The following is a summary of the NewMarket Corporation (NEU) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 net income was $132 million, up from $111 million from the same period last year, with earnings per share rising to $13.79 from $11.60.

• Petroleum additives sales were slightly down to $663 million compared to $664 million last year.

• Petroleum additives operating profit increased to $157 million, mainly due to lower raw material and operating costs.

• Specialty materials sales for Q3 2024 were $59 million.

Business Progress:

• Completed acquisition of American Pacific Corp., adding the specialty materials segment.

• Strong cash flow production allowed significant dividend payments and manageable capital expenditures.

• Active integration and management of American Pacific Corp. into the business.

• Continued focus on operational excellence and cost efficiency.

Opportunities:

• Expected substantial variation in quarterly results for AMPAC, aligning with pre-acquisition forecasts for full year 2024.

Risks:

• Marginal decline in petroleum additives sales could indicate market challenges.

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