Business
Balchem Corporation Reports Record Fourth Quarter Sales of $166.5 Million, GAAP EPS of $0.63 and Adjusted EPS of $0.88
NEW HAMPTON, N.Y., Feb. 21, 2020 (GLOBE NEWSWIRE) -- Balchem Corporation (NASDAQ: BCPC) today reported for the fourth quarter 2019 net earnings of $20.4
About this update from Balchem Corporation
[{"type":"text","content":"NEW HAMPTON, N.Y., Feb. 21, 2020 (GLOBE NEWSWIRE) -- Balchem Corporation (NASDAQ: BCPC) today reported for the fourth quarter 2019 net earnings of $20.4 million, compared to net earnings of $20.3 million for the fourth quarter 2018. Fourth quarter adjusted net earnings(a) were $28.4 million, compared to $25.1 million in the prior year quarter. Fourth quarter adjusted EBITDA(a) was $40.0 million, compared to $39.6 million in the prior year quarter. Balchem Corporation also reported for the full year 2019 net earnings of $79.7 million, compared to net earnings of $78.6 million for 2018. Full year adjusted net earnings(a) were $103.7 million, compared to $97.7 million in the prior year. Full year adjusted EBITDA(a) was $160.0 million, compared to $159.3 million in the prior year.\n 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. Full Year 2019 Financial Highlights: Full year net sales of $643.7 million were slightly higher than the prior year.Year over year sales growth in three of the four segments, with all-time record sales in Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products, offset by reduced sales in Industrial Products.Full year GAAP net earnings were $79.7 million, an increase of $1.1 million, or 1.4% from the prior year. These net earnings resulted in GAAP earnings per share of $2.45.Full year adjusted net earnings of $103.7 million increased $5.9 million or 6.1% from the prior year, resulting in adjusted earnings per share(a) of $3...