Innospec Inc. announced consolidated earnings results for the third quarter and nine ended September 30, 2017. For the quarter, the company reported net sales of $332.4 million against $205.5 million a year ago. Operating income was $30.2 million against $18.9 million a year ago. Income before income taxes was $29.9 million against $13.2 million a year ago. Net income was $23.3 million against $11.4 million a year ago. Diluted earnings per share were $0.95 against $0.47 a year ago. Adjusted EBITDA was $44.5 million against $21.2 million a year ago. Non- GAAP income before income taxes was $33.1 million against $22.9 million a year ago. Non- GAAP net income was $24.6 million against $19.1 million a year ago. Excluding special items adjusted EPS was $1.00 per share compared to $0.78 reported in the third quarter of 2016.

For the nine months, the company reported net sales of $953.0 million against $645.6 million a year ago. Operating income was $91.3 million against $73.1 million a year ago. Income before income taxes was $87.9 million against $74.1 million a year ago. Net income was $66.6 million against $59.2 million a year ago. Diluted earnings per share were $2.71 against $2.42 a year ago. Adjusted EBITDA was $132.6 million against $98.3 million a year ago. Net cash provided by operating activities was $35.2 million against $87.0 million a year ago. Capital expenditures were $16.4 million against $12.2 million a year ago. The company closed the quarter with net debts of $169.6 million compared to $206.1 million at the end of the last quarter.

For the year 2017, the expected tax rate is at 25%.

For the year 2018, the company announced that the maintenance capital expenditure to be around about $25 million to $30 million unless there's a specific project that it want to invest in.