NewMarket Q3 profit rises to $124 million on higher operating profit

NewMarket Corporation (NEU) said on Oct. 28, 2026 that third-quarter net income rose to $124.1 million, or $13.50 per share, from $100.3 million, or $10.67 per share, a year earlier. Revenue was $716.5 million, compared with $690.3 million in the third quarter of 2025.

The company said higher operating profit and a reduced effective tax rate were the primary drivers of the increase in net income for both the quarter and the first nine months.

Here's how the company did:

• Net income: $124.1 million, or $13.50 per share, vs. $100.3 million, or $10.67 per share, a year earlier
• Revenue: $716.5 million vs. $690.3 million a year earlier
• Nine-month net income: $375.9 million, or $40.64 per share, vs. $337.5 million, or $35.78 per share
• Nine-month revenue: $2.13 billion vs. $2.09 billion a year earlier

Chairman and Chief Executive Officer Thomas E. Gottwald said, "We are pleased with the performance of both our petroleum additives and specialty materials segments during the first nine months of 2026."

Segment results

Petroleum additives sales were $651.0 million in the third quarter, compared with $649.1 million a year earlier. Segment operating profit was $130.9 million, against $131.3 million.

The company said broader market softness in lubricant additives resulted in an 8% decline in shipments. It said it implemented surcharges to offset higher costs from supply chain disruptions in the Middle East.

For the first nine months, petroleum additives sales were $1.9 billion in both 2026 and 2025, and shipments fell 6%. The company said the decline reflected the first-half effects of its decision to examine and reduce low-margin business.

Specialty materials sales rose to $62.0 million from $38.2 million. The company attributed the increase to a shift in product shipment mix and the inclusion of Calca Solutions, LLC, which it acquired on Oct. 1, 2025. Segment operating profit was $16.4 million, compared with $6.0 million.

For the first nine months, specialty materials sales were $187.3 million, against $133.9 million, and segment operating profit was $51.2 million, against $39.7 million. The company said capacity expansion projects for ammonium perchlorate and high-purity hydrazine are expected to be completed by the end of 2026.

Cash and capital returns

In the first nine months, the company funded $88.5 million of capital expenditures, paid $83.1 million in dividends and repurchased more than 200 thousand shares of common stock for $126.4 million. It said it reduced its Net Debt to EBITDA ratio to 1.0x.

Cash dividends declared were $3.00 per share in the third quarter, up from $2.75 a year earlier.

Costs and conflict

The company said it continues to monitor the conflict in the Middle East, the uncertain macroeconomic environment, and changes in international trade relations and tariffs. It said its surcharges and operational actions remain in place.

The company will hold a conference call and webcast at 3:00 p.m. ET on Oct. 29, 2026 to review its third-quarter results.