INNOSPEC INC
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
IOSP$77.72-3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||
|---|---|---|---|---|
| (in millions, except share and per share data) | 2024 | 2023 | 2024 | 2023 |
| Net sales | $435.0 | $480.4 | $935.2 | $990.0 |
| Cost of goods sold | (308.1) | (330.0) | (652.6) | (691.8) |
| Gross profit | 126.9 | 150.4 | 282.6 | 298.2 |
| Operating expenses: | ||||
| Selling, general and administrative | (73.4) | (105.6) | (166.1) | (201.8) |
| Research and development | (12.2) | (10.6) | (24.0) | (21.2) |
| Adjustment to fair value of contingent consideration | (0.6) | — | (1.4) | — |
| Profit on disposal of property, plant and equipment | — | — | 0.1 | — |
| Total operating expenses | (86.2) | (116.2) | (191.4) | (223.0) |
| Operating income | 40.7 | 34.2 | 91.2 | 75.2 |
| Other income, net | 0.9 | 2.7 | 3.6 | 6.4 |
| Interest income/(expense), net | 2.1 | (0.3) | 4.2 | — |
| Income before income tax expense | 43.7 | 36.6 | 99.0 | 81.6 |
| Income tax expense | (12.5) | (7.7) | (26.4) | (19.5) |
| Net income | $31.2 | $28.9 | $72.6 | $62.1 |
| Earnings per share: | ||||
| Basic | $1.25 | $1.16 | $2.91 | $2.50 |
| Diluted | $1.24 | $1.16 | $2.89 | $2.48 |
| Weighted average shares outstanding (in thousands): | ||||
| Basic | 24,937 | 24,868 | 24,918 | 24,835 |
| Diluted | 25,097 | 24,980 | 25,091 | 25,010 |
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