Balchem (BCPC) Q4 FY2023 earnings: revenue $229 million, down 1.6% on the year

Balchem Corp. (BCPC) reported revenue of $229 million for Q4 FY2023, the quarter ended 31 December 2023, down 1.6% on the same quarter a year earlier. Net income was $27 million, up 24.5% on the year, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.

Revenue$229 milliondown 1.6%

Net income$27 millionup 24.5%

Diluted EPS$0.82

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	229	230	n/a	n/a
Cost of revenue	154	153	n/a	n/a
Gross profit	75.0	76.5	n/a	n/a
Gross margin	32.8%	33.3%	n/a
Research and development	3.9	3.9	n/a	n/a
Operating income	38.3	43.6	n/a	n/a
Operating margin	16.8%	19.0%	n/a
Pre-tax income	33.3	36.5	n/a	n/a
Income tax	6.6	7.4	n/a	n/a
Effective tax rate	19.9%	20.3%	n/a
Net income	26.6	29.1	n/a	n/a
Net margin	11.7%	12.6%	n/a
Diluted EPS	$0.82	$0.90	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	67.4	46.5	n/a	n/a
Capital expenditure	n/a	8.3	n/a	n/a
Free cash flow	n/a	38.2	n/a	n/a
Free cash flow margin	n/a	16.6%	n/a
Cash from investing	-11.9	-9.3	n/a	n/a
Cash from financing	-70.1	-25.1	n/a	n/a
Depreciation and amortisation	14.1	13.8	n/a	n/a
Share-based compensation	3.8	3.7	n/a	n/a
Buybacks	0.4	0.1	n/a	n/a
Dividends paid	0.0	0.0	n/a	n/a
Diluted shares, weighted	n/a	32m	n/a	n/a
Shares outstanding at period end	32m	32m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	1,054	1,025	n/a	n/a
Debt	326	396	n/a	n/a
Operating lease liabilities	14.6	13.2	n/a	n/a
Finance lease liabilities	1.9	2.0	n/a	n/a
Other liabilities	201	167	n/a	n/a
Total liabilities and equity	1,597	1,603	n/a	n/a
Fixed assets	276	269	n/a	n/a
Goodwill	779	767	n/a	n/a
Intangible assets	191	192	n/a	n/a
Cash and equivalents	64.4	77.0	n/a	n/a
Receivables	125	129	n/a	n/a
Inventory	110	116	n/a	n/a
Other assets	51.8	53.6	n/a	n/a
Total assets	1,597	1,603	n/a	n/a

Questions

What was Balchem's revenue in Q4 FY2023?

Balchem (BCPC) reported revenue of $229 million for Q4 FY2023, the quarter ended 31 December 2023, down 1.6% on the same quarter a year earlier.

How much did Balchem earn in Q4 FY2023?

Net income for Q4 FY2023 was $27 million, up 24.5% on the year, and diluted earnings per share $0.82.

When did Balchem report Q4 FY2023 results?

Balchem filed its 10-K for the quarter ended 31 December 2023 with the SEC on 16 February 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	230	229	240	234	240	240	251	255	268	264	271	284
Cost of revenue	153	154	158	151	155	154	162	162	172	170	170	180
Gross profit	76.5	75.0	81.5	83.0	85.4	86.3	88.2	93.1	95.5	93.9	101	104
Gross margin	33%	33%	34%	35%	36%	36%	35%	36%	36%	36%	37%	37%
R&D	3.9	3.9	4.1	3.9	4.3	4.5	4.7	4.3	4.5	5.1	5.9	4.5
Operating income	43.6	38.3	41.7	45.8	48.0	47.4	51.0	51.4	54.6	52.3	55.6	59.2
Operating margin	19%	17%	17%	20%	20%	20%	20%	20%	20%	20%	21%	21%
Pre-tax income	36.5	33.3	36.9	41.2	43.9	44.5	47.9	49.0	52.0	50.0	52.5	57.8
Tax rate	20%	20%	21%	22%	23%	25%	23%	22%	23%	22%	23%	23%
Net income	29.1	26.6	29.0	32.1	33.8	33.6	37.1	38.3	40.3	39.2	40.3	44.6
Net margin	13%	12%	12%	14%	14%	14%	15%	15%	15%	15%	15%	16%
Diluted EPS	$0.90	$0.82	$0.89	$0.98	$1.03	$1.03	$1.13	$1.17	$1.24	$1.21	$1.25	$1.39
Operating cash flow	46.5	67.4	33.4	45.0	51.3	52.3	36.5	47.3	65.6	67.3	40.1	46.7
Capital expenditure	8.3	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Free cash flow	38.2	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Buybacks	0.1	0.4	5.2	0.0	0.2	0.3	5.3	33.3	15.4	53.6	15.7	28.8
Dividends paid	0.0	0.0	25.6	0.0	0.0	0.0	28.3	0.0	0.0	0.0	30.8	0.0
Shares outstanding	32m	32m	32m	32m	33m	33m	33m	32m	32m	32m	32m	32m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 16 February 2024, accession 0001628280-24-005397: the filing on EDGAR. All of Balchem Corp.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install