Innospec Inc - IOSP STOCK NEWS

Innospec Inc. (NASDAQ: IOSP) will release its second quarter 2022 earnings on August 2, 2022, after market close. CEO Patrick S. Williams and CFO Ian Cleminson will hold a conference call on August 3, 2022, at 10:00 a.m. ET. Participants can register online for the call and listen to a webcast on the company’s website. Innospec manufactures specialty chemicals across global markets, with a focus on performance chemicals, fuel specialties, and oilfield services. The company cautions that forward-looking statements concerning earnings and growth are subject to various risks, including economic uncertainties.

Innospec reported strong financial results for Q1 2022, with revenues of $472.4 million, up 39% from last year, and a 57% increase in operating income. GAAP EPS was $1.46, with adjusted non-GAAP EPS at $1.53. The gross margin remained stable despite inflationary pressures. The company announced an 11% dividend increase to 63 cents per share and commenced share repurchases. EBITDA rose 43% to $59 million. The performance was driven by significant sales growth across all business segments, although Oilfield Services faced challenges with shipment delays.

Innospec Inc. (NASDAQ: IOSP) will announce its first quarter 2022 earnings on May 3, 2022, after market close. A conference call with CEO Patrick S. Williams and CFO Ian Cleminson is scheduled for May 4, 2022, at 9:00 a.m. ET. Participants can join by calling +1 877-870-9135 (or +44 (0) 2071 928338 internationally) with access code 4776937. The call will also be available via webcast on the company's website. A replay will be accessible until May 11, 2022. Innospec specializes in specialty chemicals across various markets globally.

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.