NewMarket (NEU) Q3 FY26 earnings call

A scripted monologue with no Q&A. Earnings growth is coming from cost recovery, mix, a lower tax rate and the aerospace/defense-oriented Specialty Materials segment, rather than from volume in core lubricant additives. Management's stance is cautious and dynamic: surcharges stay in place, capacity expansions are due by year-end, and capital return continues alongside lower leverage.