Afton Chemical posted operating profit jumps of 188% for the fourth quarter and 35% for the full year, boosted by increased selling prices that overcame rising operating and raw material costs. Sales revenue rose nearly 20% for the fourth quarter and full year.
NewMarket Corp.’s Afton Chemicals petroleum additives business reported operating profit of $117.1 million for the fourth quarter ending Dec. 31, compared to $40.7 million for the same period in 2021. For the full year operating profit grew to $378.2 million, from $281.1 million in 2021.
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