Quaker Chemical Corp. Files Amendment to Annual Report

TL;DR

<b>Quaker Chemical Corporation has filed an amendment to its 2023 annual report, confirming compliance with SEC filing requirements.</b>

AI Summary

QUAKER CHEMICAL CORP (KWR) filed a Amended Annual Report (10-K/A) with the SEC on March 14, 2024. Quaker Chemical Corporation filed an amendment (10-K/A) to its annual report for the fiscal year ended December 31, 2023. The company is registered with the SEC under the 1934 Act, with commission file number 001-12019. Common stock of Quaker Chemical Corporation, $1 par value, is traded under the symbol KWR on the New York Stock Exchange. The principal executive offices are located at 901 E. Hector Street, Conshohocken, Pennsylvania. The filing confirms Quaker Chemical Corporation has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking QUAKER CHEMICAL CORP, this filing contains several important signals. This amendment indicates ongoing regulatory compliance and transparency from Quaker Chemical Corporation regarding its financial reporting. The filing provides updated information for investors and stakeholders, ensuring they have the latest details on the company's status and disclosures.

Risk Assessment

Risk Level: low — QUAKER CHEMICAL CORP shows low risk based on this filing. The risk is low as this is an amendment to a standard annual report, indicating procedural updates rather than significant new negative information.

Analyst Insight

Review the specific changes within the amendment to understand any material updates to Quaker Chemical Corporation's financial or operational disclosures.

Key Numbers

• 001-12019 — Commission File Number (SEC registration number)
• 23-0993790 — IRS Number (Company's IRS Employer Identification No.)
• 19428 — ZIP Code (Business address ZIP code)
• 610-832-4000 — Business Phone (Registrant's telephone number)

Key Players & Entities

• QUAKER CHEMICAL CORP (company) — Filer name
• KWR (company) — Trading Symbol
• New York Stock Exchange (company) — Exchange where KWR is traded
• Pennsylvania (company) — State of incorporation and business address
• 2023-12-31 (date) — Fiscal year end
• 2024-03-14 (date) — Filing date

FAQ

Industry Context

Quaker Chemical Corporation operates in the chemical industry, specifically in the miscellaneous products of petroleum & coal sector.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including filing annual reports (10-K) and amendments.

What Investors Should Do

1. Review the full 10-K/A filing for specific details on amendments made to the original 10-K.
2. Monitor future SEC filings from Quaker Chemical Corporation for ongoing financial and operational updates.
3. Assess the impact of any disclosed changes on the company's financial health and market position.

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the annual report
• 2024-03-14: Filing Date — Date the 10-K/A amendment was filed

Year-Over-Year Comparison

This is an amendment (10-K/A) to the original 10-K filing for the fiscal year ended December 31, 2023.

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value KWR New York Stock Exchange
• $1.00 — date 17,991,778 shares of Common Stock, $1.00 Par Value, as of February 29, 2024. A
• $1,953.3 million — reign currency volatility. Net sales of $1,953.3 million in 2023 increased 1% compared to $1,943
• $1,943.6 million — illion in 2023 increased 1% compared to $1,943.6 million in 2022, primarily due to increases in
• $112.7 million — s. The Company generated net income of $112.7 million or $6.26 per diluted share in 2023, com
• $6.26 — nerated net income of $112.7 million or $6.26 per diluted share in 2023, compared to
• $15.9 million — hare in 2023, compared to a net loss of $15.9 million or $0.89 per diluted share in 2022. The
• $0.89 — pared to a net loss of $15.9 million or $0.89 per diluted share in 2022. The Company'
• $137.6 million — on-GAAP earnings per diluted share were $137.6 million and $7.65, respectively, compared to $1
• $7 — r diluted share were $137.6 million and $7.65, respectively, compared to $105.3 mi
• $105.3 million — on and $7.65, respectively, compared to $105.3 million and $5.87, respectively, in 2022. The C
• $5 — ctively, compared to $105.3 million and $5.87, respectively, in 2022. The Company
• $320.4 million — he Company generated adjusted EBITDA of $320.4 million compared to $257.2 million in 2022, an
• $257.2 million — ed EBITDA of $320.4 million compared to $257.2 million in 2022, an increase of 25%. The higher
• $279.0 million — ny generated net operating cash flow of $279.0 million in 2023 compared to $41.8 million in 20

Filing Documents

• kwr-20231231.htm (10-K/A) — 414KB
• kwr-20231231ex311.htm (EX-31.1) — 5KB
• kwr-20231231ex312.htm (EX-32.2) — 4KB
• 0000081362-24-000024.txt (&nbsp;) — 672KB
• kwr-20231231.xsd (EX-101.SCH) — 2KB
• kwr-20231231_lab.xml (EX-101.LAB) — 36KB
• kwr-20231231_pre.xml (EX-101.PRE) — 21KB
• kwr-20231231_htm.xml (XML) — 5KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 2 Part IV Item 15. Exhibits and Financial Statement Schedules. 18 1 Table of Contents PART II

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations. As used in this Annual Report on Form 10-K (the "Report"), the terms "Quaker Houghton," the "Company," "we," and "our" refer to Quaker Chemical Corporation (doing business as Quaker Houghton), its subsidiaries, and associated companies, unless the context otherwise requires. The "Combination" refers to the Quaker combination with Houghton International, Inc. ("Houghton"). Executive Summary Quaker Houghton is the global leader in industrial process fluids. With a presence around the world, including operations in over 25 countries, our customers include thousands of the world's most advanced and specialized steel, aluminum, automotive, aerospace, offshore, container, mining, and metalworking companies. Our high-performing, innovative and sustainable solutions are backed by best-in-class technology, deep process knowledge, and customized services. Quaker Houghton is headquartered in Conshohocken, Pennsylvania, located near Philadelphia in the U.S. Overall, 2023 was a successful year as the Company achieved substantial earnings growth led by its value-based pricing and margin improvement initiatives while navigating through a challenging macroeconomic and geopolitical environment, which included the direct and indirect impacts of the ongoing global conflicts, raw material cost fluctuations, inflationary pressures, supply chain and logistics challenges, and foreign currency volatility. Net sales of $1,953.3 million in 2023 increased 1% compared to $1,943.6 million in 2022, primarily due to increases in selling price and product mix of approximately 7% and favorable impacts from foreign currency translation of approximately 1%, partially offset by a 7% decline in sales volumes. The increase in selling price and product mix was primarily driven by the year-over-year impact of our value-based pricing initiatives. The decline in sales volumes compared to 2022 was primarily at

View Full Filing

View this 10-K/A filing on SEC EDGAR