Innospec’s (IOSP) Strong Quarter Hides A Cash Flow Problem Worth Watching
Innospec (IOSP) reported Q2 revenue up 12% to $491.4M, with all three segments showing growth. Net income rose to $30.8M. However, operating cash flow fell to $24.8M, and working capital changes consumed $60.9M. Margins declined in two segments, and adjusted EBITDA dropped to $93.8M. The company remains debt-free with $250.2M in net cash, paying dividends and repurchasing shares.





