NewMarket Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Capital Expenditure Guidance for the Year of 2014
For the full year, the company reported net income of $264,742,000 or $19.90 per basic and diluted share on net sales of $2,280,355,000 against net income of $239,593,000 or $17.85 per basic and diluted share on net sales of $2,211,878,000 a year ago. Income from continuing operations was $242,347,000 or $18.21 per basic and diluted share against income from continuing operations was $237,272,000 or $17.68 per basic and diluted share a year ago. Operating profit was $351,845,000 compared to $358,433,000 a year ago. Income from continuing operations before income tax expense was $341,311,000 compared to $337,568,000 a year ago. Capital expenditures were $58,476,000 compared to $38,753,000 a year ago. EBITDA from continuing operations was $399,168,000 compared to $383,530,000 a year ago. EBITDA from continuing operations, as adjusted was $392,478,000 compared to $397,968,000 a year ago.
For 2014, the company expects to see an increase in capital expenditures to the $100 million to $120 million range.