NewMarket Posts Earnings and Sales Gains

NewMarket (Richmond, VA) says second-quarter net income increased 6% year-on-year (YOY), to $55.3 million. Reported earnings of $4.12/share increased 9% from the same 2011 quarter. Adjusted earnings of $62.9 million, up 15% YOY, exclude a charge for an interest rate swap and a charge for early extinguishment of debt. The adjusted earnings of $4.69/share beat analysts’ estimates of $4.55/share, according to Thompson Reuters (New York). Total revenue was posted as $590.4 million, a 2% increase YOY. The company’s petroleum additives segment reported...

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