory facilities. The project demonstrates Innospec's dedication to advancing technology in the fuel industry and training future scientists.

Innospec reported record quarterly sales of $413.2 million for Q4 2021, a 33% increase from Q4 2020. Net income rose to $23.9 million ($0.96 per diluted share), compared to $22.6 million ($0.91 per diluted share) last year. The company's EBITDA was $44.8 million, up from $40.2 million in 2020. For the full year, total revenues reached $1.48 billion, up 24%, with net income at $93.1 million ($3.75 per share), compared to $28.7 million in 2020. Innospec generated $68.8 million in cash from operations, ending the year with $141.7 million in net cash. A new $50 million share repurchase program was also announced.

Innospec Inc. (NASDAQ: IOSP) announced its fourth quarter 2021 earnings results release date, set for February 15, 2022, after market close. Following the results, a conference call will be hosted by CEO Patrick S. Williams and CFO Ian Cleminson on February 16, 2022, at 10:00 a.m. ET. Interested parties can join via phone or an audio webcast on the company’s website. A replay of the call will be accessible from February 16 to 23, 2022. Innospec operates internationally, specializing in specialty chemicals across various industries, including fuel additives and personal care.

Innospec has gained approval for Iselux®, a sulfate-free surfactant, for use in China, expanding its market presence in personal care. This versatile surfactant, found in over 3,000 products, offers superior cleansing and lathering. With a planned investment of over $70 million through 2023, Innospec aims to meet rising demand for clean beauty products. The approval not only enables Iselux® sales in China but also enhances global formulation consistency for customers, simplifying supply chains.

Innospec has appointed Leslie J. Parrette as a non-employee director, effective January 1, 2022. Parrette brings 34 years of experience in corporate law, most recently serving as Senior Vice President and General Counsel at Novelis Inc. His appointment expands the Board from seven to eight members, with Parrette joining the Nominating and Corporate Governance Committee. Chairman Milton C. Blackmore praised his expertise in corporate governance and strategic planning, viewing it as beneficial to Innospec's growth strategy.

Innospec Inc. (NASDAQ: IOSP) reported strong Q3 2021 results, with total revenues reaching $376.1 million, a 42% increase year-over-year. GAAP EPS was 94 cents, while adjusted non-GAAP EPS hit $1.15, up from 71 cents the previous year. Operating income surged 44% to $23.4 million. The company declared a 12% increase in its annual dividend, totaling $1.16 per share. Performance Chemicals led growth with record sales of $132.8 million. However, cash flow was impacted by rising working capital needs due to supply chain disruptions.

Innospec Inc. (NASDAQ: IOSP) will announce its third quarter 2021 earnings on November 2, 2021, post-market. CEO Patrick S. Williams and CFO Ian Cleminson will discuss the results in a conference call on November 3, 2021, at 10:00 a.m. ET. Investors can access the call via phone or through a live audio webcast on Innospec's website. A replay will be available from November 4 to November 11, 2021.

Innospec operates in the specialty chemicals sector, providing services including fuel additives and performance chemicals across various industries worldwide.

Innospec (NASDAQ: IOSP) has published its 2020 Responsible Business Report, highlighting significant achievements in sustainability and corporate responsibility. Key metrics include a 46% reduction in absolute scope 1 and 2 greenhouse gas emissions, with all manufacturing facilities now using 100% renewable electricity. The company earned the EcoVadis Gold Medal for sustainability and delivered US$704,000 in social value to 155 charities. Notable investments in production capacity were made in North Carolina and Texas, alongside the establishment of a new technology center in Salisbury.

Innospec Inc. (NASDAQ: IOSP) reported strong second-quarter results for 2021, with total revenues reaching $354.5 million, a 45% increase from the previous year. The company's net income improved to $22.4 million or 90 cents per share. Adjusted non-GAAP EPS was $1.30, up from a loss of 18 cents a year ago. Performance Chemicals and Fuel Specialties drove growth, with record sales in Performance Chemicals at $128.2 million up 34%. Despite a small operating cash outflow, the company maintains a healthy liquidity position with $94.2 million in net cash.