Newmarket Stock Price, News & Analysis

NewMarket (NYSE: NEU) has announced a 10% increase in its quarterly dividend to $2.75 per share, up from the previous $2.50. The dividend will be payable on April 1, 2025, to shareholders of record as of March 17, 2025.

NewMarket operates through three subsidiaries: Afton Chemical and Ethyl , which develop chemical additives for petroleum products, and AMPAC, which manufactures specialty materials for aerospace and defense industries.

NewMarket (NYSE:NEU) reported strong financial results for Q4 and full-year 2024. The company achieved net income of $462.4 million ($48.22 per share) for 2024, up from $388.9 million ($40.44 per share) in 2023. Q4 2024 net income was $110.7 million ($11.56 per share).

The Petroleum additives segment posted sales of $2.6 billion in 2024, with operating profit increasing to $591.9 million from $514.4 million in 2023, driven by lower operating and raw material costs. The newly acquired AMPAC business, reported under the specialty materials segment, generated sales of $141.2 million in 2024, exceeding pre-acquisition expectations.

The company demonstrated strong cash flow management, reducing debt by $373 million since the AMPAC acquisition and maintaining a Net Debt to EBITDA ratio of 1.2, below the target range of 1.5-2.0. NewMarket paid $95.9 million in dividends and invested $57.3 million in capital expenditures during 2024.

NewMarket (NYSE: NEU) has announced its schedule for the release of fourth quarter and full year 2024 financial results. The company will release earnings after market close on Monday, February 3, 2025, followed by a conference call and webcast on Tuesday, February 4, 2025, at 3:00 PM ET.

Investors can access the conference call by dialing 1-888-506-0062 (domestic) or 1-973-528-0011 (international). A replay will be available until February 11, 2025, and the webcast will be accessible for 30 days through the company's website. 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) has announced the promotion of Bryce D. Jewett III to Executive Vice President and General Counsel, effective January 1, 2025. Jewett, who currently serves as Vice President and General Counsel, joined the company in 2020 after working as a Partner at McGuireWoods LLP specializing in Mergers and Acquisitions.

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

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.