Fri, Jul 26, 8:48 PM (43 days ago)
Balchem Corporation's Q2 2024 results show a 1.2% increase in net sales to $234,081, driven by a 9.0% rise in Human Nutrition & Health sales, offset by a 19.2% decline in Animal Nutrition & Health. Gross margin improved to 35.5% from 33.4%, with gross margin dollars up 7.3% due to higher sales and lower manufacturing input costs. Operating expenses rose 7.8%, influenced by prior year favorable adjustments and higher outside service charges. Net earnings increased 6.5% to $32,069, with EPS rising to $0.98 from $0.93. Cash flow from operations was strong at $78,380, and the company reduced its revolving loan balance by $43,000. Future risks include foreign currency fluctuations and potential impacts from ongoing legal proceedings.