Quaker Houghton · NYSE:KWR
Quaker Houghton — Q4 2024 Earnings Presentation
17 slides from Quaker Houghton's earnings presentation, Feb 25, 2025
Slide 1: Fourth Quarter and Full Year 2024 Results
Quaker Houghton Fourth Quarter and Full Year 2024 Results Investor Conference Call
Slide 2: Forward-Looking Statements
Forward-Looking Statements Regulation G The attached charts include Company information that does not conform to generally accepted accounting principles (“GAAP”). Management believes that an analysis of this data is meaningful to investors because it provides insight with respect to ongoing operati
Slide 3: Non-GAAP Measures
Non-GAAP Measures The information included in this presentation includes non-GAAP (unaudited) financial information that includes EBITDA, adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP earnings per diluted share. The Co
Slide 4: Speakers
Speakers Joe Berquist Chief Executive Officer, President Tom Coler Executive Vice President, Chief Financial Officer Robert T. Traub Senior Vice President, General Counsel & Corporate Secretary Jeffrey Schnell Vice President, Investor Relations 4 ©2025 Quaker Houghton. All Rights Reserved
Slide 5: Q4'24 and FY'24 Highlights
Q4’24 and FY’24 Highlights Q4’24 FY’24 $444M $65M $1,840M $311M Net Sales Adjusted Net Sales Adjusted EBITDA1 EBITDA1 $1.33 $63M $7.44 $205M Non-GAAP Operating Non-GAAP Operating Earnings per Cash Flow Earnings per Cash Flow Diluted Share1 Diluted Share1 1 This is a non-GAAP measure, refer to the re
Slide 6: Financial Snapshot
Financial Snapshot (Unaudited; Dollars in millions, unless otherwise noted) Q4 2024 Q4 2023 Variance(1) YTD 2024 YTD 2023 Variance(1) GAAP Net sales $ 444.1 $ 467.1 $ (23.0) (4.9%) $1,839.7 $1,953.3 $ (113.6) (5.8%) Gross profit 156.2 171.2 (15.0) (8.7%) 686.0 705.6 (19.6) (2.8%) Gross margin (%) 35
Slide 7: Total Company Volume Trend
1 Total Company Volume Trend (kilograms, in thousands) 150,000 125,000 100,000 75,000 50,000 25,000 — Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 2024 Organic sales volumes in Q4’24 declined slightly compa
Slide 8: Adjusted EBITDA
1 Adjusted EBITDA (dollars in millions) $320 $311 $77 $274 $65 $257 $222 2020 2021 2022 2023 2024 Q4 2023 Q4 2024 Generated $65M of adjusted EBITDA in Q4’24. The decline compared to the prior year was a result of softer end market conditions, primarily in the Americas and EMEA segments, and lower se
Slide 9: Leverage and Liquidity Update
Leverage and Liquidity Update Net Debt and Leverage Ratio1 (Dollars in Millions) • Total debt of $708 million $815 $787 $774 $750 $759 $759 $736 $765 $753 • Cash and cash equivalents of $189 million $696 $628 • Net debt of $519 million $561 $574 $549 $529 $519 • Leverage of 1.7x as of December 31, 2
Slide 10: Appendix: Actual and Non-GAAP Results
Appendix Actual and Non-GAAP Results
Slide 11: Non-GAAP Operating Reconciliation
Non-GAAP Operating Reconciliation (Unaudited; Dollars in thousands, unless otherwise noted) Three Months Ended Twelve Months Ended December 31, December 31, Non-GAAP Operating Income and Margin Reconciliations: 2024 2023 2024 2023 Operating income $ 29,013 $ 48,253 $ 194,706 $ 214,495 Acquisition-re
Slide 12: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (Unaudited; Dollars in thousands, unless otherwise noted) Three Months Ended EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations: December 31, 2024 2023 Net income attributable to Quaker Chemical Corporation $ 14,186 $ 20,198 Depreciation and amortizatio
Slide 13: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (Unaudited; Dollars in thousands, unless otherwise noted) Twelve Months Ended December 31, EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin Reconciliations: 2024 2023 2022 2021 2020 Net income (loss) attributable to Quaker Chemical Corporation $116,644 $ 112,748 $ (
Slide 14: Non-GAAP EPS Reconciliation
Non-GAAP EPS Reconciliation Three Months Ended Twelve Months Ended December 31, December 31, Non-GAAP Earnings per Diluted Share Reconciliations: 2024 2023 2024 2023 GAAP earnings per diluted share attributable to Quaker Chemical Corporation common shareholders $ 0.81 $ 1.12 $ 6.51 $ 6.26 Equity inc
Slide 15: Segment Performance
Segment Performance (Unaudited; Dollars in thousands, except per share amounts) Three Months Ended Twelve Months Ended December 31, December 31, 2024 2023 2024 2023 Net Sales Americas $ 208,585 $ 226,564 $ 882,131 $ 977,095 EMEA 125,877 135,745 536,435 571,347 Asia/Pacific 109,624 104,800 421,120 40
Slide 16: Historical Segment Net Sales
1 Historical Segment Net Sales (Unaudited; Dollars in millions) Net Sales Quarterly Segment Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Americas $ 172.6 $ 115.2 $ 159.3 $ 159.9 $ 180.8 $ 186.6 $ 197.4 $ 197.4 $ 212.1 $ 235.8
Slide 17: Historical Segment Operating Earnings
1 Historical Segment Operating Earnings (Unaudited; Dollars in millions) Segment Operating Earnings Quarterly Segment Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Americas $ 41.3 $ 19.7 $ 43.8 $ 37.1 $ 44.7 $ 47.7 $ 43.4 $ 40