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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 full-year net income of $190.9 million with earnings per share of $17.71, down from $270.6 million and $24.64 per share in 2020. The fourth quarter net income was $17.2 million, significantly lower than $66.9 million in Q4 2020. Although petroleum additives sales rose to $2.3 billion, operating profit decreased to $281.1 million. Challenges included rising raw material costs and supply chain disruptions, influencing margins, which fell to 12.0% from 16.7%. Share repurchases totaled 566,671 shares in 2021.
NewMarket Corporation (NYSE: NEU) is set to announce its fourth quarter and full year 2021 earnings on February 2, 2022. The results will be available on the Company’s website the following day. A conference call will occur on February 3, 2022, at 3:00 PM EST to discuss the financial results. Investors can join the call by dialing the provided numbers or accessing it via the Company’s website. NewMarket develops and distributes chemical additives through its subsidiaries, enhancing petroleum products' performance.
The Board of Directors of NewMarket Corporation (NYSE:NEU) has declared a quarterly dividend of $2.10 per share, payable on January 3, 2022. Shareholders of record as of December 15, 2021 will benefit from this distribution. Additionally, the Board approved a new share repurchase program authorizing the buyback of up to $500 million of common stock through December 31, 2024. This program replaces the previous buyback plan established in December 2018, which is set to expire by the end of 2021.
NewMarket Corporation (NYSE:NEU) reported a third-quarter net income of $52.0 million ($4.80 per share), down from $95.8 million ($8.77 per share) in Q3 2020. Petroleum additives sales rose to $619.1 million, an 11.9% increase year-over-year. However, operating profit decreased to $72.1 million due to rising raw material and conversion costs. The quarterly dividend increased by 10.5% to $2.10 per share, and the company repurchased 292,392 shares for $99.5 million. Year-to-date, net income was $173.7 million, reflecting pressures from supply chain disruptions.
NewMarket Corporation (NYSE: NEU) will announce its third-quarter earnings on October 25, 2021, with results available the following day. A conference call is scheduled for October 26, 2021, at 3:00 pm EDT. Interested parties can join by calling 1-888-506-0062 (domestic) or 1-973-528-0011 (international). A replay of the call will be available until November 2, 2021. NewMarket, through its subsidiaries Afton Chemical and Ethyl Corporation, specializes in developing and delivering chemical additives for petroleum products.
The Board of Directors of NewMarket Corporation (NYSE: NEU) has declared a quarterly dividend of $2.10 per share, payable on October 01, 2021, to shareholders on record as of September 15, 2021. NewMarket, through its subsidiaries Afton Chemical and Ethyl Corporation, specializes in developing and manufacturing chemical additives that enhance petroleum product performance. The company acknowledges potential risks that may impact its operations, including raw material availability, regulatory changes, and competition, as outlined in its 2020 Annual Report.
NewMarket Corporation (NYSE:NEU) reported a net income of $52.0 million for Q2 2021, equating to $4.75 per share, a significant increase from $22.3 million or $2.05 per share in Q2 2020. For the first half of 2021, net income rose to $121.7 million or $11.13 per share, up from $107.9 million in 2020. The petroleum additives segment saw sales climb to $586.6 million, a 43.5% increase year-over-year. However, operating margins at 12.7% fell below historical averages due to rising raw material costs.
NewMarket Corporation (NYSE: NEU) will announce its second quarter 2021 earnings on July 28, 2021, after market close, with details available on its website the next day. A conference call to discuss the financial results is scheduled for July 29, 2021, at 3:00 pm EDT. Participants can join by phone or stream the call online. NewMarket operates through its subsidiaries, Afton Chemical and Ethyl Corporation, providing chemical additives that improve petroleum products, enhancing engine performance and fuel efficiency.
The Board of Directors of NewMarket Corporation (NYSE: NEU) declared a quarterly dividend of $1.90 per share on common stock, payable on July 1, 2021, to shareholders of record by June 15, 2021. NewMarket, through subsidiaries Afton Chemical and Ethyl Corporation, focuses on developing and delivering chemical additives that enhance petroleum products. The company warns that actual results may differ from expectations due to various risks, including supply chain disruptions, competition, regulatory changes, and technological challenges.
NewMarket Corporation (NYSE:NEU) has reported Q1 2021 net income of $69.7 million ($6.38 per share), down from $85.5 million ($7.67 per share) in Q1 2020. Sales in the petroleum additives segment rose 1.4% to $564.9 million. However, operating profit fell 17.2% to $94.1 million due to lower prices and increased raw material costs, despite a 2.6% increase in shipments. Government COVID-19 restrictions have negatively impacted operations, with the company emphasizing the need for margin improvement amidst rising costs.
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