NASDAQ$IOSP
Innospec Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Innospec reported a decrease in revenue but an increase in net income compared to the same quarter last year, with strong performance in Performance Chemicals and Oilfield Services.
Innospec's Q3 2023 results showed a revenue decrease of 10% to $464.1 million, but net income increased slightly to $39.2 million, with GAAP EPS at $1.57 and adjusted non-GAAP EPS at $1.59. The company generated $58.1 million in cash from operations and closed the quarter with $207.2 million in net cash.
- Performance Chemicals showed strong sequential improvement.
- Oilfield Services continued to deliver excellent results.
- Fuel Specialties maintained consistent performance.
- Cash from operations was $58.1 million, improving net cash to $207.2 million.
Headline financials
Revenue & EPS history
Innospec · Revenue · Quarterly
$464M
Revenue by segment
Innospec · $319M total across 2 segments · Q3 2023
- Fuel Specialties$169M-5.3%53.1%
- Oilfield Services$150M-14.3%46.9%
Forward guidance
Innospec anticipates similar results in Oilfield Services for the fourth quarter as in the third quarter, expecting 2023 to remain on track for significant full year growth and margin improvement.
Tailwinds
- New contracts in Performance Chemicals driving sequential operating income growth.
- Destocking pressure in Performance Chemicals believed to have peaked.
- Potential for further sequential growth and margin improvement in Performance Chemicals in Q4.
- Expect sequential margin improvement and operating income growth in Fuel Specialties.
- Oilfield Services anticipates similar results to this quarter.
Headwinds
- Economic uncertainty.
- Continued destocking.
- End-market headwinds.
- Gross margins in Fuel Specialties slightly below target.
- Moderation in production chemicals activity in Oilfield Services.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+1.5%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+0.5%
Avg return
30 days after
62%
40 / 65 earnings
Positive
+14.7%
Q3 2024
Best reaction
-8.5%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.2% | -0.8% | +1.0% | |
| Q4 2025 | -0.0% | -8.3% | -23.5% | |
| Q3 2025 | +2.4% | +3.9% | +3.8% | |
| Q1 2025 | -3.2% | -6.0% | -7.8% | |
| Q4 2024 | -7.0% | -7.2% | -12.6% | |
| Q3 2024 | +14.7% | +11.7% | +7.6% | |
| Q2 2024 | -8.5% | -8.2% | -6.6% | |
| Q1 2024 | +4.9% | +5.0% | +0.9% | |
| Q4 2023 | -0.5% | +3.0% | +1.5% | |
| Q3 2023 | +0.7% | +0.8% | +9.8% | |
| Q2 2023 | +0.5% | +1.3% | -2.3% | |
| Q1 2023 | +0.6% | -1.3% | -0.1% | |
| Q4 2022 | -5.6% | -5.1% | -14.0% | |
| Q3 2022 | -1.1% | +5.8% | +6.8% | |
| Q2 2022 | -4.2% | -7.6% | -12.1% | |
| Q1 2022 | +4.4% | +5.4% | +10.6% | |
| Q4 2021 | +8.1% | +8.4% | +3.5% | |
| Q3 2021 | +2.2% | +3.3% | -7.6% | |
| Q2 2021 | -2.5% | +1.0% | +4.4% | |
| Q1 2021 | +1.6% | +4.2% | +3.5% | |
| Q4 2020 | -2.4% | -0.2% | +4.8% | |
| Q3 2020 | +2.4% | +0.6% | +23.4% | |
| Q2 2020 | -0.2% | +2.9% | -4.1% | |
| Q1 2020 | +2.3% | +5.2% | +16.5% | |
| Q4 2019 | -0.2% | -8.4% | -37.7% | |
| Q3 2019 | +9.2% | +8.8% | +8.9% | |
| Q2 2019 | +0.8% | +2.2% | +0.9% | |
| Q1 2019 | +0.4% | -0.3% | -2.5% | |
| Q4 2018 | +5.8% | +9.6% | +12.3% | |
| Q3 2018 | +9.9% | +8.3% | -2.1% | |
| Q2 2018 | -3.3% | -4.5% | -2.0% | |
| Q1 2018 | +2.8% | +3.4% | +9.9% | |
| Q4 2017 | +0.8% | +2.6% | +4.5% | |
| Q3 2017 | +9.7% | +3.6% | +10.2% | |
| Q2 2017 | -4.7% | -9.3% | -13.3% | |
| Q1 2017 | -0.8% | -2.6% | +3.8% | |
| Q4 2016 | +5.7% | +1.9% | -9.8% | |
| Q3 2016 | -6.7% | -5.5% | +10.2% | |
| Q2 2016 | +6.6% | +16.1% | +17.1% | |
| Q1 2016 | +0.1% | — | — | |
| Q4 2015 | -7.9% | — | — | |
| Q3 2015 | +4.1% | — | — | |
| Q2 2015 | +4.3% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | +3.7% | — | — | |
| Q3 2014 | +8.0% | — | — | |
| Q2 2014 | +2.3% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | +5.4% | — | — | |
| Q3 2013 | -2.6% | — | — | |
| Q2 2013 | +0.4% | — | — | |
| Q1 2013 | -3.6% | — | — | |
| Q4 2012 | +0.2% | — | — | |
| Q3 2012 | +4.9% | — | — | |
| Q4 2011 | -3.0% | — | — | |
| Q2 2012 | -4.6% | — | — | |
| Q1 2011 | +7.5% | — | — | |
| Q1 2012 | +8.5% | — | — | |
| Q4 2009 | -2.5% | — | — | |
| Q3 2010 | -2.5% | — | — | |
| Q3 2011 | +7.4% | — | — | |
| Q2 2011 | +4.4% | — | — | |
| Q2 2010 | +4.4% | — | — | |
| Q4 2010 | +4.4% | — | — | |
| Q1 2010 | +7.8% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro