NASDAQ$BCPC
Balchem Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Balchem's second quarter results were announced, revealing a slight decrease in net sales but increases in net earnings and adjusted EBITDA compared to the prior year quarter.
Balchem Corporation reported second quarter net sales of $231.3 million, a decrease of 2.3% compared to the prior year quarter. Net earnings were $30.1 million, an increase of 1.1% from the second quarter 2022. Adjusted EBITDA was a record $59.1 million, an increase of 4.6% from the prior year.
- Net sales decreased by 2.3% to $231.3 million.
- Adjusted EBITDA increased by 4.6% to a record $59.1 million.
- GAAP net earnings increased by 1.1% to $30.1 million, resulting in GAAP earnings per share of $0.93.
- Cash flows from operations were $35.0 million, with free cash flow of $31.7 million.
Headline financials
Revenue & EPS history
Balchem · Revenue · Quarterly
$231M
Revenue by segment
Balchem · $230M total across 3 segments · Q2 2023
- Human Nutrition & Health$136M+3.1%59.1%
- Animal Nutrition & Health$61.3M-2.0%26.7%
- Specialty Products$32.7M-10.7%14.2%
Forward guidance
The broader economic outlook and market demand still shows a high degree of uncertainty and demand patterns have not yet fully normalized, but I believe Balchem’s strong market positions will enable us to continue to deliver solid financial results as the markets recover more broadly.
Tailwinds
- Strong profitability and margin performance.
- Strong market positions.
- Strategic growth initiatives in 2023 and beyond.
- Ability to deliver long-term growth.
- New manufacturing unit for Vitacholine to support worldwide growth.
Headwinds
- Broader economic outlook shows a high degree of uncertainty.
- Market demand shows a high degree of uncertainty.
- Demand patterns have not yet fully normalized.
- Net sales decreased by 2.3% compared to the prior year quarter.
- Lower sales in monogastric markets.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.0%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+0.9%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+25.0%
Q1 2014
Best reaction
-16.3%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -6.8% | -7.0% | -9.7% | |
| Q4 2025 | -2.3% | +2.6% | -7.4% | |
| Q3 2025 | +4.1% | +3.9% | +1.3% | |
| Q1 2025 | -2.6% | -1.5% | +4.8% | |
| Q4 2024 | +1.5% | +7.0% | -0.1% | |
| Q3 2024 | +2.8% | +1.6% | +9.8% | |
| Q2 2024 | +3.9% | +1.5% | -1.2% | |
| Q1 2024 | -1.8% | -3.0% | -8.8% | |
| Q4 2023 | +7.4% | +5.0% | +6.8% | |
| Q3 2023 | -5.0% | -4.1% | +1.1% | |
| Q2 2023 | +4.8% | +5.0% | +7.1% | |
| Q1 2023 | +1.7% | +0.5% | +5.2% | |
| Q4 2022 | -2.0% | -0.2% | -7.7% | |
| Q3 2022 | -0.6% | -0.5% | +5.4% | |
| Q2 2022 | -5.2% | -6.6% | +2.3% | |
| Q1 2022 | +1.6% | -0.9% | -10.5% | |
| Q4 2021 | +1.0% | -0.7% | +1.2% | |
| Q3 2021 | -0.8% | +2.3% | +7.9% | |
| Q2 2021 | -0.8% | -2.5% | +2.7% | |
| Q1 2021 | -0.2% | -0.1% | +0.5% | |
| Q4 2020 | +5.4% | +6.4% | +10.7% | |
| Q3 2020 | -1.7% | -0.5% | +3.3% | |
| Q2 2020 | +4.6% | +4.7% | +0.3% | |
| Q1 2020 | -5.4% | -3.9% | -9.3% | |
| Q4 2019 | -10.7% | -13.3% | -15.9% | |
| Q3 2019 | +2.9% | +1.2% | -0.8% | |
| Q2 2019 | -16.3% | -15.9% | -13.5% | |
| Q1 2019 | +1.1% | +4.0% | +9.4% | |
| Q4 2018 | +8.0% | +12.4% | +10.7% | |
| Q3 2018 | -4.9% | -4.9% | -13.7% | |
| Q2 2018 | +1.1% | +1.3% | +10.1% | |
| Q1 2018 | -1.3% | +2.2% | +7.9% | |
| Q4 2017 | +2.3% | +5.9% | +8.6% | |
| Q3 2017 | +1.0% | -0.7% | +1.3% | |
| Q2 2017 | -2.6% | -3.9% | -1.8% | |
| Q1 2017 | -3.3% | -5.3% | -1.8% | |
| Q4 2016 | +5.2% | +2.2% | -2.5% | |
| Q3 2016 | -4.5% | +0.8% | +12.3% | |
| Q2 2016 | +1.3% | +2.0% | +8.7% | |
| Q1 2016 | +0.3% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | -2.0% | — | — | |
| Q2 2015 | +5.2% | — | — | |
| Q1 2015 | -0.5% | — | — | |
| Q4 2014 | -3.4% | — | — | |
| Q3 2014 | +6.7% | — | — | |
| Q2 2014 | +2.5% | — | — | |
| Q1 2014 | +25.0% | — | — | |
| Q4 2013 | +0.4% | — | — | |
| Q3 2013 | -4.9% | — | — | |
| Q2 2013 | +1.3% | — | — | |
| Q1 2013 | -2.3% | — | — | |
| Q4 2012 | +0.8% | — | — | |
| Q3 2012 | -10.5% | — | — | |
| Q2 2012 | +5.9% | — | — | |
| Q1 2011 | +2.1% | — | — | |
| Q4 2011 | +2.1% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q1 2010 | -4.1% | — | — | |
| Q4 2009 | -4.1% | — | — | |
| Q3 2010 | -3.2% | — | — | |
| Q3 2011 | -3.2% | — | — | |
| Q2 2011 | +1.0% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q2 2010 | +1.0% | — | — |
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