Innospec earnings fall but beat estimates

Innospec’s fourth-quarter net income declined 35% year-on-year (YOY), or 53 cts/share, on sales up 7%, to $213.7 million, the company says. A significant tax charge affected results, it adds. Excluding the charge, adjusted earnings totaled 89 cts/share, beating analysts’ consensus of 87 cts/share, as reported by Thomson Reuters (New York). Adjusted earnings in the year-ago period totaled 94 cts/share, Innospec says.   Fuel specialties segment sales rose 7% YOY, to $155 million, while segment operating income rose 8%, to $29.4 million. Sales were...

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