Financial Performance - Net income for Q2 2024 was $111.6 million, or $11.63 per share, up from $99.6 million, or $10.36 per share in Q2 2023, representing a 20% increase in net income [4]. - Earnings per share for the first half of 2024 were $22.87, compared to $20.45 in the same period of 2023, indicating a 11% increase [4]. - Net income for the six months ended June 30, 2024, was $219,352 thousand, a 11.6% increase compared to $197,207 thousand for the same period in 2023 [25]. - EBITDA for the second quarter ended June 30, 2024, reached $187,842 thousand, up 21.3% from $154,862 thousand in the second quarter of 2023 [26]. - The company reported a gross profit of $434.8 million for the first half of 2024, up from $393.7 million in the same period of 2023 [23]. Sales and Operating Profit - Petroleum additives sales for Q2 2024 were $669.8 million, a decrease from $684.0 million in Q2 2023, while operating profit increased to $147.8 million from $132.1 million, reflecting improved margins despite lower selling prices [5]. - For the first half of 2024, petroleum additives sales totaled $1.3 billion, down from $1.4 billion in the same period of 2023, but operating profit rose to $298.7 million from $264.2 million, driven by a 2.7% increase in shipments [6]. - The specialty materials segment reported sales of $38.0 million in Q2 2024, with an operating profit of $5.0 million, compared to a loss of $5.0 million in Q1 2024 [8]. Cash Flow and Dividends - Cash flows from operations in the first half of 2024 were solid, with capital expenditures of $28.5 million and dividends paid amounting to $48.0 million [10]. - Cash dividends declared per share increased to $2.50 in Q2 2024 from $2.25 in Q2 2023 [23]. - The company paid dividends totaling $47,972 thousand in the first half of 2024, compared to $41,879 thousand in the same period of 2023, marking a 14.9% increase [25]. Debt and Leverage - Since the acquisition of American Pacific Corporation (AMPAC), the company has reduced debt by $171 million, with a Net Debt to EBITDA ratio of 1.6 as of June 30, 2024 [11]. - Long-term debt rose to $1,172,732 thousand as of June 30, 2024, compared to $643,622 thousand at December 31, 2023, indicating a significant increase of 82.3% [27]. - Net Debt to EBITDA ratio increased to 1.6 as of June 30, 2024, compared to 0.9 at December 31, 2023, reflecting a higher leverage position [27]. Assets and Retained Earnings - Total assets increased to $3,150,071 thousand as of June 30, 2024, up from $2,308,871 thousand at December 31, 2023, representing a growth of 36.5% [24]. - Retained earnings increased to $1,267,393 thousand as of June 30, 2024, up from $1,096,002 thousand at December 31, 2023, reflecting a growth of 15.6% [24]. Cash and Capital Expenditures - Cash and cash equivalents decreased to $87,632 thousand as of June 30, 2024, down from $111,936 thousand at December 31, 2023, a decline of 21.6% [24]. - Capital expenditures for the six months ended June 30, 2024, were $28,533 thousand, slightly higher than $26,006 thousand in the same period of 2023 [25]. - The company reported a decrease in cash and cash equivalents of $24,304 thousand for the six months ended June 30, 2024, compared to an increase of $62,211 thousand in the same period of 2023 [25]. Future Outlook - The company anticipates continued strength in the petroleum additives segment and is focused on the integration of AMPAC into its operations [12].

