Quaker Chemical (KWR) Q2 FY2024 earnings: revenue $464 million, down 6.4% on the year

Quaker Chemical Corp. (KWR) reported revenue of $464 million for Q2 FY2024, the quarter ended 30 June 2024, down 6.4% on the same quarter a year earlier. Net income was $35 million, up 18.9% on the year, and diluted earnings per share $1.94. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2024.

Revenue$464 milliondown 6.4%

Net income$35 millionup 18.9%

Diluted EPS$1.94

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	464	470	n/a	n/a
Cost of revenue	288	288	n/a	n/a
Gross profit	176	182	n/a	n/a
Gross margin	37.9%	38.7%	n/a
Selling, general and administrative	117	124	n/a	n/a
Operating income	58.4	55.5	n/a	n/a
Operating margin	12.6%	11.8%	n/a
Interest expense	10.8	10.8	n/a	n/a
Pre-tax income	48.1	45.8	n/a	n/a
Income tax	15.8	12.5	n/a	n/a
Effective tax rate	32.8%	27.3%	n/a
Net income	34.9	35.2	n/a	n/a
Net margin	7.5%	7.5%	n/a
Diluted EPS	$1.94	$1.95	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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	46.3	27.2	n/a	n/a
Capital expenditure	6.7	4.5	n/a	n/a
Free cash flow	39.6	22.8	n/a	n/a
Free cash flow margin	8.6%	4.8%	n/a
Cash from investing	-3.9	-29.3	n/a	n/a
Cash from financing	-45.9	6.6	n/a	n/a
Depreciation and amortisation	15.4	15.2	n/a	n/a
Share-based compensation	4.2	3.9	n/a	n/a
Dividends paid	8.2	8.2	n/a	n/a
Dividend per share	$0.46	$0.46	n/a	n/a
Diluted shares, weighted	18m	18m	n/a	n/a
Shares outstanding at period end	18m	18m	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	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	1,395	1,391	n/a	n/a
Non-controlling interest	0.6	0.6	n/a	n/a
Short-term borrowings	32.4	27.8	n/a	n/a
Debt	704	740	n/a	n/a
Operating lease liabilities	21.7	22.8	n/a	n/a
Other liabilities	519	532	n/a	n/a
Total liabilities and equity	2,672	2,714	n/a	n/a
Fixed assets	201	202	n/a	n/a
Goodwill	518	523	n/a	n/a
Intangible assets	866	886	n/a	n/a
Cash and equivalents	189	196	n/a	n/a
Receivables	424	440	n/a	n/a
Other assets	475	468	n/a	n/a
Total assets	2,672	2,714	n/a	n/a

Questions

What was Quaker Chemical's revenue in Q2 FY2024?

Quaker Chemical (KWR) reported revenue of $464 million for Q2 FY2024, the quarter ended 30 June 2024, down 6.4% on the same quarter a year earlier.

How much did Quaker Chemical earn in Q2 FY2024?

Net income for Q2 FY2024 was $35 million, up 18.9% on the year, and diluted earnings per share $1.94.

When did Quaker Chemical report Q2 FY2024 results?

Quaker Chemical filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 5 August 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	491	467	470	464	462	444	443	483	494	468	480	533
Cost of revenue	307	296	288	288	290	288	282	312	313	303	304	343
Gross profit	183	171	182	176	173	156	161	172	181	166	177	189
Gross margin	37%	37%	39%	38%	37%	35%	36%	36%	37%	35%	37%	36%
SG&A	123	121	124	117	118	125	119	127	126	130	136	140
Operating income	59.5	48.3	55.5	58.4	51.7	29.0	27.6	-52.5	46.6	31.2	33.6	40.6
Operating margin	12%	10%	12%	13%	11%	7%	6%	-11%	9%	7%	7%	8%
Interest expense	12.6	12.7	10.8	10.8	10.3	9.1	9.5	12.8	10.9	10.8	9.9	9.9
Pre-tax income	44.0	34.2	45.8	48.1	42.2	19.0	17.4	-65.9	35.4	20.2	23.7	31.1
Tax rate	31%	54%	27%	33%	29%	47%	43%	n/a	26%	12%	30%	36%
Net income	33.7	20.2	35.2	34.9	32.3	14.2	12.9	-66.6	30.5	20.7	19.7	26.8
Net margin	7%	4%	7%	8%	7%	3%	3%	-14%	6%	4%	4%	5%
Diluted EPS	$1.87	$1.12	$1.95	$1.94	$1.81	$0.81	$0.73	-$3.78	$1.75	$1.18	$1.13	$1.55
Operating cash flow	83.4	79.6	27.2	46.3	68.0	63.1	-3.0	41.6	51.4	46.5	3.8	29.5
Capital expenditure	8.8	13.0	4.5	6.7	8.2	22.5	12.3	8.0	13.3	22.2	10.7	10.4
Free cash flow	74.7	66.6	22.8	39.6	59.8	40.6	-15.4	33.6	38.0	24.3	-6.9	19.1
Buybacks	0.0	n/a	n/a	n/a	15.1	n/a	n/a	n/a	3.8	n/a	n/a	n/a
Dividends paid	7.8	8.2	8.2	8.2	8.2	8.6	8.6	8.6	8.4	8.8	8.8	8.8
Shares outstanding	18m	18m	18m	18m	18m	18m	18m	17m	17m	17m	17m	17m
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.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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-Q for the period ended 30 June 2024, filed 5 August 2024, accession 0000081362-24-000119: the filing on EDGAR. All of Quaker Chemical Corp.'s filings: EDGAR company page.

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