Newmarket reports $716.5M revenue for Q3 2026

Cover page 2 changes

3 unchanged paragraphs

For the quarterly period ended June September 30, 2026

22 unchanged paragraphs

Number of shares of common stock, with no par value, outstanding as of June September 30, 2026: 9,196,406 9,196,910

2 unchanged paragraphs

Financial Statements (unaudited) 5 changes

Consolidated Statements of Income - Second Third Quarter and Six Nine Months Ended June September 30, 2026 and June September 30, 2025

Consolidated Statements of Comprehensive Income - Second Third Quarter and Six Nine Months Ended June September 30, 2026 and June September 30, 2025

Condensed Consolidated Balance Sheets - June September 30, 2026 and December 31, 2025

Consolidated Statements of Shareholders' Equity - Second Third Quarter and Six Nine Months Ended June September 30, 2026 and June September 30, 2025

Condensed Consolidated Statements of Cash Flows - Six Nine Months Ended June September 30, 2026 and June September 30, 2025

Financial statements 141 changes

2 unchanged paragraphs

Net sales $ 747,094 $ 698,509 $ 1,416,811 $ 1,399,455

Cost of goods sold 504,665 477,555 953,503 942,478

Gross profit 242,429 220,954 463,308 456,977

Selling, general, and administrative expenses 48,376 45,428 94,390 88,406

Research, development, and testing expenses 30,388 32,374 62,024 65,550

Operating profit 163,665 143,152 306,894 303,021

Interest and financing expenses, net 8,818 10,735 17,589 21,435

Other income (expense), net 15,491 15,271 32,687 30,215

Income before income tax expense 170,338 147,688 321,992 311,801

Income tax expense 36,586 36,444 70,173 74,608

Net income $ 133,752 $ 111,244 $ 251,819 $ 237,193

Earnings per share - basic and diluted $ 14.54 $ 11.84 $ 27.14 $ 25.11

(in thousands, except per-share amounts) Second Third Quarter Ended June September 30, Six Nine Months Ended June September 30,

Net sales $ 716,502 $ 690,311 $ 2,133,313 $ 2,089,766

Cost of goods sold 494,138 480,667 1,447,641 1,423,145

Gross profit 222,364 209,644 685,672 666,621

Selling, general, and administrative expenses 48,916 43,944 143,306 132,350

Research, development, and testing expenses 30,504 35,024 92,528 100,574

Operating profit 142,944 130,676 449,838 433,697

Interest and financing expenses, net 7,984 8,374 25,573 29,809

Other income (expense), net 16,188 13,307 48,875 43,522

Income before income tax expense 151,148 135,609 473,140 447,410

Income tax expense 27,042 35,340 97,215 109,948

Net income $ 124,106 $ 100,269 $ 375,925 $ 337,462

Earnings per share - basic and diluted $ 13.50 $ 10.67 $ 40.64 $ 35.78

Cash dividends declared per share $ 3.00 $ 2.75 $ 6.00 9.00 $ 5.50 8.25

3 unchanged paragraphs

(in thousands) Second Quarter Ended June 30, Six Months Ended June 30,

Net income $ 133,752 $ 111,244 $ 251,819 $ 237,193

(in thousands) Third Quarter Ended September 30, Nine Months Ended September 30,

Net income $ 124,106 $ 100,269 $ 375,925 $ 337,462

2 unchanged paragraphs

Total pension plans and other postretirement benefits ( 1,668 ) ( 1,500 ) ( 3,093 ) ( 2,989 )

Other comprehensive income (loss) ( 349 ) 25,806 ( 8,681 ) 36,832

Comprehensive income $ 133,403 $ 137,050 $ 243,138 $ 274,025

Actuarial net gain (loss) Prior service credit (cost) arising during the period, net of income tax expense (benefit) of $ 0 for in the second third quarter 2026, $( 0 for 8 ) in the second third quarter 2025, $ 103 for 0 in the six nine months 2026, and $( 0 for the six 8 ) in nine months 2025

Amortization of prior service cost (credit) included in net periodic benefit cost (income), net of income tax expense (benefit) of $( 176 175 ) for in the second third quarter 2026, $( 175 ) for in the second third quarter 2025, $( 351 526 ) for in the six nine months 2026, and $( 352 527 ) for in the six nine months 2025 ( 499 497 ) ( 499 495 ) ( 996 1,493 ) ( 999 1,494 )

Actuarial net gain (loss) arising during the period, net of income tax expense (benefit) of $( 1,473 ) in the third quarter 2026, $ 323 in the third quarter 2025, $( 1,370 ) in the nine months 2026, and $ 323 in the nine months 2025 ( 4,214 ) 923 ( 3,972 ) 923

Amortization of actuarial net loss (gain) included in net periodic benefit cost (income), net of income tax expense (benefit) of $( 401 319 ) for in the second third quarter 2026, $( 344 363 ) for in the second third quarter 2025, $( 803 1,122 ) for in the six nine months 2026, and $( 685 1,048 ) for in the six nine months 2025 ( 1,169 935 ) ( 1,001 1,053 ) ( 2,339 3,274 ) ( 1,990 3,043 )

Total pension plans and other postretirement benefits ( 5,646 ) ( 649 ) ( 8,739 ) ( 3,638 )

Foreign currency translation adjustments, net of income tax expense (benefit) of $( 62 for ) in the second third quarter 2026, $ 377 for 224 in the second third quarter 2025, $ 366 for 304 in the six nine months 2026, and $ 873 for 1,097 in the six nine months 2025 ( 590 ) 3,789 ( 6,178 ) 43,610

Other comprehensive income (loss) ( 6,236 ) 3,140 ( 14,917 ) 39,972

Comprehensive income $ 117,870 $ 103,409 $ 361,008 $ 377,434

3 unchanged paragraphs

Inventories 523,546 502,257

(in thousands, except share amounts) June September 30,

Cash and cash equivalents $ 93,599 77,317 $ 77,598

Trade and other accounts receivable, less allowance for credit losses 480,725 449,886 422,084

