Innospec Inc. IOSP shares are buying and selling decrease by 2.37% to $109.97 throughout Tuesday’s after-hours session. The firm reported combined fourth-quarter monetary outcomes.
What Happened?
Innospec reported quarterly earnings of $1.20 per share, which missed the analyst consensus estimate of $1.39. The firm additionally reported quarterly gross sales of $510.70 million that beat the analyst consensus estimate of $485.73 million by 5%. This gross sales determine is a 23.6% enhance over gross sales of $413.2 million in the identical interval final 12 months.
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Innospec says the corporate generated money from working actions of $78.4 million earlier than capital expenditures of $15.1 million within the quarter. Innospec additionally closed the quarter with internet money of $147.1 million, up from internet money of $100.5 million on the finish of the third quarter.
In the fourth quarter, the corporate says it paid its semi-annual dividend of 65 cents per frequent share and repurchased 8,514 of its frequent shares at a value of $700,000.
What Else?
Commenting on the fourth quarter outcomes, Patrick S. Williams, president and CEO, mentioned: “This was another very strong quarter for Innospec. In the quarter and the full-year we delivered double-digit sales and operating income growth with expanded margins. We again benefited from our balanced end-market exposure as some negative impact of year-end customer destocking in Performance Chemicals was offset by continued sequential growth in Oilfield Services and steady results in Fuel Specialties.
According to data from Benzinga Pro, IOSP has a 52-week high of $115.66 and a 52-week low of $83.13.
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