Quaker Chemical (KWR) Tops Q2 EPS by 1c
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Quaker Chemical (NYSE: KWR) reported Q2 EPS of $1.24, $0.01 better than the analyst estimate of $1.23. Revenue for the quarter came in at $201.2 million versus the consensus estimate of $195.65 million.
Chairman, CEO and President Mike Barry - "Looking forward, we expect our gross margins to trend upwards over the next two quarters, gradually heading back to our 37% target. We remain committed to our strategy and believe our ability to take market share and leverage our past acquisitions will continue to help offset market challenges. Our 2017 plans continue to indicate growth in both the top line and bottom line, excluding Houghton-related costs, with earnings growth in all regions. Overall, I continue to remain confident in our future and expect 2017 to be another good year for Quaker, as we expect to increase non-GAAP earnings and adjusted EBITDA for the eighth consecutive year. In addition, we believe our previously announced combination with Houghton will create long-term sustainable value for our customers and shareholders, and remains on track to close by the end of the year or the first quarter of 2018."
For earnings history and earnings-related data on Quaker Chemical (KWR) click here.
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