NewMarket (US:NEU)2023-02-01 22:06Financial 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]