<p>新市场公司（Newmarket Corporation，股票代码：NEU）已举行其 2023 年第三季度财报电话会议。以下是会议的主要亮点。</p>
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<p>新市场公司最近的财报电话会议描绘了其财务健康状况和战略方向的复杂局面。公司在其特种材料部门展示了强劲的现金流管理和战略投资，导致股息增加和债务减少。然而，石油添加剂部门面临销售和利润下降的挑战，市场疲软影响了出货量。</p>
<h2>强劲的现金流和股东回报</h2>
<p>新市场公司报告称，2025 年前九个月的现金流稳健，使公司能够向股东返还 1.55 亿美元。这是通过总计 7700 万美元的股票回购和 7800 万美元的股息实现的。此外，公司成功减少了 2.13 亿美元的净债务，突显了其增强财务稳定性和提升股东价值的承诺。</p>
<h2>股息增加</h2>
<p>为了奖励股东，新市场公司的董事会批准将季度股息提高 9%，从每股 2.75 美元提高至每股 3 美元。此增加将于 2026 年 1 月 2 日起生效，反映了公司对其持续财务表现和未来前景的信心。</p>
<h2>特种材料部门增长</h2>
<p>特种材料部门显示出良好的增长，2025 年前九个月的销售额达到 1.34 亿美元，较 2024 年同期的 1.14 亿美元有所上升。营业利润也显著上升，从 1600 万美元增加至 4000 万美元，突显了该部门作为公司增长战略关键驱动力的角色。</p>
<h2>战略收购</h2>
<p>新市场公司战略性收购了 Calca Solutions, LLC，这是一家领先的超纯和高纯氢气生产商。这项收购代表了对特种材料部门的重大投资，使公司能够利用新兴市场机会并增强其竞争优势。</p>
<h2>净收入下降</h2>
<p>尽管有积极的发展，新市场公司在 2025 年第三季度的净收入下降，报告为 1 亿美元，而 2024 年同期为 1.32 亿美元。这一下降突显了公司在变化的市场条件下维持盈利能力所面临的挑战。</p>
<h2>石油添加剂部门下降</h2>
<p>石油添加剂部门经历了下滑，2025 年第三季度的销售额从 2024 年同期的 6.63 亿美元降至 6.49 亿美元。营业利润也从 1.57 亿美元下降至 1.31 亿美元，反映了该部门在市场压力和需求减少下的挣扎。</p>
<h2>市场条件挑战</h2>
<p>由于市场疲软、战略性减少低利润业务和持续的通货膨胀压力，新市场公司在 2025 年前九个月的出货量下降了 4.6%。这些因素对公司的运营表现构成了重大挑战。</p>
<h2>特种材料季度波动</h2>
<p>特种材料部门经历了季度波动，2025 年第三季度的销售额从 2024 年第三季度的 5900 万美元降至 3800 万美元。营业利润也从 1600 万美元降至 600 万美元，尽管年初至今的数字仍显示该部门的增长。</p>
<h2>前瞻性指导</h2>
<p>展望未来，新市场公司仍专注于通过战略投资和遵循核心商业原则来实现长期股东价值。尽管第三季度的净收入有所下降，但公司对未来持乐观态度，得益于强劲的现金流、战略收购以及增强特种材料部门的承诺。</p>
<p>总之，新市场公司的财报电话会议揭示了一个在机遇与挑战中航行的公司。尽管特种材料部门的强劲现金流和战略投资提供了良好的增长前景，但石油添加剂部门的下降和市场挑战突显了持续战略关注的必要性。公司对股东回报和战略收购的承诺仍然是会议的积极收获。</p>

<p>NewMarket Corporation 第三季度的财报电话会议强调了强劲的现金流管理和在其特种材料部门的战略投资，这导致了股息的增加和债务的减少。然而，石油添加剂部门面临挑战，销售和利润下降。公司向股东返还了 1.55 亿美元，并将股息提高了 9%。尽管净收入有所下降，NewMarket 对未来通过战略收购和投资实现增长仍持乐观态度</p>

<p>Newmarket Corporation ((NEU)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>新市场公司（Newmarket Corporation，股票代码：NEU）已举行其 2023 年第三季度财报电话会议。以下是会议的主要亮点。</p>
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</div><p>NewMarket Corporation’s recent earnings call painted a mixed picture of its financial health and strategic direction. The company demonstrated robust cash flow management and strategic investments in its Specialty Materials segment, leading to increased dividends and reduced debt. However, challenges were evident in the Petroleum Additives segment, which faced declining sales and profits, compounded by market softness impacting shipments.</p>
<div class="lb-trans"><p>新市场公司最近的财报电话会议描绘了其财务健康状况和战略方向的复杂局面。公司在其特种材料部门展示了强劲的现金流管理和战略投资，导致股息增加和债务减少。然而，石油添加剂部门面临销售和利润下降的挑战，市场疲软影响了出货量。</p>
</div><h2>Strong Cash Flow and Shareholder Returns</h2>
<div class="lb-trans"><h2>强劲的现金流和股东回报</h2>
