Balchem Corp. (BCPC) Tops Q4 EPS by 4c

Balchem Corp. (NASDAQ: BCPC) reported Q4 EPS of $0.88, $0.04 better than the analyst estimate of $0.84. Revenue for the quarter came in at $166.5 million versus the consensus estimate of $165.55 million.

Fourth Quarter 2019 Financial Highlights:

• Fourth quarter net sales of $166.5 million, an increase of $3.0 million, or 1.8%, compared to the prior year quarter.
• Year over year quarterly sales growth in three of the four segments, with all-time record sales in Human Nutrition and Health and Animal Nutrition and Health, and record fourth quarter sales in Specialty Products.
• Fourth quarter GAAP net earnings of $20.4 million were slightly higher than the prior year. These net earnings resulted in GAAP earnings per share of $0.63.
• Quarterly adjusted net earnings of $28.4 million increased $3.3 million or 12.9% from the prior year, resulting in adjusted earnings per share(a) of $0.88.
• Fourth quarter adjusted EBITDA was $40.0 million, an increase of $0.4 million, or 1.0%, from the prior year.
• Quarterly cash flows from operations were $33.0 million for the fourth quarter 2019 with quarterly free cash flow(a) of $26.3 million.

Ted Harris, Chairman, CEO, and President of Balchem said, “Our fourth quarter results saw sales growth in three of our four segments, record adjusted net earnings, and continued strong cash conversion. Record quarterly sales for Human Nutrition and Health and Animal Nutrition and Health, along with record fourth quarter Specialty Products sales, were partially offset by significantly lower Industrial Products sales to the oil and gas fracking market.”

Mr. Harris added, “The Balchem team made meaningful progress in 2019 on our strategic growth initiatives, while delivering solid full year financial results. At the same time, we acquired Chemogas NV in May 2019 and Zumbro in December 2019, enhancing our strategic positioning and strengthening our customer offerings.”

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

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