Core Insights - NewMarket (NYSE:NEU) is a holding company with subsidiaries Afton Chemical and Ethyl Corp., focusing on petroleum additives and specialty materials [1][4][17] - The company recently acquired AMPAC for approximately $700 million, which has impacted its financial results, particularly in the specialty materials division [4][5][17] Financial Performance - In Q1 2024, NewMarket reported total revenue of $697 million, a decrease of just under 1% year-over-year, while gross profit increased by over 9% to just over $216 million [11][16] - Operating profit in the petroleum additives division was nearly $151 million, contrasting with a negative operating profit of $5 million in the specialty materials division [7][11] - The company generated underlying free cash flow of $110 million, with a reported operating cash flow of approximately $124 million after accounting for working capital investments [4][8] Debt and Cash Flow - As of the end of Q1 2024, NewMarket had $117 million in cash and $1.28 billion in gross debt, resulting in a net debt level of $1.16 billion, up from $531 million at the end of the previous year [4][14] - The company anticipates ending the year with a net debt of less than $1 billion and a debt ratio closer to 1.5 times EBITDA, which is in line with its internal targets [14][19] Acquisition Impact - The AMPAC acquisition contributed to an operating loss in the specialty materials division, attributed to non-recurring items and transaction-related expenses [5][17] - NewMarket expects improved results from the specialty materials division in the upcoming quarters, aligning with pre-acquisition expectations [17] Earnings and Valuation - Net income for Q1 2024 was $107.7 million, reflecting an increase of over 10% compared to the same quarter last year, resulting in earnings per share of $11.23 [16][19] - The stock is currently trading at about 9.5 times projected full-year EBITDA of $625 million, with expectations for this multiple to decrease as debt is repaid and the AMPAC acquisition begins to contribute positively [19]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-32190 NEWMARKET CORPORATION (Exact name of registrant as specified in its charter) Virginia 20-0812170 (State or other juri ...

EXHIBIT 99.1 NewMarket Corporation Reports First Quarter 2024 Results Richmond, VA, April 24, 2024 – NewMarket Corporation (NYSE:NEU) Chairman and Chief Executive Officer, Thomas E. Gottwald, released the following earnings report of the Company's operations for the first quarter of 2024. Net income for the first quarter of 2024 was $107.7 million, or $11.23 per share, compared to net income of $97.6 million, or $10.09 per share, for the first quarter of 2023. Petroleum additives sales for the first quarter ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-32190 NEWMARKET CORPORATION Incorporated pursuant to the Laws of the Commonwealth of Virginia Internal Revenue Service Employer ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-32190 NEWMARKET CORPORATION (Exact name of registrant as specified in its charter) Virginia 20-0812170 (State or other ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-32190 NEWMARKET CORPORATION (Exact name of registrant as specified in its charter) Virginia 20-0812170 (State or other juris ...

Financial Data and Key Metrics Changes - Net income for Q1 2023 was $98 million or $10.09 per share, compared to $59 million or $5.75 per share in Q1 2022, representing a significant increase [11] - Petroleum additives net sales increased to $700 million in Q1 2023 from $660 million in Q1 2022, a growth of 6% [11] - Shipments decreased by 15% year-over-year, with declines in lubricant additives and fuel additive shipments across all regions except for a small increase in North America [11] Business Line Data and Key Metrics Changes - Petroleum additives operating profit for Q1 2023 was $132 million, up from $87 million in Q1 2022, primarily due to increased selling prices, despite higher raw material and operating costs [7] - Operating margin for the rolling four quarters ended March 31, 2023, was 15.2%, at the lower end of the company's long-term expectations [12] Market Data and Key Metrics Changes - Shipments have been lower than expectations due to a general economic slowdown and customer destocking, with the overall market expected to grow annually in the low single-digit range [3] - Improvements in supply chain disruptions have been noted, although inflation remains a concern [8] Company Strategy and Development Direction - The company aims to exceed the low single-digit growth rates of the overall market and is focused on long-term value creation for shareholders and customers [3][8] - Capital expenditures for the year are expected to be in the range of $60 million to $70 million, slightly lower than previous estimates due to operational timing [12] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of cost control and margin recovery as high priorities amid ongoing inflation concerns [8] - The company maintains a low leverage position with a net debt-to-EBITDA ratio of 1.7x, within the normal range [12] Other Important Information - The company returned $49 million to shareholders through dividends and share repurchases during the quarter [3] Q&A Session Summary - No Q&A session was conducted during this conference call [13]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-32190 NEWMARKET CORPORATION (Exact name of registrant as specified in its charter) Virginia 20-0812170 (State or other juri ...

