Innospec Announces New $50 Million Share Repurchase Program

Innospec Inc. IOSP recently announced that its board has approved a new $50 million share repurchase program. The company's earlier $50 million program expired in the first quarter of 2025.With more than $289 million in net cash, the company retains considerable flexibility and balance sheet strength for future M&A, organic investment, dividend growth and share repurchases under this renewed repurchase program.The company reported fourth-quarter adjusted earnings of $1.41 per share, which exceeded the Zacks Consensus Estimate of $1.36. This compares to earnings of $1.84 per share a year ago. The company surpassed Zacks Consensus Estimate in three of the trailing four quarters while meeting once, with an average surprise being roughly 3%.IOSP, on its fourth-quarter call, said that it is well placed for continued full-year growth in Performance Chemicals and Fuel Specialties and sequential quarterly recovery in Oilfield Services.Shares of Innospec have lost 19.7% over the past year compared with an 12.3% decline of its industry.Image Source: Zacks Investment ResearchIOSP’s Rank & Key PicksIOSP currently carries a Zacks Rank #4 (Sell).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, ArcelorMittal MT and Axalta Coating Systems Ltd. AXTACarpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 15.7%. The company's shares have soared 179.7% in the past year. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for ArcelorMittal’s current-year earnings is pegged at $3.72 per share. MT, carries a Zacks Rank #2, surpassed the Zacks Consensus Estimate in three of the trailing four quarters but missed it in one, with an average earnings surprise of 4.11%. The company's shares have soared 18.6% in the past year.Axalta Coating Systems, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.3%, on average. AXTA’s shares have rallied 0.7% over the past year.  5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ArcelorMittal (MT): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Innospec Inc. (IOSP): Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks