$KWR
QUAKER CHEMICAL CORP

2023 Q3 Form 10-Q Financial Statement

#000008136223000054 Filed on August 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $490.6M $495.4M
YoY Change -0.33% 0.62%
Cost Of Revenue $307.3M $317.8M
YoY Change -7.3% -7.31%
Gross Profit $183.3M $177.7M
YoY Change 14.06% 18.81%
Gross Profit Margin 37.37% 35.87%
Selling, General & Admin $122.8M $119.9M
YoY Change 6.37% 3.47%
% of Gross Profit 66.98% 67.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.60M $20.58M
YoY Change 4.8% -0.05%
% of Gross Profit 11.24% 11.58%
Operating Expenses $122.8M $119.9M
YoY Change 6.37% 3.47%
Operating Profit $59.52M $57.84M
YoY Change 33.42% 81.29%
Interest Expense -$15.30M -$16.95M
YoY Change 48.3% 98.9%
% of Operating Profit -25.71% -29.3%
Other Income/Expense, Net -$2.713M $619.0K
YoY Change -3291.76% -107.37%
Pretax Income $44.02M $40.47M
YoY Change 21.26% 137.91%
Income Tax $13.59M $13.83M
% Of Pretax Income 30.88% 34.18%
Net Earnings $33.67M $29.19M
YoY Change 30.17% 103.53%
Net Earnings / Revenue 6.86% 5.89%
Basic Earnings Per Share $1.87 $1.63
Diluted Earnings Per Share $1.87 $1.63
COMMON SHARES
Basic Shares Outstanding 18.00M shares 17.98M shares
Diluted Shares Outstanding 17.92M shares 17.92M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $198.4M $189.4M
YoY Change 42.85% -6.4%
Cash & Equivalents $198.4M $189.4M
Short-Term Investments
Other Short-Term Assets $70.70M $65.43M
YoY Change 5.9% 1.16%
Inventory $250.8M $274.9M
Prepaid Expenses
Receivables $446.5M $454.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $966.3M $984.0M
YoY Change -1.87% -5.91%
LONG-TERM ASSETS
Property, Plant & Equipment $196.4M $245.7M
YoY Change 4.28% 27.65%
Goodwill $504.5M $507.4M
YoY Change -14.65% -16.85%
Intangibles $890.5M $918.1M
YoY Change -2.78% -4.62%
Long-Term Investments $92.97M $91.96M
YoY Change 21.13% 9.9%
Other Assets $33.71M $43.05M
YoY Change 24.08% 49.47%
Total Long-Term Assets $1.766B $1.806B
YoY Change -4.36% -6.17%
TOTAL ASSETS
Total Short-Term Assets $966.3M $984.0M
Total Long-Term Assets $1.766B $1.806B
Total Assets $2.733B $2.790B
YoY Change -3.5% -6.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $190.1M $193.8M
YoY Change -9.21% -21.33%
Accrued Expenses $60.90M $54.29M
YoY Change 28.29% 20.21%
Deferred Revenue
YoY Change
Short-Term Debt $19.25M $0.00
YoY Change -5.98% -100.0%
Long-Term Debt Due $19.20M $19.37M
YoY Change -6.21% 33.72%
Total Short-Term Liabilities $352.1M $346.5M
YoY Change -3.73% -13.52%
LONG-TERM LIABILITIES
Long-Term Debt $805.0M $863.9M
YoY Change -13.58% -11.15%
Other Long-Term Liabilities $33.21M $86.86M
YoY Change -15.96% 105.93%
Total Long-Term Liabilities $838.2M $950.8M
YoY Change -13.68% -6.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $352.1M $346.5M
Total Long-Term Liabilities $838.2M $950.8M
Total Liabilities $1.391B $1.454B
YoY Change -10.34% -11.34%
SHAREHOLDERS EQUITY
Retained Earnings $538.6M $513.1M
YoY Change -2.72% -4.2%
Common Stock $956.5M $952.9M
YoY Change 1.43% 1.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.340B $1.336B
YoY Change
Total Liabilities & Shareholders Equity $2.733B $2.790B
YoY Change -3.5% -6.08%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $33.67M $29.19M
YoY Change 30.17% 103.53%
Depreciation, Depletion And Amortization $20.60M $20.58M
YoY Change 4.8% -0.05%
Cash From Operating Activities $83.40M $78.27M
YoY Change -566.7% -3785.03%
INVESTING ACTIVITIES
Capital Expenditures $8.800M $10.88M
YoY Change -272.82% -272.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$8.800M -$10.88M
YoY Change 70.87% 75.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -61.50M -64.15M
YoY Change 91.77% -210.46%
NET CHANGE
Cash From Operating Activities 83.40M 78.27M
Cash From Investing Activities -8.800M -10.88M
Cash From Financing Activities -61.50M -64.15M
Net Change In Cash 13.10M 3.241M
YoY Change -123.78% -93.48%
FREE CASH FLOW
Cash From Operating Activities $83.40M $78.27M
Capital Expenditures $8.800M $10.88M
Free Cash Flow $74.60M $67.39M
YoY Change -683.82% 1517.25%

Facts In Submission

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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17830218 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.63
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.80
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.91
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
29346000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
14343000 usd
us-gaap Net Income Loss
NetIncomeLoss
58880000 usd
us-gaap Net Income Loss
NetIncomeLoss
34159000 usd
CY2023Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
154000 usd
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
58000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
299000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
136000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
29192000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14285000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
58581000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
34023000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17892444 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17834329 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17879629 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17830218 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
28970 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7048 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
30277 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
17186 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17921414 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17841377 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17909906 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17847404 shares
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.63
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.80
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.91
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8232 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10940 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33039 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24731 shares
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-7638000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
507370000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1000782000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
997740000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
273980000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
243957000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
726802000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
753783000 usd
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
353000 usd
CY2022Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1049000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
706000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2236000 usd
CY2023Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
14742000 usd
CY2022Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
7183000 usd
us-gaap Interest And Debt Expense
InterestAndDebtExpense
28971000 usd
us-gaap Interest And Debt Expense
InterestAndDebtExpense
13116000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14692000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14688000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29205000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29241000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
28739000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
57381000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
56571000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
56354000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
56056000 usd
CY2023Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
191300000 usd
CY2023Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
885072000 usd
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
954798000 usd
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1769000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1992000 usd
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
19369000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
19245000 usd
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
863934000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
933561000 usd
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
14389000 usd
CY2022Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
6134000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
28265000 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
10880000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-5789000 usd
CY2023Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
669000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1811000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-75046000 usd
CY2022Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
543000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-482000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
9402000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
705000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-1975000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-81330000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
783000 usd
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
-709000 usd
CY2023Q2 us-gaap Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
1900000 usd
CY2023Q2 us-gaap Cash Surrender Value Fair Value Disclosure
CashSurrenderValueFairValueDisclosure
276000 usd
CY2023Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
276000 usd
CY2022Q4 us-gaap Cash Surrender Value Fair Value Disclosure
CashSurrenderValueFairValueDisclosure
2114000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2114000 usd
CY2023Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
27850000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
5926000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
0 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
2904000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-378000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
3196000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-1015000 usd
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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