Short answer
INNOSPEC INC. (IOSP) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $1.8B (−3.7% year over year) and net income of $117M.
- Top risk flagged: Regulatory risk from U.S. EPA and FAA leaded AvGas phase-out by 2030 risks loss of AvGas income
FY2025 key financial metrics · XBRL
- Revenue
- $1.8B
- −3.7% YoY
- Net income
- $117M
- +227.5% YoY
- Operating margin
- 7.3%
- −2.4 pp YoY
- Gross margin
- 27.7%
- −1.7 pp YoY
- EPS (diluted)
- $4.67
- +228.9% YoY
- ROE
- 8.8%
- +5.9 pp YoY
- Operating cash flow
- $138M
- −25.0% YoY
Source: XBRL data from the INNOSPEC INC. (IOSP) FY2025 10-K on SEC EDGAR. USD.
INNOSPEC INC. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Specialty chemicals for Performance Chemicals, Fuel Specialties, and Oilfield Services segments globally
- New product emphasis: Innovations in mild surfactants, detergents, cold flow improvers, friction modifiers, biocides, and drilling mud additives
- Strategic focus: Expanding geographical footprint and pursuing acquisitions to extend technology base and product portfolio
- Notable metric: R&D spend $51.0M in 2025, down from $56.5M in 2024, supporting new technology development across segments
- Unique fact: Only global producer of tetra ethyl lead for aviation gasoline marketed as AvGas
Management Discussion & Analysis
- Revenue $1.778B, down 4% YoY; Performance Chemicals up $27.7M (4%), Fuel Specialties flat, Oilfield Services down $95.5M (19%)
- Operating income $129.5M vs $177.9M, operating margin 7.3% vs 9.6%; Fuel Specialties best: $144.8M (+12%), Oilfield Services worst: $23.3M (-40%)
- Gross margin down 1.7 points to 27.7%; Performance Chemicals margin 17.9% vs 22.7%, Fuel Specialties margin up to 36.0% vs 34.2%, Oilfield Services margin down to 29.9% vs 31.5%
- Cash from operations after capex $63.9M; ended year with $292.5M cash and no debt; dividends up 10% to $1.71/share; repurchased 264K shares for $23.9M
- 2026 outlook: focus on Performance Chemicals margin recovery, Oilfield Services income growth from Middle East and DRA expansion; Latin America activity not expected to resume
Risk Factors
- Regulatory risk from U.S. EPA and FAA leaded AvGas phase-out by 2030 risks loss of AvGas income
- Geopolitical risk from operations in Middle East, Asia-Pacific, Eastern Europe, Latin America with political instability and trade restrictions
- Operational risk from ongoing multi-year ERP system implementation risking cost overruns, delays, business disruption
- Competitive risk from larger competitors with better resources and emerging electric/hybrid vehicle technologies reducing gasoline/diesel demand
- Key-person risk from dependence on senior management and technical staff affecting business continuity if lost
Generated from the filing text; verify against the original. How to read a 10-K
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