NewMarket (NEU) Q4 2025 earnings summary

Executive summary

• Full-year 2025 net income was $419 million ($44.44/share), down from $462 million ($48.22/share) in 2024, mainly due to a higher effective tax rate and lower operating profit in petroleum additives.

• Pre-tax income for Q4 2025 was $113 million, down from $134 million in Q4 2024; full-year pre-tax income declined 4% to $561 million from $584 million year-over-year.

• Strong operating cash flows supported dividends, share repurchases, and capital investments, including a major acquisition in specialty materials.

Financial highlights

• Net sales for 2025 were $2.73 billion, down from $2.79 billion in 2024.

• Petroleum Additives sales for 2025 were $2.53 billion, down from $2.6 billion in 2024; operating profit was $520 million, down from $592 million.

• Specialty Materials sales for 2025 were $182 million, up from $141 million in 2024; operating profit was $47 million, up from $17 million.

• EBITDA for 2025 was $721.1 million, down from $758.4 million in 2024.

• Operating cash flow enabled $105.9 million in dividends and $77.2 million in share repurchases.

Outlook and guidance

• Continued focus on technology investment, cost efficiency, inventory optimization, and portfolio profitability.

• Anticipates ongoing strength in both petroleum additives and specialty materials segments, with specialty materials capacity expansion expected online by end of 2026.