Innospec (IOSP) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.93 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.81. The company posted revenue of $212.10 million in the period, compared to analysts expectations of $252.15 million. The company’s revenue was down -21.2% compared to the same quarter last year.
Many Wall Street Analysts have commented on Innospec. Innospec was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Apr 5, 2016.
Innospec closed down -0.11 points or -0.23% at $48.25 with 1,17,216 shares getting traded on Monday. Post opening the session at $48.5, the shares hit an intraday low of $47.99 and an intraday high of $48.5 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 18, 2016, Patrick Joseph Mcduff (EVP & PRESIDENT FS AMERICAS) sold 489 shares at $43.05 per share price. According to the SEC, on Mar 3, 2016, Catherine Hessner (Senior VP – Human Resources) sold 1,455 shares at $43.80 per share price. On Feb 24, 2016, Ian Cleminson (VP & CFO) sold 1,527 shares at $43.72 per share price, according to the Form-4 filing with the securities and exchange commission.
Innospec Inc. develops manufactures blends markets and supplies fuel additives oilfield chemicals personal care and fragrance ingredients and other specialty chemicals. The Company’s products are sold primarily to oil and gas exploration and production companies oil refineries personal care and fragrance companies and other chemical and industrial companies. Its fuel additives improve fuel efficiency boost engine performance and reduce harmful emissions. Its oilfield specialties business supplies drilling and production chemicals for exploration and production. Its other specialty chemicals provide technology-based solutions for its customers’ processes or products focused in the Personal Care Polymers and Fragrance Ingredients markets. Its Octane Additives business manufactures products for use in automotive gasoline and provides services in the environmental remediation. The Company has three business segments: Fuel Specialties Performance Chemicals and Octane Additives.