Inventories 576,618 502,257

Prepaid expenses and other current assets 52,494 55,509 57,773

Total current assets 1,150,364 1,159,330 1,059,712

Property, plant, and equipment, net 792,483 813,304 775,480

Intangibles (net of amortization) and goodwill 923,182 909,946 941,156

Prepaid pension cost 605,366 613,957 586,053

Operating lease right-of-use assets, net 86,048 85,769 78,267

Deferred charges and other assets 63,568 66,033 51,797

Total assets $ 3,621,011 3,648,339 $ 3,492,465

2 unchanged paragraphs

Accounts payable $ 341,645 $ 238,384

Accrued expenses 95,201 109,774

Dividends payable 23,971 23,805

Accounts payable $ 298,136 $ 238,384

Accrued expenses 96,955 109,774

Dividends payable 26,303 23,805

Income taxes payable 25,011 19,794 17,190

Operating lease liabilities 17,973 17,792 16,205

Other current liabilities 6,954 11,914 13,921

Total current liabilities 510,755 470,894 419,279

Long-term debt 854,833 830,054 883,391

Operating lease liabilities - noncurrent 67,124 67,083 62,045

Other noncurrent liabilities 349,955 350,224 349,507

Total liabilities 1,782,667 1,718,255 1,714,222

2 unchanged paragraphs

Common stock and paid-in capital (with no par value; authorized shares - 80,000,000 ; issued and outstanding shares - 9,196,406 9,196,910 at June September 30, 2026 and 9,397,364 at December 31, 2025)

Accumulated other comprehensive income 98,142 91,906 106,823

Retained earnings 1,739,653 1,836,176 1,669,034

Total shareholders equity 1,838,344 1,930,084 1,778,243

Total liabilities and shareholders equity $ 3,621,011 3,648,339 $ 3,492,465

5 unchanged paragraphs

Balance at March 31, 2025 9,434,506 $ 0 $ 43,896 $ 1,475,600 $ 1,519,496

Net income 111,244 111,244

Other comprehensive income (loss) 25,806 25,806

Cash dividends ($ 2.75 per share)

Repurchases of common stock ( 36,812 ) ( 273 ) ( 19,519 ) ( 19,792 )

Stock-based compensation ( 1,073 ) 788 22 810

1 unchanged paragraph

Balance at March 31, 2026

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

2 unchanged paragraphs

and 61 more changes in the filing

Note 1: Financial Statement Presentation 2 changes

In the opinion of management, the accompanying consolidated financial statements of NewMarket Corporation and its subsidiaries contain all necessary adjustments for the fair presentation of, in all material respects, our consolidated financial position as of June September 30, 2026 and December 31, 2025, our consolidated results of operations, comprehensive income, and changes in shareholders' equity for the second third quarter and six nine months ended June September 30, 2026 and June September 30, 2025, and our cash flows for the six nine months ended June September 30, 2026 and June September 30, 2025. All adjustments are of a normal, recurring nature, unless otherwise disclosed. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and the instructions to Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (SEC), but do not include all disclosures required by GAAP for complete annual consolidated financial statements. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in the NewMarket Corporation Annual Report on Form 10-K for the year ended December 31, 2025 (2025 Annual Report), as filed with the SEC. The results of operations for the six-month nine-month period ended June September 30, 2026 are not necessarily indicative of the results to be expected for the full year ending December 31, 2026.

2 unchanged paragraphs

We offer our vendors a supplier finance program, which allows our vendors to receive payment from a third-party finance provider earlier than our normal payment terms would provide. NewMarket and its subsidiaries are not a party to any arrangement between our vendors and the finance provider, and there are no assets pledged as security or other forms of guarantees provided by NewMarket to the finance provider. For those vendors who opt to participate in the program, we pay the finance provider the full amount of the invoices on the normal due date. At both June September 30, 2026 and December 31, 2025, the amount of confirmed invoices outstanding under the supplier finance program was not material.

Note 2: Acquisition of Business 2 changes

4 unchanged paragraphs

We have initiated a purchase price valuation to determine the fair values of the tangible and intangible assets acquired and liabilities assumed and the amount of goodwill to be recognized as of the acquisition date. The amounts recorded for certain assets and liabilities, including but not limited to deferred taxes, intangible assets, and goodwill, are preliminary and are subject to adjustment if additional information is obtained about facts that existed as of the acquisition date. The final determination of the fair values of certain assets and liabilities will be completed within the measurement period of up to one year from the acquisition date. During the first six months of 2026, intangible assets and goodwill were adjusted by $ 3 million each.

In the third quarter of 2026, we finalized the allocation of the purchase price of Calca determining the fair values of the tangible and intangible assets acquired and liabilities assumed and the amount of goodwill to be recognized as of the acquisition date. During the measurement period, we recorded adjustments to the preliminary purchase price allocation resulting from additional information obtained about facts and circumstances that existed as of the acquisition date. The measurement period adjustments primarily related to the valuation of acquired identifiable intangible assets. Intangible assets decreased by approximately $ 32 million, goodwill increased by approximately $ 28 million, and deferred tax liabilities decreased by approximately $ 4 million during the measurement period. The effect of the measurement period adjustments on net income was immaterial.

1 unchanged paragraph

Note 3: Net Sales 9 changes

1 unchanged paragraph

Additionally, we have revenue from the manufacture and sale of critical specialty materials products used primarily in solid rocket motors for space launch and military defense applications, as well as propellants that enable advanced aerospace and defense applications and are integral to in-space propulsions propulsion systems for satellites and space probes. The sale of specialty materials products is predominantly to customers located in the United States, with limited amounts to customers in other countries. Our specialty materials customers are primarily contractors or subcontractors of the U.S. government, as well as the U.S. government. Specialty materials contracts generally include one performance obligation, which is typically satisfied at a point in time when the products are shipped from the plant sites.

In limited cases, we collect funds in advance of shipping product to our customers and recognizing the related revenue. These prepayments from customers are recorded as a contract liability until we recognize the revenue. Prepayments from our customers totaled $ 17 million at September 30, 2026 and $ 18 million at December 31, 2025. Some of our contracts also include variable consideration in the form of rebates, including tiered pricing, and/or business development funds. We regularly review these and make adjustments when necessary, recognizing the full amount of any adjustment in the period identified.

