Balchem Q2 sales $231.3M (-2.3% YoY); adjusted EPS $1.06; record EBITDA

BALCHEM CORP

2023-Q2 EPS reported $1.63 revenue$463,792,000

Q2 net sales $231.3M, down 2.3% YoY; GAAP net earnings $30.1M ($0.93 EPS).
Record quarterly adjusted EBITDA $59.1M, up 4.6% YoY; adjusted EPS $1.06 (vs $1.07 prior year).
Operating cash flow $35.0M; free cash flow $31.7M; repaid $26M revolving debt, net debt $338.7M.
Leverage ratio 1.5x net debt; completed new Vitacholine manufacturing unit for choline production.
Effective tax rate declined to 21.6% from 24.1% (255 bps lower).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

BALCHEM CORP reported the quarter ended June 30, 2023 results: revenue $231.3 million, net income $30.1 million, EPS $0.93.

Period: the quarter ended June 30, 2023
Revenue: $231.3 million
Net income: $30.1 million
EPS: $0.93
Result: reported results

Exact text from the filing

• Second quarter net sales were $231.3 million, a decrease of $5.4 million, or 2.3%, compared to the prior year. • Record quarterly adjusted EBITDA was $59.1 million, an increase of $2.6 million, or 4.6%, from the prior year. • GAAP net earnings were $30.1 million, an increase of $0.3 million, or 1.1% from the prior year. These net earnings resulted in GAAP earnings per share of $0.93.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

BALCHEM CORP filing history →

Source: SEC EDGAR

accession 0001628280-23-026002

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