Quaker Chemical Corp (doing business as Quaker Houghton)

Latest Results (14.08.2024):

Net Sales

Quaker Chemical Corp (doing business as Quaker Houghton) reported net sales of $463.6 million for the second quarter of 2024. This represents a decline of approximately 6% compared to $495.4 million in the second quarter of 2023. The decrease was primarily due to a reduction in selling price and product mix, a decline in sales volumes, and an unfavorable impact from foreign currency translation.

Net Income

For the second quarter of 2024, Quaker Chemical Corp (doing business as Quaker Houghton) achieved a net income of $34.9 million, or $1.94 per diluted share. This is an improvement from the net income of $29.3 million, or $1.63 per diluted share, reported in the second quarter of 2023. On a non-GAAP basis, net income was $38.2 million, with earnings per diluted share of $2.13.

Adjusted EBITDA

Quaker Chemical Corp (doing business as Quaker Houghton) delivered an adjusted EBITDA of $84.3 million in the second quarter of 2024. This marks a 5% increase compared to $80.2 million in the second quarter of 2023. The improvement was primarily driven by better gross margins across all segments.

Gross Margins

Quaker Chemical Corp (doing business as Quaker Houghton) saw an improvement in gross margins by 200 basis points in the second quarter of 2024 compared to the prior year. This marks the eighth consecutive quarter of year-over-year gross margin improvement, reflecting the company's focus on operational efficiency and cost management.

Cash Flow and Dividends

Year-to-date, Quaker Chemical Corp (doing business as Quaker Houghton) generated $73.5 million in operating cash flow. Additionally, the company increased its cash dividend by 6.6%, demonstrating its commitment to returning value to shareholders while maintaining a strong balance sheet and cash flow generation.