Financial Data and Key Metrics Changes - Net income for Q3 2025 was $100 million, or $10.67 per share, down from $132 million, or $13.79 per share, in Q3 2024 [3] - For the first nine months of 2025, net income was $337 million, or $35.78 per share, compared to $352 million, or $36.66 per share, for the same period in 2024 [3] - Operating profit for petroleum additives in Q3 2025 was $131 million, down from $157 million in Q3 2024 [3][4] - Total sales for petroleum additives in the first nine months of 2025 were $1.9 billion, compared to $2 billion in the same period of 2024 [4] Business Line Data and Key Metrics Changes - Petroleum additive sales for Q3 2025 were $649 million, compared to $663 million in Q3 2024, with a 4.1% decline in shipments contributing to the decrease [3][4] - Specialty materials sales for Q3 2025 were $38 million, down from $59 million in Q3 2024, while operating profit for this segment was $6 million, compared to $16 million in the prior year [5][6] - For the first nine months of 2025, specialty materials sales were $134 million, up from $114 million in the same period of 2024, with operating profit increasing to $40 million from $16 million [6] Market Data and Key Metrics Changes - Shipments for petroleum additives were down by 4.6% in the first nine months of 2025 compared to the same period in 2024, attributed to market softness and a strategic decision to reduce low-margin business [5] - The company faced challenges from ongoing inflation and tariffs impacting market conditions [5] Company Strategy and Development Direction - The company is focused on optimizing its global manufacturing network to enhance efficiency and product delivery [4] - There is a commitment to investing in technology and improving portfolio profitability, with approximately $1 billion allocated to the specialty materials segment through acquisitions and capacity expansions [6][8] - The Board of Directors approved a 9% increase in the quarterly dividend, reflecting confidence in the strength of the petroleum additives and specialty materials segments [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges from inflation and tariffs but expressed optimism about the performance of the petroleum additives and specialty materials segments [5][9] - The company aims to promote long-term value for shareholders and customers while adhering to core principles such as a long-term perspective and customer-focused solutions [9] Other Important Information - The company generated solid cash flows, returning $155 million to shareholders through share repurchases and dividends, and reduced net debt by $213 million, resulting in a net debt-to-EBITDA ratio of 0.9 times [8] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session.