Quaker Chemical (KWR) Misses Q1 EPS by 1c
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Quaker Chemical (NYSE: KWR) reported Q1 EPS of $0.94, $0.01 worse than the analyst estimate of $0.95. Revenue for the quarter came in at $181.3 million versus the consensus estimate of $188.03 million.
Michael F. Barry, Chairman, Chief Executive Officer and President commented, "We are pleased with our results this quarter in spite of a difficult global market with significant foreign exchange headwinds. Lower oil prices and a stronger U.S. Dollar have changed the dynamics of our customers' markets and have negatively impacted both our top and bottom lines. However, our continued market share gains and recent acquisitions have helped us achieve stable sales and earnings despite these extreme changes in our environment."
Mr. Barry continued, "Looking forward, we expect a challenging, but stable, market environment in many of the countries in which we operate, along with a continued strong U.S. Dollar. However, we remain committed to our strategy and believe our ability to increase market share and leverage our acquisitions will more than offset these market and exchange rate challenges. In addition, our strong cash flow and balance sheet will allow us to continue to pursue our key strategic initiatives and future acquisitions, which we believe will add significant shareholder value. Overall, I remain confident in our future and expect 2015 to be another good year for Quaker with increased earnings for the sixth consecutive year."
For earnings history and earnings-related data on Quaker Chemical (KWR) click here.
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