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Innospec Announces New $50 Million Share Repurchase Program

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Innospec Inc. (IOSP - Free Report) recently announced that its board has approved a new $50 million share repurchase program. The company's earlier $50 million program expired in the first quarter of 2025.

With more than $289 million in net cash, the company retains considerable flexibility and balance sheet strength for future M&A, organic investment, dividend growth and share repurchases under this renewed repurchase program.

The company reported fourth-quarter adjusted earnings of $1.41 per share, which exceeded the Zacks Consensus Estimate of $1.36. This compares to earnings of $1.84 per share a year ago. The company surpassed Zacks Consensus Estimate in three of the trailing four quarters while meeting once, with an average surprise being roughly 3%.

IOSP, on its fourth-quarter call, said that it is well placed for continued full-year growth in Performance Chemicals and Fuel Specialties and sequential quarterly recovery in Oilfield Services.

Shares of Innospec have lost 19.7% over the past year compared with an 12.3% decline of its industry.

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IOSP’s Rank & Key Picks

IOSP currently carries a Zacks Rank #4 (Sell).

Better-ranked stocks in the basic materials space include Carpenter Technology Corporation (CRS - Free Report) , ArcelorMittal (MT - Free Report) and Axalta Coating Systems Ltd. (AXTA - Free Report)

Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 179.7% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for ArcelorMittal’s current-year earnings is pegged at $3.72 per share. MT, carries a Zacks Rank #2, surpassed the Zacks Consensus Estimate in three of the trailing four quarters but missed it in one, with an average earnings surprise of 4.11%. The company's shares have soared 18.6% in the past year.

Axalta Coating Systems, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.3%, on average. AXTA’s shares have rallied 0.7% over the past year. 

 

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