$IOSP
INNOSPEC INC.

2023 Q3 Form 10-Q Financial Statement

#000095017023040225 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $464.1M $480.4M
YoY Change -9.53% 2.74%
Cost Of Revenue $326.9M $330.0M
YoY Change -8.43% 0.67%
Gross Profit $137.2M $150.4M
YoY Change -12.05% 7.58%
Gross Profit Margin 29.56% 31.31%
Selling, General & Admin $83.70M $105.6M
YoY Change -12.63% 26.62%
% of Gross Profit 61.01% 70.21%
Research & Development $11.60M $10.60M
YoY Change 14.85% 4.95%
% of Gross Profit 8.45% 7.05%
Depreciation & Amortization $9.900M $9.900M
YoY Change -1.98% -3.88%
% of Gross Profit 7.22% 6.58%
Operating Expenses $95.30M $116.2M
YoY Change -10.01% 24.28%
Operating Profit $41.90M $34.20M
YoY Change -16.37% -26.13%
Interest Expense $800.0K -$300.0K
YoY Change -366.67% -25.0%
% of Operating Profit 1.91% -0.88%
Other Income/Expense, Net $4.800M $2.700M
YoY Change -633.33% -175.0%
Pretax Income $47.50M $36.60M
YoY Change -2.86% -13.48%
Income Tax $8.300M $7.700M
% Of Pretax Income 17.47% 21.04%
Net Earnings $39.20M $28.90M
YoY Change 1.29% -10.53%
Net Earnings / Revenue 8.45% 6.02%
Basic Earnings Per Share $1.58 $1.16
Diluted Earnings Per Share $1.57 $1.16
COMMON SHARES
Basic Shares Outstanding 24.87M 24.87M
Diluted Shares Outstanding 25.01M 24.98M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $207.2M $165.9M
YoY Change 106.17% 132.35%
Cash & Equivalents $207.2M $165.9M
Short-Term Investments
Other Short-Term Assets $1.400M $700.0K
YoY Change 250.0% 75.0%
Inventory $331.5M $356.7M
Prepaid Expenses
Receivables $305.2M $310.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $863.7M $854.5M
YoY Change 2.04% 6.91%
LONG-TERM ASSETS
Property, Plant & Equipment $244.6M $242.3M
YoY Change 18.39% 15.55%
Goodwill $357.9M $360.6M
YoY Change 1.76% 1.01%
Intangibles $47.80M $46.70M
YoY Change 9.63% -2.91%
Long-Term Investments
YoY Change
Other Assets $6.500M $5.800M
YoY Change -1.52% -13.43%
Total Long-Term Assets $754.9M $756.3M
YoY Change -8.25% -9.81%
TOTAL ASSETS
Total Short-Term Assets $863.7M $854.5M
Total Long-Term Assets $754.9M $756.3M
Total Assets $1.619B $1.611B
YoY Change -3.03% -1.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $146.1M $157.9M
YoY Change -15.84% -12.71%
Accrued Expenses $165.1M $174.7M
YoY Change -5.06% 14.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $344.2M $364.9M
YoY Change -9.75% -1.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.500M $1.600M
YoY Change 7.14% 14.29%
Total Long-Term Liabilities $1.500M $1.600M
YoY Change 7.14% 14.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $344.2M $364.9M
Total Long-Term Liabilities $1.500M $1.600M
Total Liabilities $490.5M $516.0M
YoY Change -15.04% -9.36%
SHAREHOLDERS EQUITY
Retained Earnings $1.008B $969.1M
YoY Change 10.22% 10.62%
Common Stock $359.2M $357.0M
YoY Change 1.9% 1.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $94.20M $94.20M
YoY Change -0.42% 2.06%
Treasury Stock Shares
Shareholders Equity $1.125B $1.092B
YoY Change
Total Liabilities & Shareholders Equity $1.619B $1.611B
YoY Change -3.03% -1.65%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $39.20M $28.90M
YoY Change 1.29% -10.53%
Depreciation, Depletion And Amortization $9.900M $9.900M
YoY Change -1.98% -3.88%
Cash From Operating Activities $58.10M $55.00M
YoY Change 45.98% -833.33%
INVESTING ACTIVITIES
Capital Expenditures $16.70M $17.30M
YoY Change -273.96% -292.22%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$16.70M -$17.30M
YoY Change 73.96% 92.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.0K -19.20M
YoY Change -150.0% 11.63%
NET CHANGE
Cash From Operating Activities 58.10M 55.00M
Cash From Investing Activities -16.70M -17.30M
Cash From Financing Activities 200.0K -19.20M
Net Change In Cash 41.60M 18.50M
YoY Change 39.6% -154.9%
FREE CASH FLOW
Cash From Operating Activities $58.10M $55.00M
Capital Expenditures $16.70M $17.30M
Free Cash Flow $41.40M $37.70M
YoY Change -16.19% 2413.33%

Facts In Submission

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INNOSPEC INC.
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dei Security12b Title
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us-gaap Income Tax Examination Description
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Aside from certain tax returns that are closed after completion of an Internal Revenue Service ("IRS") audit, the Company and its U.S. subsidiaries remain open to examination by the IRS for certain elements of year 2017 and for years 2019 onwards under the statute of limitations. The Company’s subsidiaries in foreign tax jurisdictions are open to examination including Brazil (2018 onwards), Germany (2018 onwards), and the U.K. (2017 onwards).
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
94.3
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
203703
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
65.9
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
33681
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
72.1
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
676978
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
75.4
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
27900000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
6100000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
600000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5500000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-20700000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-500000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-20200000
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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