The following table provides information on our net sales by geographic area. Information on net sales by segment is presented in Note 4.

Third Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2026 2025 2026 2025

United States $ 288,922 $ 273,333 $ 836,667 $ 813,356

Europe, Middle East, Africa, India 223,731 211,017 651,026 625,588

Asia Pacific 120,611 127,412 393,553 406,336

Other foreign 83,238 78,549 252,067 244,486

Net sales $ 716,502 $ 690,311 $ 2,133,313 $ 2,089,766

1 unchanged paragraph

Note 4: Segment Information 3 changes

We have two reportable segments petroleum additives and specialty materials. The petroleum additives segment includes lubricant and fuel additives which are necessary for the efficient and reliable operation of vehicles and machinery. The specialty materials segment includes critical materials used in solid rocket motors for space launch and military defense applications as well as propellants that enable advanced aerospace and defense applications that are integral to in-space propulsion systems for satellites and space probes. The petroleum additives and specialty materials segments are managed separately by the president of Afton Chemical Corporation and the executive vice president of specialty materials, respectively. The All other category shown in the tables below includes the operations of the antiknock compounds business, as well as certain contracted manufacturing and related services. associated with Ethyl.

1 unchanged paragraph

The segment accounting policies are the same as those described in Note 1 of our 2025 Annual Report. NewMarket Services Corporation expenses are billed to the companies in each of the segments and all other businesses based on the services provided. Depreciation on segment property, plant, and equipment, as well as amortization of segment definite-lived intangible assets and lease right-of-use assets are included in segment operating profit. No material transfers occurred between any of the petroleum additives segment, specialty materials segment, and the All other category during the periods presented.

The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the second third quarter and six nine months ended June September 30, 2026 and June September 30, 2025. No single customer accounted for 10% or more of our total net sales in any period presented.

1 unchanged paragraph

Notes to the financial statements 44 changes

Second Quarter Ended June 30, Six Months Ended June 30,

Lubricant additives $ 584,024 $ 556,479 $ 1,105,193 $ 1,115,657

Fuel additives 91,549 97,396 180,198 183,772

Total 675,573 653,875 1,285,391 1,299,429

Specialty materials 67,165 42,037 125,306 95,758

All other 4,356 2,597 6,114 4,268

Total net sales $ 747,094 $ 698,509 $ 1,416,811 $ 1,399,455

Third Quarter Ended September 30, Nine Months Ended September 30, (in thousands) 2026 2025 2026 2025

Lubricant additives $ 549,323 $ 550,447 $ 1,654,516 $ 1,666,104

Fuel additives 101,627 98,638 281,825 282,410

Total 650,950 649,085 1,936,341 1,948,514

Specialty materials 62,009 38,178 187,315 133,936

All other 3,543 3,048 9,657 7,316

Total net sales $ 716,502 $ 690,311 $ 2,133,313 $ 2,089,766

1 unchanged paragraph

Net sales $ 675,573 $ 653,875 $ 1,285,391 $ 1,299,429

Cost of goods sold ( 463,188 ) ( 448,474 ) ( 872,626 ) ( 886,220 )

Research, development, and testing expenses ( 30,388 ) ( 32,374 ) ( 62,024 ) ( 65,550 )

Other segment items ( 32,627 ) ( 33,192 ) ( 66,372 ) ( 65,717 )

Petroleum additives segment operating profit 149,370 139,835 284,369 281,942

Net sales 67,165 42,037 125,306 95,758

Other segment items ( 44,819 ) ( 31,490 ) ( 90,538 ) ( 62,024 )

Specialty materials segment operating profit 22,346 10,547 34,768 33,734

Total segment operating profit 171,716 150,382 319,137 315,676

All other ( 212 ) ( 1,171 ) ( 1,322 ) ( 1,652 )

Corporate, general, and administrative expenses ( 7,816 ) ( 6,414 ) ( 10,869 ) ( 11,300 )

Interest and financing expenses, net ( 8,818 ) ( 10,735 ) ( 17,589 ) ( 21,435 )

Other income (expense), net 15,468 15,626 32,635 30,512

Income before income tax expense $ 170,338 $ 147,688 $ 321,992 $ 311,801

Net sales $ 650,950 $ 649,085 $ 1,936,341 $ 1,948,514

Cost of goods sold ( 457,395 ) ( 449,666 ) ( 1,330,021 ) ( 1,335,886 )

Research, development, and testing expenses ( 30,504 ) ( 35,024 ) ( 92,528 ) ( 100,574 )

Other segment items ( 32,116 ) ( 33,088 ) ( 98,488 ) ( 98,805 )

Petroleum additives segment operating profit 130,935 131,307 415,304 413,249

Net sales 62,009 38,178 187,315 133,936

Other segment items ( 45,622 ) ( 32,193 ) ( 136,160 ) ( 94,217 )

Specialty materials segment operating profit 16,387 5,985 51,155 39,719

Total segment operating profit 147,322 137,292 466,459 452,968

All other ( 352 ) ( 576 ) ( 1,674 ) ( 2,228 )

Corporate, general, and administrative expenses ( 4,018 ) ( 5,692 ) ( 14,887 ) ( 16,992 )

Interest and financing expenses, net ( 7,984 ) ( 8,374 ) ( 25,573 ) ( 29,809 )

Other income (expense), net 16,180 12,959 48,815 43,471

Income before income tax expense $ 151,148 $ 135,609 $ 473,140 $ 447,410

1 unchanged paragraph

The other segment items for the specialty materials segment include costs cost of goods sold; selling, general, and administrative expenses; and corporate services allocated to the reporting segment. Significant expense categories of the specialty materials segment are not regularly provided to the CODM.

1 unchanged paragraph

The following tables show additions to long-lived assets by segment and depreciation and amortization by segment and the reconciliation to of both to the consolidated amounts. The additions to long-lived assets include property, plant, and equipment and lease right-of-use assets.

