Quaker Chemical Files 10-Q for Q2 2024

TL;DR

Q2 2024 10-Q filed by Quaker Chemical. Financials look solid.

AI Summary

Quaker Chemical Corp. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position, including balance sheet information and statements of operations for the second quarter and first half of 2024, compared to the same periods in 2023. Specific financial figures and segment data are presented within the report.

Why It Matters

This filing provides investors with the latest financial performance data for Quaker Chemical, crucial for understanding the company's operational health and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20240805 — Filing Date (Shows when the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• QUAKER CHEMICAL CORP (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240805 (date) — Filing date
• PA (location) — State of incorporation
• CONSHOHOCKEN (location) — City of business address

FAQ

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value KWR New York Stock Exchange

Filing Documents

• kwr-20240630.htm (10-Q) — 1301KB
• kwr2024q2-exx101.htm (EX-10.1) — 65KB
• kwr2024q2-exx102.htm (EX-10.2) — 81KB
• kwr2024q2-exx104.htm (EX-10.4) — 21KB
• kwr2024q2-exx105.htm (EX-10.5) — 20KB
• kwr2024q2-exx106.htm (EX-10.6) — 35KB
• kwr2024q2-exx107.htm (EX-10.7) — 28KB
• kwr2024q2-exx311.htm (EX-31.1) — 10KB
• kwr2024q2-exx312.htm (EX-31.2) — 10KB
• kwr2024q2-exx321.htm (EX-32.1) — 3KB
• kwr2024q2-exx322.htm (EX-32.2) — 3KB
• image_0.jpg (GRAPHIC) — 73KB
• image_02.jpg (GRAPHIC) — 74KB
• image_03.jpg (GRAPHIC) — 9KB
• image_0a.jpg (GRAPHIC) — 73KB
• 0000081362-24-000119.txt ( ) — 8354KB
• kwr-20240630.xsd (EX-101.SCH) — 45KB
• kwr-20240630_cal.xml (EX-101.CAL) — 81KB
• kwr-20240630_def.xml (EX-101.DEF) — 216KB
• kwr-20240630_lab.xml (EX-101.LAB) — 623KB
• kwr-20240630_pre.xml (EX-101.PRE) — 452KB
• kwr-20240630_htm.xml (XML) — 1259KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 2 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and June 30, 2023 2 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and June 30, 2023 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and June 30, 2023 5 Condensed Consolidated Statements of Changes in Equity for the Three and Six Months Ended June 30, 2024 and June 30, 2023 6 Notes to Condensed Consolidated Financial Statements 7 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. 21 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 32 Item 4.

Controls and Procedures

Controls and Procedures. 32 PART II OTHER INFORMATION. Item 1. Legal Proceedings. 33 Item 1A. Risk Factors. 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 33

Other Information

Item 5. Other Information. 33 Item 6. Exhibits. 34 Signatures . 35 1 Table of Contents PART I FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited). Quaker Chemical Corporation Condensed Consolidated Statements of Operations (Unaudited; Dollars in thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 463,567 $ 495,444 $ 933,326 $ 995,592 Cost of goods sold (excluding amortization expense - See Note 13) 287,849 317,753 576,045 644,451 Gross profit 175,718 177,691 357,281 351,141 Selling, general and administrative expenses 116,949 119,853 241,129 239,402 Restructuring and related charges, net 320 1,043 2,177 5,015 Operating income 58,449 56,795 113,975 106,724 Other income (expense), net 422 ( 3,606 ) 1,502 ( 5,845 ) Interest expense, net ( 10,754 ) ( 12,721 ) ( 21,578 ) ( 25,963 ) Income before taxes and equity in net income of associated companies 48,117 40,468 93,899 74,916 Taxes on income before equity in net income of associated companies 15,778 13,830 28,286 23,363 Income before equity in net income of associated companies 32,339 26,638 65,613 51,553 Equity in net income of associated companies 2,571 2,755 4,555 7,381 Net income 34,910 29,393 70,168 58,934 Less: Net income attributable to noncontrolling interest 25 47 56 54 Net income attributable to Quaker Chemical Corporation $ 34,885 $ 29,346 $ 70,112 $ 58,880 Per share data: Net income attributable to Quaker Chemical Corporation common shareholders – basic $ 1.94 $ 1.63 $ 3.90 $ 3.28 Net income attributable to Quaker Chemical Corporation common shareholders – diluted $ 1.94 $ 1.63 $ 3.89 $ 3.27 Dividends declared $ 0.455 $ 0.435 $ 0.910 $ 0.870 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 2 Table of Content Quaker Chemical Corporation Condensed Consolidated Statements of Comprehensive Income (Unaudited; Dollars in thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net income $ 34,910 $ 29,393 $ 70,168 $ 58,934 Ot

View Full Filing

View this 10-Q filing on SEC EDGAR