Balchem Corp. (NASDAQ: BCPC) reported Q4 EPS of $0.77, $0.08 better than the analyst estimate of $0.69. Revenue for the quarter came in at $163.5 million versus the consensus estimate of $163.02 million.

Fourth Quarter 2018 Financial Highlights:

• Fourth quarter net sales of $163.5 million in 2018, an increase of $4.3 million, or 2.7%, compared to the prior year quarter.
• Year over year quarterly sales growth in three of our four segments, with record fourth quarter sales for our Human Nutrition & Health, Animal Nutrition & Health, and Specialty Products segments.
• Fourth quarter adjusted EBITDA was $39.6 million, a decrease of $0.4 million, or 1.0%, from the prior year.
• Fourth quarter GAAP net earnings were $20.3 million, a decrease of $21.6 million, or 51.6%, from the prior year primarily due to the one-time favorable impact of the Tax Cuts and Jobs Act in 2017. These net earnings resulted in GAAP earnings per share of $0.63. Record quarterly adjusted net earnings of $25.1 million increased $3.3 million or 14.9% from the prior year, resulting in adjusted earnings per share(a) of $0.77.
• Record quarterly cash flows from operations were $39.5 million for 2018 with record quarterly free cash flow(a) of $33.6 million.

Mr. Harris added, “The Balchem team made significant progress in 2018. We are very proud to have delivered these strong 2018 full year results with each of our four segments contributing nicely to achieve consolidated revenue growth of 8.2%, to a record $643.7 million, while delivering record adjusted net earnings of $97.7 million and free cash flow of $99.5 million, both increasing by 19.7% and 19.8% year over year, respectively. At the same time, we completed the integration of Innovative Food Processors that we acquired in 2017 and added Bioscreen to our portfolio in late 2018 while significantly advancing our strategic growth initiatives.”

For earnings history and earnings-related data on Balchem Corp. (BCPC) click here.