Quaker Houghton Q2 record sales $492.4M (+13%), net income drops to $14.3M; adjusted EBITDA $58.5M

QUAKER CHEMICAL CORP

2022-Q2 EPS reported $1.91 revenue$966,559,000

Record net sales of $492.4M, up 13% YoY, driven by 22% price/mix increase partially offset by 4% volume decline and 6% FX headwind.
Reported net income $14.3M ($0.80 EPS) vs $33.6M ($1.88 EPS) in Q2 2021; non-GAAP EPS $1.32 vs $1.82.
Adjusted EBITDA $58.5M, down from $70.1M prior year, due to raw material inflation and macro disruptions.
Successfully amended credit agreement extending maturity to June 2027; net debt $786.8M, leverage 3.2x.
CEO expects sequential gross margin expansion and earnings growth in H2 2022.

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