Innospec Q2 EPS rises to $1.24 as revenue falls 9% to $435.0 million
Innospec reported second-quarter 2024 net sales of $435.0 million, down 9% from $480.4 million a year earlier, while net income rose to $31.2 million, or $1.24 per diluted share, from $28.9 million, or $1.16. Management said Oilfield Services sales were hit by lower production chemical activity and expects lower sales there to continue through the second half of 2024, while Performance Chemicals and Fuel Specialties improved.
Key points
- Net sales were $435.0 million versus $480.4 million; net income was $31.2 million, or $1.24 per diluted share, versus $28.9 million, or $1.16.
- Oilfield Services operating income fell to $7.3 million from $28.0 million, while Performance Chemicals operating income rose to $21.2 million from $9.2 million.
- Adjusted non-GAAP EPS was $1.39 per diluted share, compared with $1.28 a year earlier.
- As of June 30, 2024, the company had $240.2 million in cash and cash equivalents and no debt.
The filing
Written by AI on Nov 8, 2026, 1:55 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 07, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.