1 unchanged paragraph

Note 5: Pension Plans and Other Postretirement Benefits 19 changes

Pension benefits $ 1,672 $ 1,672

Postretirement benefits 819 819

Pension benefits 2,531 2,915

The table below shows cash contributions made during the six nine months ended June September 30, 2026, as well as the remaining cash contributions we expect to make during the year ending December 31, 2026, for our domestic and foreign pension plans and domestic postretirement benefit plan.

(in thousands) Actual Cash Contributions for Six Nine Months Ended

June September 30, 2026 Expected Remaining Cash Contributions for Year Ending

Pension benefits $ 2,508 $ 836

Postretirement benefits 1,092 364

Pension benefits 3,779 1,666

2 unchanged paragraphs

Second Quarter Ended June 30,

Third Quarter Ended September 30,

1 unchanged paragraph

Service cost $ 2,973 $ 2,858 $ 137 $ 139

Interest cost 6,369 6,201 403 413

Service cost $ 2,896 $ 2,770 $ 128 $ 144

Interest cost 6,594 6,196 405 371

Expected return on plan assets ( 16,177 16,162 ) ( 15,114 15,122 ) ( 196 194 ) ( 199 202 )

Amortization of prior service cost (credit) 46 45 47 50 ( 757 ) ( 757 )

Amortization of actuarial net (gain) loss ( 1,092 781 ) ( 1,011 1,021 ) ( 76 67 ) ( 70 126 )

Net periodic benefit cost (income) $ ( 7,881 7,406 ) $ ( 7,021 7,127 ) $ ( 489 485 ) $ ( 474 570 )

1 unchanged paragraph

Note 6: Earnings Per Share 10 changes

Second Quarter Ended June 30, Six Months Ended June 30,

We had 37,224 36,943 shares of nonvested restricted stock at June September 30, 2026 and 37,202 36,983 shares of nonvested restricted stock at June September 30, 2025 that were excluded from the calculation of diluted earnings per share, as their effect on earnings per share would be anti-dilutive. The nonvested restricted stock is considered a participating security since the restricted stock contains nonforfeitable rights to dividends. As such, we use the two-class method to compute basic and diluted earnings per share for all periods presented since this method yields the most dilutive result. The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share.

Third Quarter Ended September 30, Nine Months Ended September 30, (in thousands, except per-share amounts) 2026 2025 2026 2025

1 unchanged paragraph

Earnings allocated to participating securities ( 537 ) ( 426 ) ( 995 ) ( 906 )

Net income attributable to common shareholders before allocation of earnings to participating securities $ 133,752 124,106 $ 111,244 100,269 $ 251,819 375,925 $ 237,193 337,462

Earnings allocated to participating securities ( 492 ) ( 390 ) ( 1,487 ) ( 1,296 )

Net income attributable to common shareholders after allocation of earnings to participating securities $ 133,215 123,614 $ 110,818 99,879 $ 250,824 374,438 $ 236,287 336,166

1 unchanged paragraph

Earnings per share - basic and diluted $ 14.54 $ 11.84 $ 27.14 $ 25.11

Weighted-average number of shares of common stock outstanding - basic and diluted 9,159 9,362 9,240 9,411 9,160 9,360 9,214 9,394

Earnings per share - basic and diluted $ 13.50 $ 10.67 $ 40.64 $ 35.78

1 unchanged paragraph

Note 7: Inventories 4 changes

Raw materials 89,386 76,629

Finished goods and work-in-process $ 398,190 442,740 $ 394,787

Raw materials 97,494 76,629

Stores, supplies, and other 35,970 36,384 30,841

Note 8: Intangibles (Net of Amortization) and Goodwill 17 changes

The net carrying amount of intangibles and goodwill was $ 923 910 million at June September 30, 2026 and $ 941 million at December 31, 2025. The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below.

June September 30, 2026 December 31, 2025

2 unchanged paragraphs

Customer bases $ 399,920 $ 48,247 $ 403,310 $ 37,626

Customer bases $ 382,950 $ 52,917 $ 403,310 $ 37,626

Formulas and technology 90,820 19,639 81,810 22,484 90,820 14,745

Trademarks and trade names 31,020 5,074 30,950 5,610 31,020 3,976

1 unchanged paragraph

Goodwill 428,101 424,127

Goodwill 451,503 424,127

Of the total intangibles (net of amortization) and goodwill, $ 124 million is attributable to the petroleum additives segment and $ 799 786 million is attributable to the specialty materials segment. The change in the gross carrying amount between December 31, 2025 and June September 30, 2026 is due to measurement period adjustments related to the Calca acquisition and foreign currency fluctuation on goodwill in the petroleum additives segment. See Note 2 for further information on the intangibles and goodwill obtained with the Calca acquisition. There is no accumulated goodwill impairment.

1 unchanged paragraph

Second quarter ended June 30, 2026 $ 9,259

Six months ended June 30, 2026 18,573

Six months ended June 30, 2025 12,702

Third quarter ended September 30, 2026 $ 8,642

Nine months ended September 30, 2026 27,215

Second Third quarter ended June September 30, 2025 6,351

Nine months ended September 30, 2025 19,053

1 unchanged paragraph

We amortize the formulas and technology over a period of 8 to 20 10 years, the customer bases over 9 to 20 years, the trademarks and trade names over 5 to 15 years, and the backlog over 5 years.

1 unchanged paragraph

Note 9: Long-term Debt 7 changes

(in thousands) June 30,

(in thousands) September 30,

1 unchanged paragraph

Revolving credit facility 309,000 284,000 288,000

3 unchanged paragraphs

We were in compliance with all covenants under all issuances of senior notes as of June September 30, 2026 and December 31, 2025.

Revolving Credit Facility - The revolving credit facility has a borrowing capacity of $ 900 million, a term of five years, and matures on January 22, 2029. The obligations under the revolving credit facility are unsecured. The average interest rate for borrowings under the revolving credit agreement was 4.8 % during the first six nine months of 2026 and 5.3 % during the year ended December 31, 2025.

Outstanding borrowings under the revolving credit facility amounted to $ 309 284 million at June September 30, 2026 and $ 288 million at December 31, 2025. Outstanding letters of credit amounted to approximately $ 2 million at June September 30, 2026 and $ 4 million at December 31, 2025. The unused portion of the revolving credit facility amounted to $ 589 614 million at June September 30, 2026 and $ 608 million at December 31, 2025.

