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Balchem Corporation Reports Third Quarter 2024 Financial Results
MONTVALE, N.J., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Balchem Corporation (NASDAQ: BCPC) reported today financial results for its 2024 fiscal third quarter ended
About this update from Balchem Corporation
[{"type":"text","content":"MONTVALE, N.J., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Balchem Corporation (NASDAQ: BCPC) reported today financial results for its 2024 fiscal third quarter ended September 30, 2024. For the quarter, the Company reported net sales of $239.9 million, net earnings of $33.8 million, adjusted EBITDA(a) of $64.4 million, and free cash flow(a) of $42.2 million. Ted Harris, Chairman, President and CEO of Balchem said, “We delivered strong third quarter financials with solid revenue growth and record earnings from operations and adjusted EBITDA. We continue to see excellent performance in our Human Nutrition and Health and Specialty Products segments, both delivering strong sales and earnings growth.” Third Quarter 2024 Financial Highlights: Net sales were $239.9 million, an increase of 4.3% compared to the prior year quarter.Adjusted EBITDA was a record $64.4 million, an increase of 7.6% from the prior year quarter.GAAP net earnings were $33.8 million, an increase of 16.4% from the prior year quarter.GAAP earnings per share of $1.03 compared to $0.90 in the prior year quarter and record adjusted earnings per share(a) of $1.13 compared to $1.04 in the prior year quarter.Cash flows from operations were $51.3 million for the third quarter of 2024, with quarterly free cash flow(a) of $42.2 million.Strong sales growth and earnings from operations in both our Human Nutrition and Health and Specialty Products segments. Recent Highlights: Balchem’s Human Nutrition and Health segment continued to bring innovative new products to its minerals and nutrients portfolio with two new solutions, K2Vital® Delta Fermented and VitaCholine® Pro-Flo. K2Vital® Delta Fermented is a vitamin K2 from fermentation in a patented microencapsulated form, and VitaCholine® Pro-Flo is an enhanced formulation designed for inclusion in multivitamins.Balchem’s Animal Nutrition and Health segment launched a newly developed product, AminoShure®-XL, which is a next generation rumen protected precision release lysine solution designed to consistently, reliably, and economically meet the lysine amino acid dietary requirements of lactating dairy cattle. AminoShure®-XL offers leading performance when considering feed stability, lysine content, and bioavailability compared to other products in the market and is a great addition to the Animal Nutrition and Health segment’s portfolio o...