Every material Form 8-K Innospec filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Innospec reported third-quarter 2024 results with revenue down 4% to $443.4 million and GAAP diluted EPS of $1.33, versus $1.57 a year earlier. The board also declared a semi-annual dividend of $0.79 per share, raising the full-year 2024 dividend to $1.55, a 10% increase over 2023.
Total revenue $443.4 million vs $464.1 million a year earlier; net income $33.4 million vs $39.2 million
Adjusted non-GAAP EPS $1.35 vs $1.59 a year earlier; Oilfield Services operating income fell 57% to $7.1 million
Dividend of $0.79 per share payable November 26, 2024, to holders of record on November 18, 2024
Cash and cash equivalents of $303.8 million at September 30, 2024, with no debt
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.
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.
Innospec and its subsidiaries extended the termination date of their $250,000,000 multicurrency revolving loan facility from May 30, 2027 to May 31, 2028, effective May 20, 2024, after all lenders approved the request. The filing states that no other terms of the agreement or facility were changed, and the company paid a customary extension fee.
Innospec reported first-quarter 2024 results for the period ended March 31, 2024. Revenue fell 2% to $500.2 million, while net income rose to $41.4 million, or $1.65 per diluted share, from $33.2 million, or $1.33 per diluted share, a year earlier. The board also declared a semi-annual dividend of $0.76 per share, a 10% increase, payable May 31, 2024 to holders of record on May 20, 2024.
Revenue was $500.2 million, down 2% from $509.6 million a year earlier.
Net income was $41.4 million, or $1.65 per diluted share, versus $33.2 million, or $1.33, a year earlier.
Adjusted non-GAAP EPS was $1.75 per diluted share versus $1.38 a year earlier; cash from operating activities was $80.6 million.
Semi-annual dividend of $0.76 per share, up 10%, payable May 31, 2024 to holders of record on May 20, 2024.
Innospec's Executive Vice President and Chief Operating Officer, Dr. Philip Boon, has informed the company he will retire effective March 31, 2025. After retirement he will provide support to the company on a consultancy basis, with terms to be agreed.
Dr. Philip Boon, EVP and Chief Operating Officer, notified the company on March 31, 2024.
Retirement is effective March 31, 2025, giving the company about one year of notice.
Boon will provide support on a consultancy basis after retirement, on terms still to be agreed.
Innospec reported fourth-quarter 2023 net income of $37.8 million, or $1.51 per diluted share, up from $25.5 million, or $1.02, a year earlier, while quarterly revenue fell 3% to $494.7 million. For the full year, revenue was $1.95 billion, down less than 1%, and GAAP diluted EPS rose to $5.56 from $5.32, so reported profit grew on slightly lower sales.
Q4 2023 revenue $494.7 million, down 3% from $510.7 million
Q4 GAAP diluted EPS $1.51 vs $1.02; adjusted non-GAAP EPS $1.84 vs $1.20
Full-year 2023 revenue $1.95 billion, down less than 1%; GAAP diluted EPS $5.56 vs $5.32
Net cash of $203.7 million at December 31, 2023, after funding the QGP acquisition
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Innospec filing is on SEC EDGAR ↗. 8-K briefs of other companies →