We were in compliance with all covenants under the revolving credit facility as of June September 30, 2026 and December 31, 2025.

Note 10: Commitments and Contingencies 2 changes

2 unchanged paragraphs

We are involved in environmental proceedings and potential proceedings relating to soil and groundwater contamination, disposal of hazardous waste, and other environmental matters at several of our current or former facilities, or at third-party sites where we have been designated as a potentially responsible party. While we believe we are currently have adequately accrued for known environmental issues, it is possible that unexpected future costs could have a significant impact on our consolidated financial position, results of operations, and cash flows. Our total accruals for environmental remediation, dismantling, and decontamination were approximately $ 12 11 million at June September 30, 2026 and $ 14 million at December 31, 2025. Of the total accrual, the current portion is included in accrued expenses, and the noncurrent portion is included in other noncurrent liabilities on the Condensed Consolidated Balance Sheets .

Our more significant environmental sites include a former plant site in Baton Rouge, Louisiana and a Houston, Texas plant site. Together, the amounts accrued On a discounted basis, accrued liabilities related to these sites represented approximately $ 7 6 million of the total accrual above at June September 30, 2026 and $ 9 million at December 31, 2025, using discount rates ranging from 3 % to 9 % for both periods. The aggregate undiscounted amount for these sites was $ 9 8 million at June September 30, 2026 and $ 11 million at December 31, 2025.

1 unchanged paragraph

Note 11: Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) 12 changes

5 unchanged paragraphs

Other comprehensive income (loss) ( 2,989 ) 39,821 36,832

Balance at June 30, 2025 $ 148,969 $ ( 79,267 ) $ 69,702

Other comprehensive income (loss) before reclassifications 0 39,821 39,821 899 43,610 44,509

Amounts reclassified from accumulated other comprehensive loss (a) ( 2,989 4,537 ) 0 ( 2,989 4,537 )

Other comprehensive income (loss) ( 3,638 ) 43,610 39,972

Balance at September 30, 2025 $ 148,320 $ ( 75,478 ) $ 72,842

1 unchanged paragraph

Other comprehensive income (loss) ( 3,093 ) ( 5,588 ) ( 8,681 )

Balance at June 30, 2026 $ 179,451 $ ( 81,309 ) $ 98,142

Other comprehensive income (loss) before reclassifications 0 ( 5,588 3,972 ) ( 5,588 6,178 ) ( 10,150 )

Amounts reclassified from accumulated other comprehensive loss (a) ( 3,093 4,767 ) 0 ( 3,093 4,767 )

Other comprehensive income (loss) ( 8,739 ) ( 6,178 ) ( 14,917 )

Balance at September 30, 2026 $ 173,805 $ ( 81,899 ) $ 91,906 (a) The pension plan and other postretirement benefit components of accumulated other comprehensive income are included in the computation of net periodic benefit cost (income). See Note 5 in this Quarterly Report on Form 10-Q and Note 18 in our 2025 Annual Report for further information.

Note 12: Fair Value Measurements 5 changes

The carrying amount of cash and cash equivalents in the Condensed Consolidated Balance Sheets, as well as the fair value, was $ 94 77 million at June September 30, 2026 and $ 78 million at December 31, 2025. The fair value is classified as Level 1 in the fair value hierarchy.

No material events occurred during the six nine months ended June September 30, 2026 that required adjustment to the recognized balances of assets or liabilities which are recorded at fair value on a nonrecurring basis.

Long-term debt We record the carrying amount of our long-term debt at historical cost, less deferred financing costs related to our outstanding senior notes. The estimated fair value of our long-term debt is shown in the table below and is based primarily on estimated current rates available to us for debt of the same remaining duration and adjusted for nonperformance risk and credit risk. The estimated fair value of our publicly traded outstanding senior notes included in the table below is based on the last quoted price closest to June September 30, 2026. The fair value of our debt instruments is classified as Level 2 in the fair value hierarchy.

June September 30, 2026 December 31, 2025

1 unchanged paragraph

Long-term debt $ 854,833 830,054 $ 819,153 780,865 $ 883,391 $ 850,535

Note 13: Recent Accounting Pronouncements 1 change

3 unchanged paragraphs

In May 2026, the FASB issued Accounting Standards Update No. 2026-02, "Environmental Credits and Environmental Credit Obligations (Topic 818)" (ASU 2026-02). The FASB issued ASU 2026-02 to provide recognition, measurement, presentation, and disclosure requirements for an entity that generates, purchases, or receives environmental credit obligations or has a regulatory compliance obligation that can be settled with environmental credits. ASU 2026-02 is effective for our annual reporting periods beginning after December 15, 2027, and interim periods within those quarterly reporting periods beginning January 1, 2028. Early adoption is permitted. We are currently assessing the impact that the adoption of ASU 2026-02 will have on our consolidated financial statements.

Forward-looking statements 88 changes

4 unchanged paragraphs

When comparing the results of the petroleum additives segment for the first six nine months of 2026 with the first six nine months of 2025, net sales decreased 1.1%, 0.6%, resulting primarily from lower product shipments partially offset by higher selling prices. Operating profit increased 0.9% 0.5% over the same comparative periods.

For the six nine months comparison periods of 2026 and 2025, the specialty materials segment reported higher net sales, as well as slightly higher operating profit. Specialty materials net sales and operating profit for the first six nine months of 2025 do not reflect financial results of Calca since the acquisition of Calca occurred on October 1, 2025. We continue to expect to experience substantial variation in quarterly results for the specialty materials segment due to the nature of its business.