Financial Performance - Consolidated net sales for 2022 amounted to $2.8 billion, an increase of $409 million, or 17.3% from 2021[146] - Net sales for 2022 reached $2,764.8 million, a 17.3% increase from $2,356.1 million in 2021[251] - Petroleum additives net sales for 2022 were $2.754 billion, approximately 17.5% higher than 2021 levels, with North America contributing about 54% of the increase[149] - Gross profit for 2022 was $640.5 million, up from $547.7 million in 2021, reflecting a gross margin improvement[251] - Operating profit increased to $355.1 million in 2022, compared to $257.8 million in 2021, marking a 37.8% growth[251] - Net income for 2022 was $279.5 million, a 46.5% increase from $190.9 million in 2021[251] - Earnings per share (EPS) for 2022 were $27.77, up from $17.71 in 2021, representing a 56.8% increase[251] Operating Segments - Operating profit for the petroleum additives segment increased by $97 million to $378 million in 2022, with an operating profit margin of 13.7%[156][157] - The petroleum additives operating profit was 34.6% higher in 2022 compared to 2021, reflecting higher selling prices[137] - Segment operating profit for petroleum additives was $378.2 million in 2022, compared to $281.1 million in 2021, representing a 34.5% increase[311] Cash Flow and Capital Management - Cash generated from operating activities was $109 million in 2022, down from $165 million in 2021, reflecting a decrease of 34%[166] - The company redeemed $350 million of 4.10% senior notes and repurchased $207 million of common stock in 2022, utilizing cash from operations and proceeds from marketable securities[167] - Cash and cash equivalents decreased to $69 million at December 31, 2022, compared to $83 million at the end of 2021[169] - The company repurchased 668,553 shares of common stock for a total of $207 million during 2022[139] - Cash dividends paid in 2022 were $84,263,000, slightly down from $85,910,000 in 2021[260] Debt and Equity - Long-term debt decreased from $1.1 billion at December 31, 2021, to $1.0 billion at December 31, 2022, primarily due to the redemption of senior notes[181] - Total long-term debt at December 31, 2022, was $1 billion, with $361 million in variable rate debt under the revolving credit facility[231] - The total long-term debt as a percentage of total capitalization decreased from 59.9% at the end of 2021 to 56.8% at the end of 2022[182] - The company's pension benefit obligation was $466 million as of December 31, 2022[246] Investments and Expenditures - Research and development (R&D) investment decreased by approximately $4 million, representing 5.1% of net sales in 2022 compared to 6.1% in 2021[162] - Capital expenditures were $56 million in 2022, with an estimated range of $70 million to $80 million for 2023, focusing on manufacturing and R&D improvements[186] - Corporate additions to long-lived assets were $3,983 thousand in 2022, significantly higher than $686 thousand in 2021[315] Market Outlook and Challenges - The company anticipates challenges in 2023 due to ongoing inflationary pressures and supply chain issues[141] - The petroleum additives market is expected to grow at a rate of 1% to 2% annually, with the company planning to exceed this growth rate in the long term[213] Pension and Retirement Plans - An actuarial loss of $149 million was recorded in 2022 due to actual investment returns being less than expected for U.S. qualified pension plans[197] - The expected aggregate cash contributions to the U.S. pension plans are approximately $3 million, and to the postretirement benefit plans are approximately $2 million in 2023[203] - The expected long-term rate of return for the U.K. pension plan was 6.7% at December 31, 2022, based on the actual asset allocation and expected yields[206] - The company expects aggregate U.K. cash contributions to be approximately $4 million in 2023[211] Financial Position - Total assets decreased to $2,406.8 million in 2022 from $2,558.4 million in 2021, a decline of 5.9%[256] - Total shareholders' equity remained relatively stable at $762.4 million in 2022 compared to $762.1 million in 2021[256] - The company maintained effective internal control over financial reporting as of December 31, 2022, according to the independent auditor's opinion[238]