NEWMARKET CORP Earnings Per Share Disclosure
| Years Ended December 31, | ||||||||||||||||||||
(in thousands, except per-share amounts) | 2025 | 2024 | 2023 | |||||||||||||||||
Earnings per share numerator: | ||||||||||||||||||||
Net income attributable to common shareholders before allocation of earnings to participating securities | $ | 418,747 | $ | 462,413 | $ | 388,864 | ||||||||||||||
Earnings allocated to participating securities | (1,615) | (1,652) | (1,339) | |||||||||||||||||
Net income attributable to common shareholders after allocation of earnings to participating securities | $ | 417,132 | $ | 460,761 | $ | 387,525 | ||||||||||||||
Earnings per share denominator: | ||||||||||||||||||||
Weighted-average number of shares of common stock outstanding - basic and diluted | 9,386 | 9,555 | 9,583 | |||||||||||||||||
Earnings per share - basic and diluted | $ | 44.44 | $ | 48.22 | $ | 40.44 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 12, 2026 | Showing above |
| 2024 | Feb 14, 2025 | |
| 2023 | Feb 15, 2024 | |
| 2022 | Feb 15, 2023 | |
| 2021 | Feb 15, 2022 | |
| 2020 | Feb 16, 2021 | |
| 2019 | Feb 18, 2020 | |
| 2018 | Feb 19, 2019 | |
| 2017 | Feb 15, 2018 | |
| 2016 | Feb 15, 2017 | |
| 2015 | Feb 12, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.