. (IOSP - Free Report
) has secured the approval for Ecoclean 4200 detergent as a Top Tier diesel additive. Developed by a group of Original Equipment Manufacturers in close co-ordination with the Center for Quality Assurance (CQA), the Top Tier Diesel Standard has been geared to improve diesel fuel performance, quality and cleanliness.
The Ecoclean product line was first introduced in 2006 to address the issues related to the combination of modern high pressure common rail diesel engines and the challenges of ultra-low sulfur diesel.
Innospec’s shares have lost 18.4% in the last six months, underperforming the industry
’s gain of 2.7%.
Innospec reported adjusted earnings of $1.16 per share for second-quarter 2017, coming ahead of the Zacks Consensus Estimate of $1.08. The chemical maker’s revenues soared 43% year over year to $326.3 million in the quarter.
Innospec noted that while new products will help it to gain, its balanced capital management program is likely to create shareholder value, moving ahead. The company also sees healthy prospects for Oilfield Services for the balance of 2017.
Innospec is well positioned to deliver strong growth in all its businesses. The company continues to fully integrate its recent acquisitions as well as pursue other strategic buyouts to boost its portfolio further.
Innospec Inc. Price and Consensus