Balchem Corp. Files Q3 2024 10-Q Report
Ticker: BCPC · Form: 10-Q · Filed: Oct 25, 2024 · CIK: 9326
| Field | Detail |
|---|---|
| Company | Balchem CORP (BCPC) |
| Form Type | 10-Q |
| Filed Date | Oct 25, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Balchem's Q3 2024 10-Q is in - check financials for latest performance.
AI Summary
Balchem Corp. reported its third-quarter results for the period ending September 30, 2024. The company's financial performance for the quarter and year-to-date is detailed in this 10-Q filing. Specific financial figures and operational details are provided within the document.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Balchem Corp., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.
Key Players & Entities
- BALCHEM CORP (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241025 (date) — Date of filing
- MONTVALE, NJ (location) — Company's business and mailing address
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ending September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on October 25, 2024.
What is Balchem Corp.'s standard industrial classification?
Balchem Corp.'s standard industrial classification is CHEMICALS & ALLIED PRODUCTS [2800].
Where is Balchem Corp. headquartered?
Balchem Corp. is located at 5 Paragon Drive, Montvale, NJ 07645.
What is the SEC file number for Balchem Corp.?
The SEC file number for Balchem Corp. is 001-13648.
Filing Stats: 4,708 words · 19 min read · ~16 pages · Grade level 14.4 · Accepted 2024-10-25 14:33:03
Key Financial Figures
- $000 — insic value of stock options exercised ($000s) $ 5,372 $ 100 $ 16,693 $ 2,280 Non-
Filing Documents
- bcpc-20240930.htm (10-Q) — 1361KB
- bcpcq3202410qex311.htm (EX-31.1) — 11KB
- bcpcq3202410qex312.htm (EX-31.2) — 11KB
- bcpcq3202410qex321.htm (EX-32.1) — 6KB
- bcpcq3202410qex322.htm (EX-32.2) — 6KB
- 0001628280-24-043795.txt ( ) — 7987KB
- bcpc-20240930.xsd (EX-101.SCH) — 48KB
- bcpc-20240930_cal.xml (EX-101.CAL) — 82KB
- bcpc-20240930_def.xml (EX-101.DEF) — 241KB
- bcpc-20240930_lab.xml (EX-101.LAB) — 682KB
- bcpc-20240930_pre.xml (EX-101.PRE) — 489KB
- bcpc-20240930_htm.xml (XML) — 1256KB
Financial Statements (unaudited)
Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Earnings for the Three and Nine Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the N i ne Months Ended September 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.
Controls and Procedures
Controls and Procedures 34 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 34 Item 1A.
Risk Factors
Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 5. Other Information 36 Item 6. Exhibits 37 SIGNATURE PAGE 38 Table of Contents
Financial Information
Part I. Financial Information
Financial Statements
Item 1. Financial Statements BALCHEM CORPORATION Condensed Consolidated Balance Sheets (Dollars in thousands, except share and per share data) Assets September 30, 2024 December 31, 2023 Current assets: (unaudited) Cash and cash equivalents $ 73,694 $ 64,447 Accounts receivable, net of allowances of $ 1,014 and $ 908 at September 30, 2024 and December 31, 2023 respectively 120,537 125,284 Inventories, net 118,510 109,521 Prepaid expenses 7,828 7,798 Other current assets 5,419 7,192 Total current assets 325,988 314,242 Property, plant and equipment, net 277,429 276,039 Goodwill 781,109 778,907 Intangible assets with finite lives, net 177,525 191,212 Right of use assets - operating leases 15,547 17,763 Right of use assets - finance lease 1,783 2,101 Other non-current assets 17,563 16,947 Total assets $ 1,596,944 $ 1,597,211 Liabilities and Stockholders' Equity Current liabilities: Trade accounts payable $ 46,461 $ 55,503 Accrued expenses 40,019 40,855 Accrued compensation and other benefits 17,551 17,228 Dividends payable 50 25,717 Income taxes payable 1,955 4,967 Operating lease liabilities - current 3,211 3,949 Finance lease liabilities - current 192 272 Total current liabilities 109,439 148,491 Revolving loan 227,000 309,569 Deferred income taxes 50,460 52,046 Operating lease liabilities - non-current 13,089 14,601 Finance lease liabilities - non-current 1,798 1,943 Other long-term obligations 17,932 16,577 Total liabilities 419,718 543,227 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, $ 25 par value. Authorized 2,000,000 shares; no ne issued and outstanding — — Common stock, $ 0.0667 par value. Authorized 120,000,000 shares; 32,507,716 and 32,254,728 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 2,169 2,152 Additional paid-in capital 168,174 145,653 Retained earnings 992,380 897,488 Accumulated other comprehensive income 14,503 8,691 Total stock