NewMarket (NEU)

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NewMarket (NEU) - 2022 Q4 - Earnings Call Transcript
2023-02-01 22:06
Financial Data and Key Metrics Changes - Net income for Q4 2022 was $91 million or $9.26 per share, while net income for the full year was $280 million or $27.77 per share, compared to $191 million or $17.71 per share for 2021 [4] - Operating profit increase for the year was mainly due to increased selling prices, partially offset by higher raw material and operating costs [5] - Working capital increased by $204 million, with capital expenditures funded at $56 million and $292 million returned to shareholders through dividends and share repurchases [14] Business Line Data and Key Metrics Changes - Petroleum additives sales for Q4 were $680 million, reaching $2.8 billion for 2022 compared to $2.3 billion for 2021 [13] - Petroleum additives operating profit for Q4 was $117 million, totaling $378 million for 2022 compared to $281 million for 2021 [13] - Petroleum additives operating margin for 2022 was 13.7%, down from 16.5% in 2019 [15] Market Data and Key Metrics Changes - Shipments decreased by 2.9% year-over-year, primarily due to declines in lubricant additives shipments, influenced by supply chain disruptions and sanctions from the Russia-Ukraine war [5] Company Strategy and Development Direction - The company plans capital investments in the range of $70 million to $80 million for 2023, focusing on long-term value creation for shareholders and customers [6][18] - The company emphasizes a long-term view, safety-first culture, customer-focused solutions, technology-driven product offerings, and world-class supply chain capabilities [16] Management Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges from inflationary pressures and rising operating costs expected to continue into 2023 [7] - Margin recovery and cost control will remain priorities throughout 2023 [18] Other Important Information - The company intends to file its 2022 10-K towards the end of February, which will provide more detailed operational performance insights [12] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating a lack of detailed interaction during the Q&A segment [19]
NewMarket (NEU) - 2022 Q3 - Earnings Call Transcript
2022-10-25 21:37
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 ...
NewMarket (NEU) - 2022 Q3 - Quarterly Report
2022-10-25 12:39
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 ...
NewMarket (NEU) - 2022 Q2 - Earnings Call Transcript
2022-08-08 04:12
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]
NewMarket (NEU) - 2022 Q2 - Quarterly Report
2022-08-03 13:27
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. ...
NewMarket (NEU) - 2022 Q1 - Earnings Call Transcript
2022-04-29 02:00
NewMarket Corporation (NYSE:NEU) Q1 2022 Earnings Conference Call April 28, 2022 3:15 PM ET Company Participants Brian Paliotti - Vice President and Chief Financial Officer Conference Call Participants Operator Good afternoon, ladies and gentlemen and welcome to the NewMarket Corporation Conference Call and Webcast to review First Quarter 2022 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, Chief Financial ...
NewMarket (NEU) - 2022 Q1 - Quarterly Report
2022-04-28 13:12
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 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements ...
NewMarket (NEU) - 2021 Q4 - Annual Report
2022-02-15 15:52
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Incorporated pursuant to the Laws of the Commonwealth of Virginia Internal Revenue Service Employer Identification No. 20-0812170 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, 2021 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 ...
NewMarket (NEU) - 2021 Q4 - Earnings Call Transcript
2022-02-03 21:12
NewMarket Corporation (NYSE:NEU) Q4 2021 Earnings Conference Call February 3, 2022 3:00 PM ET Company Representatives Brian Paliotti - Vice President, Chief Financial Officer Conference Call Participants Operator Good afternoon ladies and gentlemen and welcome to the NewMarket Corporation Conference Call and webcast to review the Fourth Quarter 2021 and Full Year 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 hos ...
NewMarket (NEU) - 2021 Q3 - Earnings Call Transcript
2021-10-26 21:41
NewMarket Corporation (NYSE:NEU) Q3 2021 Earnings Conference Call October 26, 2021 3:00 PM ET Company Participants Brian Paliotti - Chief Financial Officer Operator Good day, ladies and gentlemen and welcome to the NewMarket Corporation Conference Call and Webcast to review Third Quarter 2021 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, Brian Paliotti. Sir, the floor is yours. Brian Paliotti Thank you, Ka ...