NewMarket (NYSE:NEU) reported first-quarter 2026 net income of $118 million, or $12.62 per share, down from $126 million, or $13.26 per share, in the first quarter of 2025, according to comments on the company’s earnings call led by CFO Tim Fitzgerald.
First-quarter results and segment performance
Fitzgerald said petroleum additives sales were $610 million for the first quarter of 2026, compared to $646 million in the prior-year period. Petroleum additives operating profit totaled $135 million, down from $142 million a year earlier.
In specialty materials—which includes the company’s AMPAC business as well as its newly acquired Calca Solutions business—NewMarket posted sales of $58 million, up from $54 million in the first quarter of 2025. Fitzgerald said the increase was “mainly due to the inclusion of the Calca business, which was acquired on October 1st, 2025,” partially offset by “a shift in shipment mix at AMPAC versus the first quarter of last year.”
Specialty materials operating profit fell to $12 million from $23 million in the prior-year quarter. Fitzgerald said the decline was “mainly due to the change in quarterly shipment mix at AMPAC compared to last year,” and he reiterated that the segment can produce “substantial variation in quarterly results…due to the nature of the business.”
Market conditions and operating actions
Fitzgerald said NewMarket was operating in a rapidly changing environment due to the conflict in the Middle East, describing it as a key factor affecting the operating backdrop during the quarter. He said the company implemented “price adjustments to account for the escalating cost of raw materials, utilities, and logistics,” and also “rebalanced our global production to make sure we are meeting customer demands in a dynamically evolving market.”
Despite the challenges, Fitzgerald said the company remains focused on efficiency and cost discipline. He outlined priorities that include “investing in technology and our supply network to meet customer demands, enhancing our operational efficiency and improving our portfolio profitability.”
Cash flow, shareholder returns, and leverage
NewMarket returned $154 million to shareholders during the first quarter, Fitzgerald said, including $126 million in share repurchases and $28 million in dividends. He also reported that as of March 31, 2026, the company’s net debt-to-EBITDA ratio was 1.2 times.
Outlook and priorities
Looking ahead, Fitzgerald said the company is “committed to making decisions that promote long-term value for our shareholders and customers while staying focused on our long-term objectives.” He pointed to several principles he said guide the business, including “a long-term perspective, a safety-first culture, customer-focused solutions, technology-driven products, and a world-class supply chain.”
The call did not include a live question-and-answer session. Fitzgerald said he would be available for follow-up questions “via email or by phone.”
About NewMarket (NYSE:NEU)
NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.
In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.
