NEWMARKET CORP
For the period ended Jun 30, 2024. Filed Jul 30, 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 Jul 30, 2024
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Segment Information
- Segment Information
The tables below show our consolidated segment results. The “All other” category includes the operations of the antiknock compounds business, as well as certain contracted manufacturing and related services associated with Ethyl Corporation (Ethyl).
Net Sales by Segment
| Second Quarter Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2024 | 2023 |
| Petroleum additives | ||||
| Lubricant additives | $575,194 | $588,506 | $1,147,109 | $1,191,080 |
| Fuel additives | 94,632 | 95,463 | 199,981 | 192,880 |
| Total | 669,826 | 683,969 | 1,347,090 | 1,383,960 |
| Specialty materials | 38,010 | 0 | 55,057 | 0 |
| All other | 2,392 | 1,161 | 4,817 | 3,959 |
| Net sales | $710,228 | $685,130 | $1,406,964 | $1,387,919 |
Segment Operating Profit
| Second Quarter Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2024 | 2023 |
| Petroleum additives | $147,819 | $132,138 | $298,728 | $264,206 |
| Specialty materials | 4,972 | 0 | 5 | 0 |
| All other | (1,374) | (1,022) | (1,455) | (1,997) |
| Segment operating profit | 151,417 | 131,116 | 297,278 | 262,209 |
| Corporate, general, and administrative expenses | (3,985) | (6,810) | (9,542) | (13,301) |
| Interest and financing expenses, net | (15,910) | (10,255) | (31,564) | (21,028) |
| Other income (expense), net | 11,472 | 10,659 | 24,515 | 21,978 |
| Income before income tax expense | $142,994 | $124,710 | $280,687 | $249,858 |
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