Shares of NewMarket Corp. (NEU) climbed 5.28% on Wednesday, after the company reported robust financial results for the third quarter of fiscal 2024. The stock surge came as NewMarket's earnings and revenue for the quarter handily surpassed year-ago levels.
For the three months ended September 30, NewMarket posted earnings of $13.79 per diluted share, marking a significant increase from $11.60 per share in the prior-year period. The company's revenue also rose to $724.9 million from $667.2 million a year earlier.
While analyst estimates were not available for comparison, the strong quarterly performance signals NewMarket's continued business momentum and operational efficiency. Investors cheered the solid financials, driving the stock higher on Wednesday's trading.
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