Performance Chemicals Revenue Growth
Performance Chemicals revenues for the third quarter were $163.6 million, up 13% from last year's $145.2 million. Operating income increased by 18% over last year.
Fuel Specialties Margin Improvement
Fuel Specialties delivered double-digit operating income growth with improved gross margins of 33.6%, which were 2.3 percentage points above the same quarter last year.
Strong Cash Position
Innospec reported $303.8 million in cash and cash equivalents with no debt, highlighting a solid financial position.
Dividend Increase
The semiannual dividend was increased to $0.79, bringing the full-year dividend to $1.55, a 10% annual increase.
Middle East Growth Opportunities
Significant growth opportunities identified in the Middle East, particularly with Saudi Aramco, which could drive future growth.