4 unchanged paragraphs

Second Quarter Ended June 30, Six Months Ended June 30,

Lubricant additives $ 584.0 $ 556.5 $ 1,105.2 $ 1,115.6

Fuel additives 91.6 97.4 180.2 183.8

Total 675.6 653.9 1,285.4 1,299.4

Specialty materials 67.2 42.0 125.3 95.8

All other 4.3 2.6 6.1 4.3

Net sales $ 747.1 $ 698.5 $ 1,416.8 $ 1,399.5

Consolidated net sales for the second third quarter of 2026 totaled $747.1 $716.5 million, representing an increase of $48.6 $26.2 million, or 7.0%, 3.8%, from the second third quarter of 2025. Consolidated net sales for the first six nine months of 2026 totaled $1.4 $2.1 billion, representing an increase of $17.4 $43.5 million, or 1.2%, 2.1%, from the first six nine months of 2025. The following table shows net sales by segment and product line. The net sales in the table below for the specialty materials segment do not include sales from Calca for the 2025 periods as the acquisition occurred on October 1, 2025.

Third Quarter Ended September 30, Nine Months Ended September 30, (in millions) 2026 2025 2026 2025

Lubricant additives $ 549.3 $ 550.5 $ 1,654.5 $ 1,666.1

Fuel additives 101.6 98.6 281.8 282.4

Total 650.9 649.1 1,936.3 1,948.5

Specialty materials 62.0 38.2 187.3 134.0

All other 3.6 3.0 9.7 7.3

Net sales $ 716.5 $ 690.3 $ 2,133.3 $ 2,089.8

1 unchanged paragraph

Petroleum additives net sales for the second quarter of 2026 were $675.6 million compared to $653.9 million for the second quarter of 2025, an increase of 3.3%. Net sales increased across all regions with growth of 2.8% in North America, 3.2% in Asia Pacific, 2.6% in EMEAI, and 7.7% in Latin America.

(in millions) Second Quarter Six Months

Period ended June 30, 2025 $ 653.9 $ 1,299.4

Lubricant additives shipments (3.0) (41.9)

Fuel additives shipments (7.1) (4.2)

Foreign currency impact, net 2.2 12.2

Period ended June 30, 2026 $ 675.6 $ 1,285.4

Petroleum additives net sales for the third quarter of 2026 were $650.9 million compared to $649.1 million for the third quarter of 2025, an increase of 0.3%. Increases in Latin America of 8.3%, North America of 1.7%, and EMEAI of 1.3% were substantially offset by a decrease in Asia Pacific of 8.1%.

Petroleum additives net sales for the first six nine months of 2026 were $1.3 $1.9 billion, a decrease of $14 $12.2 million, or 1.1%, 0.6%, compared to the first six nine months of 2025. Decreases in North America of 3.9% and Asia Pacific of 3.4% 4.9% and North America of 2.0% were partially mostly offset by increases in EMEAI of 2.2% and Latin America of 4.3%. 5.6% and EMEAI of 1.9%.

While regional sales fluctuate period to period, the percentage of net sales generated by region remained fairly consistent during the second third quarter and first six nine months of 2026 compared with the same periods in 2025.

The following table details approximates the approximate components of the changes in petroleum additives net sales between the second third quarter and first six nine months of 2026 and 2025.

(in millions) Third Quarter Nine Months

Period ended September 30, 2025 $ 649.1 $ 1,948.5

Lubricant additives shipments (46.9) (88.8)

Fuel additives shipments (1.8) (5.9)

Selling prices, including product mix 29.6 19.9 52.3 72.2

Foreign currency impact, net (1.8) 10.3

Period ended September 30, 2026 $ 650.9 $ 1,936.3

When comparing the second third quarter periods of 2026 and 2025, higher selling prices drove the increase in net sales, which was partially mostly offset by lower product shipments. For the first six month nine months comparison between 2026 and 2025, lower product shipments, partially offset by higher selling prices and a favorable foreign currency impact, resulted in the decrease in petroleum additives net sales. The higher selling prices for both the second third quarter and first six nine months of 2026 included surcharges implemented in response to higher costs from the supply chain disruptions in the Middle East. The decrease in product shipments was substantially due for the third quarter comparison reflects broad market softness, particularly in lubricant additives. In addition to the current quarter market softness, the decrease in product shipments for the nine months comparison was impacted by the first half effects of our strategic decision to examine and reduce low-margin business.

On a worldwide basis, the volume of product shipments for petroleum additives decreased 3.8% in 7.7% for the second third quarter of 2026 and 5.3% in 6.1% for the first six nine months of 2026 compared with the same periods in 2025. The decline reflected lower shipments across both the lubricant additives and fuel additives product lines, with lubricant additives accounting for the majority of the decrease particularly for the six months period. both comparative periods. For the second third quarter comparison, lubricant additives product shipments were lower across all regions while lower fuel additives shipments in EMEAI and Asia Pacific, North America were partially offset by growth increases in EMEAI and Asia Pacific. Fuel additives shipments for the Latin America while North America remained region were substantially unchanged Fuel additives shipments for the second third quarter comparison. were lower across all regions except Asia Pacific. For the first six nine months comparison, lubricant additives product shipments declined across all regions except for Latin America, which experienced modest growth. Fuel additives shipments for the first six nine months comparison decreased across all regions except for in North America and Latin America but increased in EMEAI. which remained Fuel additives shipments were substantially unchanged in Asia Pacific for the nine months comparison.

The primary foreign currencies in which we transact include the Euro, Pound Sterling, Japanese Yen, Chinese Renminbi, and Indian Rupee. Comparing both the second third quarters of 2026 and 2025, the United States Dollar strengthened against the Euro, Rupee, Yen, and Pound and weakened against the Renminbi, resulting in an unfavorable impact to net sales for the quarter in the table above. However, when comparing the first six nine months periods of 2026 and 2025, the United States Dollar strengthened against the Rupee and Yen and but weakened against the Euro, Renminbi, and Pound, Sterling, and Renminbi resulting in the overall favorable impacts impact to net sales in the table above.

1 unchanged paragraph

Total net sales for the specialty materials segment were $67.2 $62.0 million for the second third quarter of 2026, compared to $42.0 $38.2 million for the second third quarter of 2025. For the six nine months comparison, net sales were $125.3 $187.3 million for 2026 and $95.8 $134.0 million for 2025. The increase in net sales for both comparison periods was the result of higher selling prices from favorable product mix, as well as the inclusion of Calca's net sales following its acquisition on October 1, 2025.

