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Sep 30, 2024
Balchem Q3 2024 Earnings Report
Balchem's Q3 2024 earnings were reported, showing revenue growth and record earnings.
Key Takeaways
Balchem Corporation reported strong third quarter financial results with solid revenue growth and record earnings from operations and adjusted EBITDA. Net sales were $239.9 million, net earnings were $33.8 million, adjusted EBITDA was $64.4 million, and free cash flow was $42.2 million.
Net sales increased by 4.3% compared to the prior year quarter, reaching $239.9 million.
Adjusted EBITDA reached a record $64.4 million, a 7.6% increase from the prior year quarter.
GAAP net earnings increased by 16.4% from the prior year quarter, totaling $33.8 million.
The company saw strong sales growth and earnings from operations in both the Human Nutrition and Health and Specialty Products segments.
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 Balchem team delivered another strong quarter, highlighting the resilience of the business model and remains confident in the long-term growth outlook.
Positive Outlook
- Recent product launches in both the Human and Animal Nutrition and Health segments.
- Focus on bringing innovative solutions for the health and nutritional needs of the world.
- Progress on strategic growth initiatives.
- Strong sales growth and earnings from operations in both our Human Nutrition and Health and Specialty Products segments.
- The Balchem team delivered another strong quarter, once again highlighting the resilience of our business model.
Challenges Ahead
- Challenging market environment.
- Lower sales in the monogastric species markets in the Animal Nutrition and Health segment.
- Higher operating expenses in the Animal Nutrition and Health segment.
- Higher compensation-related costs and transaction costs.
- Higher effective tax rate was primarily due to lower tax benefits from stock-based compensation and certain higher U.S. state taxes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income