Innospec Inc. IOSP shares are buying and selling decrease by 2.37% to $109.97 throughout Tuesday’s after-hours session. The corporate reported blended fourth-quarter monetary outcomes.

What Occurred?

Innospec reported quarterly earnings of $1.20 per share, which missed the analyst consensus estimate of $1.39. The corporate 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% improve 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 web money of $147.1 million, up from web money of $100.5 million on the finish of the third quarter.

Within 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 price of $700,000.

What Else?

Commenting on the fourth quarter outcomes, Patrick S. Williams, president and CEO, mentioned: “This was one other very sturdy quarter for Innospec. Within the quarter and the full-year we delivered double-digit gross sales and working revenue progress with expanded margins. We once more benefited from our balanced end-market publicity as some detrimental impression of year-end buyer destocking in Efficiency Chemical compounds was offset by continued sequential progress in Oilfield Companies and regular leads to Gas Specialties.

Based on knowledge from Benzinga Professional, IOSP has a 52-week excessive of $115.66 and a 52-week low of $83.13.

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