</div><p>NewMarket Corporation reported solid cash flows for the first nine months of 2025, enabling the company to return $155 million to shareholders. This was achieved through share repurchases totaling $77 million and dividends amounting to $78 million. Additionally, the company successfully reduced its net debt by $213 million, highlighting its commitment to strengthening financial stability and enhancing shareholder value.</p>
<div class="lb-trans"><p>新市场公司报告称，2025 年前九个月的现金流稳健，使公司能够向股东返还 1.55 亿美元。这是通过总计 7700 万美元的股票回购和 7800 万美元的股息实现的。此外，公司成功减少了 2.13 亿美元的净债务，突显了其增强财务稳定性和提升股东价值的承诺。</p>
</div><h2>Dividend Increase</h2>
<div class="lb-trans"><h2>股息增加</h2>
</div><p>In a move to reward its shareholders, NewMarket’s Board of Directors approved a 9% increase in the quarterly dividend, raising it from $2.75 per share to $3 per share. This increase will be effective from January 2, 2026, reflecting the company’s confidence in its ongoing financial performance and future prospects.</p>
<div class="lb-trans"><p>为了奖励股东，新市场公司的董事会批准将季度股息提高 9%，从每股 2.75 美元提高至每股 3 美元。此增加将于 2026 年 1 月 2 日起生效，反映了公司对其持续财务表现和未来前景的信心。</p>
</div><h2>Specialty Materials Segment Growth</h2>
<div class="lb-trans"><h2>特种材料部门增长</h2>
</div><p>The Specialty Materials segment showed promising growth, with sales reaching $134 million in the first nine months of 2025, up from $114 million during the same period in 2024. Operating profit also saw a significant rise, increasing from $16 million to $40 million, underscoring the segment’s role as a key driver of the company’s growth strategy.</p>
<div class="lb-trans"><p>特种材料部门显示出良好的增长，2025 年前九个月的销售额达到 1.34 亿美元，较 2024 年同期的 1.14 亿美元有所上升。营业利润也显著上升，从 1600 万美元增加至 4000 万美元，突显了该部门作为公司增长战略关键驱动力的角色。</p>
</div><h2>Strategic Acquisition</h2>
<div class="lb-trans"><h2>战略收购</h2>
</div><p>NewMarket made a strategic acquisition of Calca Solutions, LLC, a leading producer of ultrapure and high-purity hydrogen. This acquisition represents a significant investment in the Specialty Materials segment, positioning the company to capitalize on emerging market opportunities and enhance its competitive edge.</p>
<div class="lb-trans"><p>新市场公司战略性收购了 Calca Solutions, LLC，这是一家领先的超纯和高纯氢气生产商。这项收购代表了对特种材料部门的重大投资，使公司能够利用新兴市场机会并增强其竞争优势。</p>
</div><h2>Decline in Net Income</h2>
<div class="lb-trans"><h2>净收入下降</h2>
</div><p>Despite positive developments, NewMarket faced a decline in net income for the third quarter of 2025, reporting $100 million compared to $132 million in the same quarter of 2024. This decline highlights the challenges the company faces in maintaining profitability amid changing market conditions.</p>
<div class="lb-trans"><p>尽管有积极的发展，新市场公司在 2025 年第三季度的净收入下降，报告为 1 亿美元，而 2024 年同期为 1.32 亿美元。这一下降突显了公司在变化的市场条件下维持盈利能力所面临的挑战。</p>
</div><h2>Petroleum Additives Segment Decline</h2>
