Innospec Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 10:32 am EST
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Innospec Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 464.1 million compared to USD 513 million a year ago. Net income was USD 39.2 million compared to USD 38.7 million a year ago. Basic earnings per share from continuing operations was USD 1.58 compared to USD 1.56 a year ago. Diluted earnings per share from continuing operations was USD 1.57 compared to USD 1.55 a year ago.
For the nine months, sales was USD 1,454.1 million compared to USD 1,453 million a year ago. Net income was USD 101.3 million compared to USD 107.5 million a year ago. Basic earnings per share from continuing operations was USD 4.08 compared to USD 4.34 a year ago. Diluted earnings per share from continuing operations was USD 4.05 compared to USD 4.3 a year ago.
Innospec Inc. develops, manufactures, blends, markets and supplies a wide range of specialty chemicals to customers in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Company operates through three segments: Performance Chemicals, Fuel Specialties and Oilfield Services. The Companyâs Performance Chemicals business creates technology-based solutions for the personal care, home care, agrochemical, construction, mining, and other industrial markets. This segment serves multinational companies, manufacturers of personal care and home care products and global mining, agricultural and building products and other industrial companies. The Companyâs Fuel Specialties segment develops, manufactures, blends, markets and supplies a range of specialty chemical products used as additives in diesel, jet, marine, fuel oil and other fuels. The Companyâs Oilfield Services business supplies drilling, completion and production chemicals.
INNOSPEC INC. 
