NewMarket Corporation reported financial results for the third quarter and first nine months of 2026. For the third quarter ended September 30, 2026, the company recorded net income of $124.1 million, or $13.50 per share. This represents an increase from the $100.3 million, or $10.67 per share, reported for the same period in 2025. For the first nine months of 2026, net income was $375.9 million, or $40.64 per share, compared to $337.5 million, or $35.78 per share, during the first nine months of 2025.
The company attributes the increase in net income to higher operating profit and a reduced effective tax rate. Petroleum additives sales for the third quarter of 2026 were $651.0 million, compared to $649.1 million in the prior year. Operating profit for the petroleum additives segment was $130.9 million for the third quarter of 2026, compared to $131.3 million in 2025. Despite a 6% decline in shipments for the first nine months of 2026 compared to 2025, the company implemented surcharges to offset higher costs.
Specialty materials sales for the third quarter of 2026 were $62.0 million, compared to $38.2 million in the prior year. This increase is attributed to a shift in product shipment mix and the inclusion of the Calca Solutions, LLC business acquired on October 1, 2025. Operating profit for the specialty materials segment was $16.4 million for the third quarter of 2026, compared to $6.0 million in 2025.
Regarding capital allocation, NewMarket Corporation generated solid cash flow during the first nine months of 2026. The company funded capital expenditures of $88.5 million, paid dividends of $83.1 million, and repurchased over 200,000 shares of common stock for $126.4 million. The company also reported a Net Debt to EBITDA ratio of 1.0x.
