NewMarket Corporation (NYSE:NEU) Q2 2023 Earnings Conference Call July 27, 2023 3:00 PM ET Company Participants Bill Skrobacz - Chief Financial Officer Conference Call Participants Operator Good day, everyone, and welcome to the NewMarket Corporation Conference Call and Webcast to review Second Quarter 2023 Financial Results. At this time, all participants have been placed on a listen-only-mode. It is now my pleasure to turn the floor over to your host, Bill Skrobacz. Sir, the floor is yours. Bill Skrobacz ...

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 ...

NewMarket Corporation (NYSE:NEU) Q1 2023 Earnings Conference Call April 27, 2023 3:00 PM ET Company Participants Bill Skrobacz - Chief Financial Officer Operator Greetings and welcome to the NewMarket Corporation Conference Call and Webcast to review First Quarter 2023 Financial Results. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to your host, Mr. Bill Skrobacz. You may begin. Bill Skrobacz Thank you, Ali and thanks to everyone for joining me t ...

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]

NewMarket Corp (NYSE:NEU) Q4 2022 Earnings Conference Call February 1, 2023 3:00 PM ET Company Participants William Skrobacz - VP & CFO Conference Call Participants Operator Good afternoon, and welcome to the NewMarket Corporation Conference Call and Webcast to review Fourth Quarter and Full-Year Financial Results. At this time, all participants are placed on a listen-only mode. It is now my pleasure to turn the floor over to your host, Mr. Bill Skrobacz. Sir, the floor is yours. William Skrobacz Thank you, ...

NewMarket Corp (NYSE:NEU) Q3 2022 Earnings Conference Call October 25, 2022 3:00 PM ET Company Participants Brian Paliotti - VP & CFO Conference Call Participants Operator Good afternoon, ladies and gentlemen, and welcome to the NewMarket Corporation Conference Call and Webcast to review Third Quarter 2022 Financial Results. It is now my pleasure to turn the floor over to your host, Mr. Brian Paliotti, Vice President and Chief Financial Officer of NewMarket Corporation. Sir, the floor is yours. Mr. Paliotti ...

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, 2022 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 ...

Financial Data and Key Metrics Changes - Net income for Q2 2022 was $66 million or $6.54 per share, compared to $52 million or $4.75 per share in Q2 2021, reflecting a significant increase [5] - Petroleum additives net sales reached a record $721 million in Q2 2022, up from $586.6 million in the same period last year [6] - Operating profit for petroleum additives was $91.2 million in Q2 2022, higher than $74.2 million in Q2 2021 [6] - Operating profit margin for petroleum additives was 12.7%, which is significantly lower than historical averages [8] Business Line Data and Key Metrics Changes - Shipments increased by 2.6% between quarterly periods, with lubricant additive shipments rising, while fuel additive shipments decreased [7] - All regions except Latin America contributed to the increase in lubricant additive shipments, while all regions except North America contributed to the decrease in fuel additive shipments [7] Market Data and Key Metrics Changes - The company faced challenges from the global supply network and transportation industry, impacting operational costs [9] Company Strategy and Development Direction - The company remains focused on long-term success, emphasizing customer satisfaction, solid operating results, and long-term value for stakeholders [12] - Margin management is a priority for 2022 due to ongoing upward pressure on operating costs [8] Management Comments on Operating Environment and Future Outlook - Management acknowledged the inflationary environment affecting costs of goods sold inputs and expressed commitment to returning margins to historical levels in the mid to high teens [9] - Capital expenditures for 2022 are expected to be in the range of $55 million to $60 million, slightly below previous estimates due to operational timing [11] Other Important Information - The company funded capital expenditures of $15 million, paid dividends of $21 million, and repurchased $55 million of stock during the quarter [10] - The net debt to EBITDA ratio at the end of the quarter was 2.3 times, slightly above the normal range of 1 to 2 times [10] Q&A Session Summary Question: None provided in the transcript - The conference call concluded without any recorded questions or answers [14]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION NEWMARKET CORPORATION (Exact name of registrant as specified in its charter) Virginia 20-0812170 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 330 South Fourth Street Richmond, Virginia 23219-4350 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code - (804) 788-5000 Securities registered pursuant to Section 12(b) of the Act: WASHINGTON, D. ...