NewMarket Corporation reported third‑quarter 2025 net income of $100.3 million, or $10.67 per share, down from $132.3 million ($13.79) in the same period last year. Net sales fell to $690.3 million, a 4.1 % decline versus $724.9 million in Q3 2024. Operating profit was $131.3 million, a 16.5 % drop from $157.5 million, and EBITDA was $176.7 million, down from $212.7 million.
The petroleum additives segment generated $649.1 million in sales, a 4.1 % year‑over‑year decline, and operating profit of $131.3 million, down 16.5 % from $157.5 million. The specialty materials segment posted sales of $38.2 million and operating profit of $6.0 million in Q3, but for the first nine months of 2025 the segment earned $39.7 million in operating profit, up from $16.0 million in the same period in 2024.
Cash and cash equivalents were $102.5 million at September 30, 2025, up from $77.5 million at the end of 2024. The company declared a quarterly dividend of $3.00 per share, a 9 % increase from the prior quarter, and completed $77.2 million in share repurchases. Long‑term debt was reduced by $188.2 million, bringing net debt to EBITDA to 0.9 as of September 30, 2025.
NewMarket closed its acquisition of Calca Solutions, LLC on October 1, 2025. Calca is a leading producer of ultra‑pure hydrazine for aerospace and defense applications. The acquisition is expected to be accretive to net income in 2026 and supports the company’s strategy to expand its high‑technology specialty materials portfolio.
Management attributed the earnings decline to one‑time restructuring charges associated with optimizing the global manufacturing network and increased technology‑investment expenses. The company also noted a 4.6 % decline in overall shipments, primarily in lubricant additives, offset by a modest increase in fuel‑additive sales.
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