Brian Paliotti - CFO

Greetings and welcome to NewMarket Corporation's scheduled conference call and webcast to review third quarter 2018 financial results. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host Mr. Brian Paliotti. Thank you. You may begin.

Thank you, Rob, and thanks to everyone for joining us this afternoon. With me today is Teddy Gottwald, our Chairman and CEO. As a reminder, some of the statements made during this conference call may be forward-looking. Relevant factors that could cause actual results to differ materially from those forward-looking statements are contained in our earnings release and our SEC filings, including our most recent Form 10-K. During this call, we may also discuss non-GAAP financial measure included in our earnings release. The earnings release, which can be found on our website, includes a reconciliation of the non-GAAP financial measure to the comparable GAAP financial measure. We filed our 10-Q this morning. It will contain significantly more detail on the operations and performance of our company. Please take time to review it. I will be referring to the data that was included in last night’s release. Net income was $58 million or $5.12 a share compared to net income of $60 million or $5.04 a share for the third quarter of last year. This is an earnings decrease of 2.2% and an EPS increase of 1.6% from last year's performance. Petroleum additives’ operating profit for the quarter was $76 million, which is an $8.3 million or 10% lower than last year. Consolidated sales for the quarter increased 2.7% to $563 million compared to sales for the same period last year of $548 million. The increase in revenue in petroleum additives in the quarterly comparison was mainly driven by price including foreign exchange. Petroleum additives shipments for the third quarter of 2018 were down 3.6% from the same period last year and are down slightly year-to-date by 0.3%. Shipments of lubricant additives decreased for the third quarter and are up slightly on a year-to-date basis. The decrease in lubricant additive shipments…

[Operator Instructions] : :

There are no questions at this time. At this point, I’d like to turn the call back to Brian Paliotti for closing comments.

Thank you all for calling in this quarter. And we will talk to you next quarter.

This concludes today’s conference. You may disconnect your lines at this time and we thank you for your participation.