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Mar 31, 2024
Quaker Chemical Q1 2024 Earnings Report
Quaker Houghton reported strong Q1 2024 results with earnings growth and solid cash flow generation.
Key Takeaways
Quaker Houghton announced its first quarter 2024 results with net sales of $469.8 million, net income of $35.2 million, and EPS of $1.95. The company's adjusted EBITDA increased by 6% compared to the prior year, driven by improved gross margins. Despite a decline in sales volumes and selling price/product mix, the company remains confident in delivering volume and earnings growth in 2024.
Q1 2024 net sales reached $469.8 million, with a net income of $35.2 million and earnings per diluted share of $1.95.
Non-GAAP net income for Q1 2024 was $37.7 million, resulting in non-GAAP earnings per diluted share of $2.09.
Adjusted EBITDA for Q1 2024 increased by 6% to $83.3 million, compared to $78.8 million in Q1 2023.
Gross margins improved by 400 basis points compared to the prior year, marking the 7th consecutive quarterly year-over-year increase.
Revenue by Geographic Location
Forward Guidance
Quaker Houghton is well positioned and committed to delivering volume and earnings growth in 2024. The investments are expected to enhance the team’s ability to outperform end markets, and the strong balance sheet and cash flow generation capabilities provide opportunities to accelerate profitable growth initiatives and create long-term shareholder value.
Positive Outlook
- The company is well-positioned to deliver volume and earnings growth in 2024.
- Investments are expected to enhance the team’s ability to outperform end markets.
- Strong balance sheet and cash flow generation capabilities.
- Opportunities to accelerate profitable growth initiatives.
- Committed to creating long-term shareholder value.
Challenges Ahead
- The global macroeconomic environment remains dynamic.
- Potential effects of the conflicts in Ukraine and the Middle East.
- Inflation and global supply chain constraints on the Company’s business, results of operations, and financial condition.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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