February 21, 2025
Balchem Reports Fourth Quarter and Full Year 2024 Financial Results
Ted Harris, Chairman, President, and CEO of Balchem said, “The fourth quarter capped off another very strong year for Balchem. We delivered record fourth quarter net sales and adjusted EBITDA, with top and bottom line year over year growth in each of our three segments.”
Montvale, NJ, February 21, 2025 – Balchem Corporation (NASDAQ: BCPC) reported today financial results for its 2024 fiscal fourth quarter ended December 31, 2024. For the quarter, the Company reported net sales of $240.0 million, net earnings of $33.6 million, adjusted EBITDA(a) of $62.8 million, and free cash flow(a) of $39.8 million.
Fourth Quarter 2024 Financial Highlights:
- Record net sales of $240.0 million, an increase of $11.3 million, or 9%, compared to the prior year quarter.
- GAAP net earnings were $33.6 million, an increase of 0% from the prior year quarter.
- Record adjusted EBITDA was $62.8 million, an increase of 4% from the prior year quarter.
- GAAP earnings per share of $1.03 compared to $0.82 in the prior year quarter and adjusted earnings per share(a) of $1.13 compared to $0.95 in the prior year quarter.
- Cash flows from operations were $52.3 million, with free cash flow(a) of $39.8 million.
Full Year 2024 Financial Highlights:
- Record full year net sales of $953.7 million, an increase of $31.2 million or 4%, compared to the prior year with record sales achieved in the Human Nutrition & Health and Specialty Products segments.
- GAAP net earnings were $128.5 million, an increase of 4% from the prior year. These net earnings resulted in GAAP earnings per share of $3.93 compared to $3.35 in the prior year.
- Record adjusted EBITDA was $250.3 million, an increase of 4%, from the prior year.
- Adjusted net earnings were $143.0 million, an increase of 2% from the prior year. These adjusted net earnings resulted in adjusted earnings per share of $4.37 compared to $4.00 in the prior year.
- Cash flows from operations were $182.0 million for 2024, with free cash flow of $147.2 million.
(a) See “Non-GAAP Financial Information” for reconciliations of GAAP and non-GAAP financial measures.
Quarterly Conference Call
A quarterly conference call will be held on Friday, February 21, 2025, at 11:00 AM Eastern Time (ET) to review fourth quarter 2024 results. Ted Harris, Chairman, President, and CEO and Martin Bengtsson, CFO will host the call. We invite you to listen to the conference by calling toll-free 1-877-407-8289 (local dial-in 1-201-689-8341), five minutes prior to the scheduled start time of the conference call. The conference call will be available for replay three hours after the conclusion of the call through end of day Friday, March 7, 2025. To access the replay of the conference call, dial 1-877-660-6853 (local dial-in 1-201-612-7415), and use conference ID #13751680.