3 unchanged paragraphs

Second Quarter Ended June 30, Six Months Ended June 30,

Petroleum additives $ 149.4 $ 139.8 $ 284.4 $ 281.9

Specialty materials $ 22.3 $ 10.5 $ 34.8 $ 33.7

All other $ (0.2) $ (1.2) $ (1.3) $ (1.7)

The following table presents reporting segment operating profit for the second third quarter and six nine months ended June September 30, 2026 and June September 30, 2025 for the petroleum additives and specialty materials segments, as well as the operating loss for the "All other" businesses. A reconciliation of segment operating profit to income before income tax expense is included in Note 4.

Third Quarter Ended September 30, Nine Months Ended September 30, (in millions) 2026 2025 2026 2025

Petroleum additives $ 130.9 $ 131.3 $ 415.3 $ 413.2

Specialty materials $ 16.4 $ 6.0 $ 51.2 $ 39.7

All other $ (0.4) $ (0.6) $ (1.7) $ (2.2)

1 unchanged paragraph

Gross profit and operating profit for the second quarter comparison increased primarily due to the net impact of surcharges implemented in response to higher raw material and operating costs we have incurred from the supply chain disruptions in the Middle East.

For the first six months comparison, the drivers for the slight decrease in gross profit were consistent with those affecting the second quarter comparison discussed above, offset by a 5.3% decline in shipments. The increase in operating profit for the first six months comparison was further impacted by lower costs for research, development, and testing.

Petroleum additives segment gross profit increased $7.0 decreased $5.9 million and operating profit increased $9.5 decreased $0.4 million when comparing the second third quarter of 2026 to the second third quarter of 2025. Gross profit decreased $0.4 $6.3 million and operating profit increased $2.4 $2.1 million when comparing the first six nine months of 2026 to the first six nine months of 2025.

Gross profit and operating profit for the third quarter comparison decreased primarily due to the impact of higher raw material costs and decreased sales volumes partially offset by higher selling prices. Despite broad market softness in lubricant additives that resulted in the decrease in shipments, we successfully implemented surcharges to selling prices to offset higher raw material and operating costs incurred due to the supply chain disruptions in the Middle East.

For the first nine months comparison, the factors contributing to the decrease in gross profit were generally consistent with those affecting the third quarter comparison discussed above, with higher operating costs also contributing to the year to date decrease. As discussed in the Net Sales section above, the decrease in product shipments for the nine months comparison reflected the first half impact of our strategic decision to examine and reduce low-margin business. The increase in operating profit for the first nine months comparison also benefited from lower costs for research, development, and testing.

1 unchanged paragraph

Second Quarter Ended June 30, Six Months Ended June 30,

Operating profit margin 22.1 % 21.4 % 22.1 % 21.7 %

Third Quarter Ended September 30, Nine Months Ended September 30,

Cost of goods sold as a percentage of net sales 68.6 70.3 % 68.6 69.3 % 67.9 68.7 % 68.2 68.6 %

Operating profit margin 20.1 % 20.2 % 21.5 % 21.2 %

For the rolling four quarters ended June September 30, 2026, the operating profit margin for petroleum additives was 20.7%, which is within our historical range of operating profit margin. While operating margins will fluctuate from quarter to quarter due to multiple factors, we believe the fundamentals of our business and industry as a whole are unchanged.

Petroleum additives selling, general, and administrative (SG&A) expenses decreased $0.5 $0.9 million in the second third quarter of 2026 compared with the second third quarter of 2025 and increased $0.6 decreased $0.3 million in the first six nine months of 2026 compared with the first six nine months of 2025. SG&A expenses as a percentage of net sales were 4.8% 4.9% for the second third quarter of 2026 and 5.1% for each of the second third quarter of 2025, 5.2% for the first six nine months of 2026, and 5.1% for the first six nine months of 2025. Our SG&A costs are primarily personnel-related and include salaries, benefits, and other costs associated with our workforce, including travel-related expenses. While personnel-related costs fluctuate from period to period, there were no significant changes in the drivers of these costs when comparing the periods.

Investments in petroleum additives research, development, and testing (R&D) decreased $2.0 $4.5 million when comparing the second third quarters of 2026 and 2025 and decreased $3.5 $8.0 million when comparing the first six nine months of 2026 and 2025. As a percentage of net sales, R&D investment was 4.5% 4.7% for the second third quarter of 2026, 5.0% 5.4% for the second third quarter of 2025, 4.8% for the first six nine months of 2026, and 5.0% 5.2% for the first six nine months of 2025. R&D investments reflect our efforts to support the development of solutions that meet our customers' needs, meet new and evolving standards, and support our expansion into new product areas. Our approach to R&D investments, as it is with SG&A costs, is one of purposeful spending on programs to support our current product base and to ensure that we develop products to support our customers' programs in the future. R&D investments include personnel-related costs, as well as costs for internal and external testing of our products.

1 unchanged paragraph

The specialty materials segment reported operating profit of $22.3 $16.4 million for the second third quarter of 2026 as compared to $10.5 $6.0 million for the second third quarter of 2025. Operating profit of $34.8 million For the first six nine months of 2026, remained fairly flat operating profit was $51.2 million as compared to operating profit of $33.7 $39.7 million for the first six nine months of 2025. The increase increases in specialty materials operating profit for the second third quarter comparison was and nine months comparisons were driven by factors consistent with those impacting specialty materials net sales as discussed above. partially offset by higher operating costs. We expect to experience substantial variation in quarterly results for the specialty materials segment due to the nature of its business.

2 unchanged paragraphs

Interest and financing expenses were $8.8 million for the second quarter of 2026, $10.7 million for the second quarter of 2025, $17.6 million for the first six months of 2026, and $21.4 million for the first six months of 2025.

The decrease for both the second quarter and six months comparisons resulted primarily from both lower average debt outstanding and a lower average interest rate.

For the third quarter comparison, interest and financing expenses were mostly unchanged at $8.0 million for the third quarter of 2026 and $8.4 million for the third quarter of 2025.

Interest and financing expenses were $25.6 million for the first nine months of 2026 and $29.8 million for the first nine months of 2025. The decrease for the nine months comparison resulted primarily from a lower average interest rate, as well as lower average debt outstanding.

