Innospec Inc. (NASDAQ:IOSP) Q3 2023 Earnings Call Transcript

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Jonathan Tanwanteng: Okay. Great. And then last question, just assuming this is the run rate for Oilfield going forward at a revenue level, is there a chance to further improve the margin that you’re seeing there? Or is — are you facing the same inflation concerns that maybe you’re seeing in maybe Fuel Specialties or other portions of the business?

Patrick Williams: I think there’s a little room for improvement on the margins. You’ve still got high cost raw materials so you still do have some inflationary issues there, but I do think with some new technologies out there, we can improve the margins just a hair, that’s a big focus of ours right now.

Jonathan Tanwanteng: Okay. Is there any room to improve price if there’s inflation?

Patrick Williams: Could be. There could be a little bit of room. That’s somewhat stagnated though. That’s kind of run its course.

Operator: There are no further questions for today. I would now like to hand the conference over to Patrick Williams for any closing remarks.

Patrick Williams: Thank you all for joining us today, and thanks to all our shareholders, customers and Innospec employees for your interest and support. If you have any further questions about Innospec or matters discussed today, please give us a call. We look forward to meeting up with you again to discuss our fourth quarter 2023 results in February. Have a great day.

Operator: That concludes our conference for today. Thank you for participating. You may now all disconnect. Have a nice day.

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