<div class="lb-trans"><h2>石油添加剂部门下降</h2>
</div><p>The Petroleum Additives segment experienced a downturn, with sales for Q3 2025 falling to $649 million from $663 million in the same period of 2024. Operating profit also decreased from $157 million to $131 million, reflecting the segment’s struggle with market pressures and reduced demand.</p>
<div class="lb-trans"><p>石油添加剂部门经历了下滑，2025 年第三季度的销售额从 2024 年同期的 6.63 亿美元降至 6.49 亿美元。营业利润也从 1.57 亿美元下降至 1.31 亿美元，反映了该部门在市场压力和需求减少下的挣扎。</p>
</div><h2>Challenges in Market Conditions</h2>
<div class="lb-trans"><h2>市场条件挑战</h2>
</div><p>NewMarket encountered a 4.6% decline in shipments in the first nine months of 2025 due to market softness, strategic reductions in low-margin business, and ongoing inflationary pressures. These factors have posed significant challenges to the company’s operational performance.</p>
<div class="lb-trans"><p>由于市场疲软、战略性减少低利润业务和持续的通货膨胀压力，新市场公司在 2025 年前九个月的出货量下降了 4.6%。这些因素对公司的运营表现构成了重大挑战。</p>
</div><h2>Specialty Materials Quarterly Volatility</h2>
<div class="lb-trans"><h2>特种材料季度波动</h2>
</div><p>The Specialty Materials segment experienced quarterly volatility, with Q3 2025 sales dropping to $38 million from $59 million in Q3 2024. Operating profit also decreased from $16 million to $6 million, although year-to-date figures still indicate growth for the segment.</p>
<div class="lb-trans"><p>特种材料部门经历了季度波动，2025 年第三季度的销售额从 2024 年第三季度的 5900 万美元降至 3800 万美元。营业利润也从 1600 万美元降至 600 万美元，尽管年初至今的数字仍显示该部门的增长。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, NewMarket Corporation remains focused on long-term shareholder value through strategic investments and adherence to core business principles. Despite a decrease in net income for the third quarter, the company is optimistic about its future, supported by strong cash flow, strategic acquisitions, and a commitment to enhancing its Specialty Materials segment.</p>
<div class="lb-trans"><p>展望未来，新市场公司仍专注于通过战略投资和遵循核心商业原则来实现长期股东价值。尽管第三季度的净收入有所下降，但公司对未来持乐观态度，得益于强劲的现金流、战略收购以及增强特种材料部门的承诺。</p>
</div><p>In conclusion, NewMarket Corporation’s earnings call revealed a company navigating both opportunities and challenges. While strong cash flow and strategic investments in the Specialty Materials segment offer promising growth prospects, the decline in the Petroleum Additives segment and market challenges underscore the need for continued strategic focus. The company’s commitment to shareholder returns and strategic acquisitions remains a positive takeaway from the call.</p>
<div class="lb-trans"><p>总之，新市场公司的财报电话会议揭示了一个在机遇与挑战中航行的公司。尽管特种材料部门的强劲现金流和战略投资提供了良好的增长前景，但石油添加剂部门的下降和市场挑战突显了持续战略关注的必要性。公司对股东回报和战略收购的承诺仍然是会议的积极收获。</p>
</div>

NewMarket 公司财报电话会议：在挑战中采取的战略举措