1 unchanged paragraph

Income tax expense was $36.6 million for the second quarter of 2026 and $36.4 million for the second quarter of 2025. The effective tax rate was 21.5% for the second quarter of 2026 and 24.7% for the second quarter of 2025. Income tax expense increased $5.6 million due to higher income but was mostly offset by a $5.5 million decrease resulting from the lower effective tax rate.

The decrease in the effective tax rate for both periods was primarily driven by lower taxes on foreign earnings.

Other income (expense), net was income of $15.5 $16.2 million for the second third quarter of 2026, $15.3 $13.3 million for the second third quarter of 2025, $32.7 $48.9 million for the first six nine months of 2026, and $30.2 $43.5 million for the first six nine months of 2025. The amounts for both the 2026 and 2025 second third quarter and six months nine month periods primarily reflect the non-service cost components of net periodic benefit cost (income) from defined benefit pension and postretirement plans. See Note 5 for further information on total periodic benefit cost (income).

Income tax expense was $27.0 million for the third quarter of 2026 and $35.3 million for the third quarter of 2025. The effective tax rate was 17.9% for the third quarter of 2026 and 26.1% for the third quarter of 2025. Income tax expense decreased $8.3 million due to a $12.3 million decrease resulting from the lower effective tax rate partially offset by a $4.0 million increase due to higher income. The decrease in the effective tax rate was primarily driven by changes in estimates related to prior year taxes and lower taxes on foreign earnings.

Income tax expense was $70.2 $97.2 million for the first six nine months of 2026 and $74.6 $109.9 million for the first six nine months of 2025. The effective tax rate was 21.8% 20.6% for the first six nine months of 2026 and 23.9% 24.6% for the first six nine months of 2025. Income tax expense decreased $6.9 $12.7 million due to a $19.0 million decrease resulting from the lower effective tax rate and as discussed above, which was slightly partially offset by a $2.5 $6.3 million increase due to higher income.

1 unchanged paragraph

The OBBBA has multiple effective dates, with certain provisions which were effective in 2025 and others implemented through 2027. The 2026 impacts of the OBBBA have been reflected in the income tax provision for the second third quarter and six nine months ended June September 30, 2026. These impacts were not material to our consolidated financial statements. We are continuing to assess the impact of the provisions of the OBBBA that are effective in the future.

1 unchanged paragraph

Cash and cash equivalents at June September 30, 2026 were $93.6 $77.3 million, an increase a decrease of $16.0 $0.3 million since December 31, 2025.

Cash and cash equivalents held by our foreign subsidiaries amounted to $78.2 $71.1 million at June September 30, 2026 and $68.3 million at December 31, 2025. Periodically, we repatriate cash from our foreign subsidiaries to the United States through intercompany dividends and loans. We do not anticipate significant tax consequences from future distributions of foreign earnings.

1 unchanged paragraph

We expect that cash from operations, together with borrowing available under our revolving credit facility, will continue to be sufficient to cover our operating needs for the foreseeable future, including planned short-term and long-term capital expenditures.

1 unchanged paragraph

Cash provided from operating activities for the first six nine months of 2026 was $286.2 $354.7 million, including $3.6 $77.0 million of higher working capital requirements. The $3.6 million excluded a favorable foreign currency impact to the components of working capital on the balance sheet.

When comparing the June September 30, 2026 balances with those at December 31, 2025, the most significant changes in working capital included increases in trade and other accounts receivable, inventories, and accounts payable. along with a decrease in accrued expenses. The increase in trade and other accounts receivable primarily reflects higher sales during the second third quarter of 2026 compared to the fourth quarter of 2025, partially offset by a reduction in a short-term income tax receivable. The increase in inventories is due mainly to increased sales volume and higher raw material prices resulting from and transit times as a result of the conflict in the Middle East, as well as higher production volume during the third quarter of 2026. The increase in accounts payable is primarily the result of increased purchasing along with higher raw material costs during the first six nine months of 2026 and normal invoice payment timing. The decrease in accrued expenses is primarily the result of normal payments related to customer rebates and personnel-related payments.

Including cash and cash equivalents, as well as the impact of changes in foreign currency exchange rates on the balance sheet, we had total working capital of $639.6 $688.4 million at June September 30, 2026 and $640.4 million at December 31, 2025. The current ratio was 2.25 2.46 at June September 30, 2026 and 2.53 at December 31, 2025.

1 unchanged paragraph

Included in the expected capital expenditures for 2026 is a capital investment to expand AMPAC's ammonium perchlorate production capabilities in support of growing solid rocket motor demand. The project of up to $100 million, which began in 2025 and is currently expected to come online towards the end of 2026, includes the construction of an additional production line, increasing capacity by more than 50%. The increased capacity will allow AMPAC to meet the anticipated future demand of U.S. military and space launch programs, while also addressing the needs of U.S. allies in these critical areas.

Cash used in investing activities totaled $50.6 $87.3 million during the first six nine months of 2026, comprised primarily of capital expenditures. We expect that our total capital spending during 2026 will be in the $100 million to $130 $120 million range and will include improvements to our manufacturing and R&D infrastructure around the world.

2 unchanged paragraphs

2 unchanged paragraphs

8 unchanged paragraphs

1 unchanged paragraph

and 8 more changes in the filing

Market risk 1 change

At June September 30, 2026, there were no material changes in our market risk from the information provided in the 2025 Annual Report.

Controls and procedures 1 change

2 unchanged paragraphs

There has been no change in our internal control over financial reporting, as such term is defined in Rule 13a-15(f) of the Exchange Act, which occurred during the quarter ended June September 30, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Other information 1 change

During the quarter ended June September 30, 2026, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of NewMarket Corporation adopted or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) or of Regulation S-K.

Exhibits 2 changes

10 unchanged paragraphs

Date: July 30, October 29, 2026 By: /s/ Timothy K. Fitzgerald

3 unchanged paragraphs

Date: July 30, October 29, 2026 By: /s/ Susan M. Ridlehoover

2 unchanged paragraphs