Fri, Oct 25, 6:34 PM (84 days ago)
Balchem Corporation (BCPC) reported its Q3 2024 results, highlighting a revenue increase to $239,940, up 4.3% from $229,948 in Q3 2023. The Human Nutrition & Health segment drove growth with a 5.4% increase in sales, while the Animal Nutrition & Health segment saw a slight decline of 1.9%. Gross margin improved to 35.6% from 33.3%, reflecting higher sales and a favorable product mix. Operating expenses rose by 13.5%, primarily due to increased compensation costs and transaction expenses. Despite this, earnings from operations increased by 10% to $47,992. Net earnings rose 16.4% to $33,837, with an effective tax rate of 22.9%, impacted by reduced stock-based compensation benefits. Cash flow from operations improved to $129,682, while cash and equivalents rose to $73,694. The company utilized $98,602 in financing activities, including loan repayments. Balchem continues to focus on strategic growth through acquisitions and investments, maintaining a solid liquidity position with $323,000 available under its revolving credit facility. Future performance may be affected by macroeconomic factors and competitive dynamics.