NewMarket Corporation - NEU STOCK NEWS

NewMarket (NYSE: NEU) has announced a new share repurchase program authorized by its Board of Directors. The program allows management to repurchase up to $500 million of outstanding common stock through December 31, 2027. This new initiative will replace the existing $500 million repurchase program approved in October 2021, which was set to expire on December 31, 2024.

The company may conduct repurchases through various methods, including open market transactions, private negotiations, block trades, or Rule 10b5-1 trading plans. The program is flexible with no specific share quantity requirement and can be suspended or terminated at any time.

NewMarket (NYSE: NEU) has announced a quarterly dividend of $2.50 per share on its common stock. The dividend will be paid on January 2, 2025, to shareholders of record as of December 16, 2024. The company operates through its subsidiaries Afton Chemical, Ethyl , and American Pacific (AMPAC), which develop and manufacture chemical additives for petroleum products and specialty materials for aerospace and defense industries.

NewMarket (NYSE:NEU) reported strong Q3 2024 results with net income of $132.3 million ($13.79 per share), up from $111.2 million ($11.60 per share) in Q3 2023. For the first nine months of 2024, net income reached $351.7 million ($36.66 per share). Petroleum additives sales remained stable at $663.0 million in Q3, while operating profit increased to $157.5 million from $139.8 million, driven by lower costs. The company's AMPAC acquisition, completed in January 2024, contributed $59.1 million in Q3 sales. NewMarket has reduced debt by $259 million since the AMPAC acquisition, achieving a Net Debt to EBITDA ratio of 1.4.

NewMarket (NYSE: NEU) has announced that William J. Skrobacz will step down as Vice President and Chief Financial Officer on December 31, 2024, with plans to retire in 2025. Skrobacz has been with the company for over 13 years, serving in various finance and accounting roles. Timothy K. Fitzgerald, currently the company's Treasurer and Finance Director, will succeed Skrobacz as VP and CFO effective January 1, 2025.

Fitzgerald, 47, has been with NewMarket for about 10 years and has over 20 years of finance and accounting experience. CEO Teddy Gottwald expressed gratitude for Skrobacz's leadership and excitement about Fitzgerald's appointment, citing his strong financial background and focus on team building.

NewMarket operates through subsidiaries Afton Chemical, Ethyl , and American Pacific , developing and manufacturing chemical additives and specialty materials for various industries.

NewMarket (NYSE: NEU) has announced its schedule for the release of third quarter 2024 financial results. The company plans to release earnings on Wednesday, October 23, 2024 after market close. A conference call and webcast are scheduled for 3:00 pm ET on Thursday, October 24, 2024 to review the results.

Investors can access the conference call by dialing 1-888-506-0062 (domestic) or 1-973-528-0011 (international). A teleconference replay will be available until October 31, 2024. The call will also be broadcast via the internet and can be accessed through the company's website or a provided webcast link.

NewMarket operates through its subsidiaries Afton Chemical, Ethyl , and American Pacific , focusing on chemical additives for petroleum products and specialty materials for aerospace and defense industries.

NewMarket (NYSE: NEU) announced a quarterly dividend of $2.50 per share on its common stock. This dividend will be payable on October 1, 2024, to shareholders recorded by the close of business on September 16, 2024.

NewMarket operates through subsidiaries Afton Chemical , Ethyl , and American Pacific (AMPAC). Afton and Ethyl focus on developing chemical additives to enhance petroleum products, while AMPAC manufactures specialty materials for aerospace and defense industries.

NewMarket (NYSE:NEU) reported strong Q2 and H1 2024 results. Q2 net income was $111.6 million ($11.63 per share), up from $99.6 million in Q2 2023. H1 net income reached $219.4 million ($22.87 per share), compared to $197.2 million in H1 2023. Petroleum additives operating profit increased to $147.8 million in Q2 and $298.7 million in H1, driven by lower costs and increased shipments.

The company completed the acquisition of AMPAC on January 16, 2024, which is now part of the specialty materials segment. This segment reported Q2 sales of $38.0 million and operating profit of $5.0 million. NewMarket has reduced debt by $171 million since the AMPAC acquisition, with a Net Debt to EBITDA ratio of 1.6 as of June 30, 2024.

NewMarket (NYSE: NEU) will release its second-quarter 2024 earnings on July 29, 2024, after market close. The announcement will be available on the company's website the following day. A conference call and webcast to review the financial results are scheduled for July 30, 2024, at 3:00 pm ET. Interested parties can dial into the call or access it through the company's website. A replay will be available until August 6, 2024, and the webcast replay will be accessible for 30 days. NewMarket operates through subsidiaries Afton Chemical, Ethyl , and American Pacific , focusing on chemical additives and specialty materials for various industries.