NewMarket Corporation

Net income for Q2 2026 was $134 million, or $14.54 per share, versus $111 million, or $11.84 per share in Q2 2025. First-half 2026 net income was $252 million, or $27.14 per share, versus $237 million, or $25.11 per share a year ago. Petroleum Additives Q2 sales were $676 million versus $654 million, and operating profit was $149 million versus $140 million; first-half sales were $1.3 billion, essentially flat, and operating profit was $284 million versus $282 million. Specialty Materials Q2 sales were $67 million versus $42 million, and operating profit was $22 million versus $11 million; first-half sales were $125 million versus $96 million, and operating profit was $35 million, essentially flat versus last year. Management did not provide formal next-quarter or full-year numeric guidance, but said it expects substantial quarterly variation in Specialty Materials and additional capacity for ammonium perchlorate and high-purity hydrazine to come online toward the end of 2026.

The lead commentary emphasized operating well in a fast-changing environment tied to Middle East conflict-related supply chain disruptions. Management said it remains focused on efficiency, cost control, technology investment, and strengthening the supply network to meet customer needs. It also highlighted a commitment to long-term value creation, safety, customer-focused solutions, and a world-class supply chain.

Tim Fitzgerald said the quarter benefited from surcharges implemented to offset higher costs from supply chain disruptions in the Middle East, which helped Petroleum Additives operating profit. He noted solid cash flow in the first half of 2026, with $182 million returned to shareholders through $56 million of dividends and $126 million of repurchases. He also pointed to leverage improvement, with net debt-to-EBITDA at 1.0x as of June 30, 2026.

There was no analyst Q&A in the transcript, only prepared remarks and an invitation to follow up by email or phone. Management did not face any direct questions about demand, margins, or capital allocation on the call. The closest discussion of risk was the expectation of substantial quarterly variability in Specialty Materials and ongoing operational disruption from the Middle East conflict.