The following is a summary of the Quaker Chemical Corporation (KWR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Quaker Houghton reported Q1 2024 net sales of $470 million, a decrease of 6% from the prior year due to macroeconomic influences.

• Gross margins reached 38.7%, rising by 400 basis points year-over-year and 200 basis points from the previous period, attributed to heightened efficiency and a decrease in raw material costs.

• Adjusted EBITDA amounted to $83 million, marking a 6% annual increase.

• Non-GAAP diluted earnings per share were $2.09, up by 11% compared to the previous year.

• The company generated $27 million in operating cash flow in Q1 which is expected to increase in the coming quarters.

Business Progress:

• Despite a decline in net sales, the company performed strongly in Q1 2024 with enhanced earnings, expanded margins, and consistent operating cash flow.

• Sequential volume growth was noted in the Asia-Pacific segment due to improvement in China and Greater Asia.

• A seasonal improvement in demand across all regional segments is expected in Q2 2024.

• The acquisition of IKB is expected to speed up growth in their advanced and operating solutions in Europe and globally.

• Quaker continues to advance growth pillars, improve efficiency, and secure new business wins. Future initiatives are aimed at fostering a more productive, responsive, and innovative organization.

• The company expects to sustain its momentum and deliver earnings growth in 2024.

More details: Quaker Houghton IR

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