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Sep 30, 2023
Balchem Q3 2023 Earnings Report
Balchem reported third quarter sales with increased net earnings and adjusted EBITDA.
Key Takeaways
Balchem Corporation reported a decrease in net sales but an increase in net earnings and adjusted EBITDA for the third quarter of 2023. The company's Human Nutrition & Health segment achieved record quarterly sales and earnings from operations.
Net sales were $229.9 million, a decrease of 5.9% compared to the prior year.
Adjusted EBITDA was a record $59.9 million, an increase of 11.4% from the prior year.
GAAP net earnings were $29.1 million, an increase of 15.2% from the prior year.
Cash flows from operations were $46.5 million, with free cash flow of $38.2 million.
Balchem
Balchem
Balchem Revenue by Segment
Revenue by Segment
Human Nutrition & Health Revenue
CapyFin.comAnimal Nutrition & Health Revenue
CapyFin.comSpecialty Products Revenue
CapyFin.com Forward Guidance
The broader economic outlook and market demand still remain volatile, and volume demand patterns have not yet fully normalized, but Balchem continues to show its ability to perform in this uncertain market environment and they believe they are well positioned to benefit as the market recovers more broadly.
Revenue & Expenses
Visualization of income flow from segment revenue to net income