Newmarket (NYSE: NEU) reported Q4 EPS of $4.44, $0.28 better than the analyst estimate of $4.16. Revenue for the quarter came in at $479.6 million versus the consensus estimate of $511.12 million.

The company said:

Our stated goal is to provide a 10% return per year for our shareholders over any five year period (defined by EPS growth plus dividends). We may not necessarily achieve a 10% return each year, and 2015 was such a year. Unfavorable exchange rates and softer industry demand have worked against us at a time when we have a great need to invest in developing products to meet new, upcoming specifications and pursue specific growth opportunities. Our increased investments in 2015, evidenced by our more than $125 million of capital expenditures and 14% higher spending in research and development, reinforces that we are making decisions to promote the greatest long term value for our shareholders and customers, and we remain focused on our long term objectives.

As we look forward to 2016 and beyond, we believe the fundamentals of the industry remain unchanged with the petroleum additives market growing at 1% to 2% for the foreseeable future, and we expect to exceed that growth rate. We are making investments to position ourselves for the future. Our capital spending is creating the capacity we need to grow and support our customers worldwide; our research and development investments are positioning us well to provide added value to our customers; and our stock repurchases and dividend policy have been effective ways to use cash flow and modest leverage to improve shareholder return.

For earnings history and earnings-related data on Newmarket (NEU) click here.