Innospec Reports Fourth Quarter and Full Year 2023 Financial Results
Commenting on the fourth quarter results, Patrick S. Williams, President and Chief Executive Officer, said,
- Commenting on the fourth quarter results, Patrick S. Williams, President and Chief Executive Officer, said,
“This was another very good quarter for Innospec. - Fuel Specialties achieved double-digit operating income growth in the quarter and gross margins were within our target range of 32 to 35 percent.
- Revenues in Oilfield Services of $175.4 million for the quarter decreased 4 percent from the $183.5 million in the fourth quarter last year.
- As of December 31, 2023, Innospec had net cash of $203.7 million compared to net cash of $147.1 million a year ago.