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NewMarket Corporation (NYSE: NEU) is a prominent holding company that oversees operations through its key subsidiaries: Afton Chemical Corporation and Ethyl Corporation. Positioned in the petroleum additives industry, NewMarket Corporation is dedicated to enhancing the performance of lubricating oils and fuels, catering to a myriad of applications in machinery, vehicles, and various equipment.
As a parent company, NewMarket provides strategic leadership, robust guidance, and unwavering support to its subsidiaries. This enables Afton Chemical and Ethyl Corporation to thrive in a dynamically evolving market. By focusing on producing outstanding products, implementing cutting-edge technology, and delivering unparalleled service, NewMarket ensures lasting quality and customer satisfaction.
Afton Chemical Corporation is renowned for its lubricant additives, which are formulated chemical solutions designed to blend with base fluids. These additives significantly improve the efficiency, durability, performance, and functionality of mineral oils, synthetic oils, and biodegradable fluids. This division is essential in enhancing the overall performance and lifespan of various lubricants used in industrial and automotive applications.
Ethyl Corporation specializes in fuel additives. These chemical components assist oil refiners in meeting stringent fuel specifications and provide formulated packages that elevate the performance of gasoline, diesel, biofuels, and other fuels. By focusing on regulatory compliance and performance enhancement, Ethyl Corporation ensures that fuels meet the highest standards of quality and efficiency.
Latest Achievements: NewMarket Corporation consistently innovates and adapts to market demands. Recent milestones include advancements in additive technology and the expansion of global partnerships, which bolster its market presence and reinforce its commitment to quality and sustainability.
Current Projects: The company is actively involved in developing next-generation additives that align with evolving environmental standards and performance requirements. By investing in research and development, NewMarket aims to lead the industry towards a more sustainable and efficient future.
Overall, NewMarket Corporation exemplifies excellence in the petroleum additives sector, driving progress through its subsidiaries while maintaining a steadfast commitment to quality, technology, and customer service.
NewMarket Corporation (NYSE:NEU) reported a robust second quarter of 2022, with net income rising to $66.5 million compared to $52.0 million in Q2 2021. Earnings per share climbed to $6.54. For the first half, net income reached $125.8 million, marking a slight increase from $121.7 million year-over-year. Sales in the petroleum additives segment hit a record $1.4 billion, up 20% from the previous year. Despite increased profits, the company highlighted ongoing challenges from inflation and supply chain disruptions, emphasizing cost control and margin recovery as priorities.
Afton Chemical Corporation has completed a $70 million investment in its Sauget, IL plant to enhance Automatic Transmission Fluid (ATF) additive production. This expansion aims to meet the rising demand for electric vehicle (EV) fluids, including hybrid and battery electric vehicles. The company has invested over $500 million globally since 2016 to improve its manufacturing capabilities. The Sauget facility, operational since 1975, is recognized for its high manufacturing standards.
NewMarket Corporation (NYSE: NEU) will release its second quarter 2022 earnings on August 2, 2022, after market close. Following this, the company will host a conference call on August 3, 2022, at 3:00 pm EDT, to discuss the financial results. Investors can access the announcement on the company's website, www.NewMarket.com, and listen to the live call or its replay through the same platform. NewMarket, through its subsidiaries, specializes in manufacturing chemical additives for petroleum products.
NewMarket Corporation (NYSE: NEU) declared a quarterly dividend of $2.10 per share, payable on July 1, 2022, for shareholders of record by June 15, 2022. NewMarket, through subsidiaries Afton Chemical Corporation and Ethyl Corporation, specializes in chemical additives enhancing petroleum products. The press release highlights forward-looking statements, cautioning shareholders about potential risks affecting business operations, including supply chain issues, competition, and regulatory factors. Stakeholders are advised to review detailed risk factors in NewMarket's filings with the Securities and Exchange Commission.
NewMarket Corporation (NYSE:NEU) reported a net income of $59.3 million for Q1 2022, down from $69.7 million in Q1 2021, translating to earnings per share of $5.75. Despite an increase in sales for the petroleum additives segment to $660.3 million from $564.9 million, operating profit decreased to $86.9 million due to rising raw material costs. Shipments rose 2.3% overall, although challenges from supply chain disruptions persist. The company continues to prioritize margin recovery, cost control, and enhancing supply chain performance.
Afton Chemical has launched Greenclean™ 3, an advanced diesel fuel detergent technology now available in North America. This new product enhances performance in heavy-duty fleets and off-road equipment, boasting a robust detergent system that reduces emissions and improves fuel economy. Key benefits include protection against deposits, enhanced filterability, and reduced complexity in additive handling. The development is backed by Afton's industry experience and has been validated in real-world conditions, indicating strong fuel economy benefits.
NewMarket Corporation (NYSE: NEU) will release its first quarter 2022 earnings on April 27, 2022, after market close. A conference call to discuss the results is scheduled for April 28, 2022, at 3:00 PM EDT. The call can be accessed by phone or via the company’s website. NewMarket Corporation, through its subsidiaries Afton Chemical and Ethyl Corporation, focuses on developing and delivering chemical additives for petroleum products, enhancing performance and sustainability across the industry.
NewMarket Corporation (NYSE: NEU) announced the election of Ting Xu to its Board of Directors, effective February 24, 2022. Xu is the Founder and Chairwoman of Evergreen Enterprises, and the Chairwoman and Majority Owner of Plow & Hearth and Vivaterra. She will also serve on the Nominating & Corporate Governance and Compensation Committees. Chairman and CEO Thomas E. Gottwald expressed enthusiasm for her extensive business background and leadership experience. NewMarket develops chemical additives through its subsidiaries, enhancing the performance of petroleum products.
The Board of Directors of NewMarket Corporation (NYSE: NEU) has declared a quarterly dividend of $2.10 per share on common stock, payable on April 1, 2022, to shareholders of record by March 15, 2022. NewMarket, along with its subsidiaries Afton Chemical Corporation and Ethyl Corporation, specializes in developing chemical additives for petroleum products, enhancing performance and environmental sustainability. The company acknowledges potential risks affecting its operational performance, including raw material availability and technological changes.
NewMarket Corporation (NYSE: NEU) has announced the redemption of its entire $350 million principal amount of 4.10% Senior Notes due March 15, 2022. The redemption will include 100% of the principal amount, applicable premium, and accrued interest. This action will be funded using cash from the previously issued $400 million 2.70% Senior Notes due 2031, completed in March 2021. A notice of redemption will be sent to current holders of the 2022 Notes. NewMarket, through its subsidiaries, specializes in chemical additives to enhance petroleum product performance.
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