Balchem Q2 sales beat analyst expectations
Overview
Balchem fiscal Q2 net sales rise 9.1% yr/yr, beating analyst expectations
Adjusted EBITDA for fiscal Q2 grows 11.2% yr/yr, reaching $69.2 mln
Co plans $36 mln facility in NY to expand micro-encapsulation capacity
Outlook
Balchem plans new facility to expand micro-encapsulation capacity
Company sees European anti-dumping duties as positive market development
Result Drivers
HUMAN NUTRITION GROWTH - Driven by higher sales in food ingredients and solutions, and nutrients, contributing to record segment sales
ANIMAL NUTRITION INCREASE - Higher sales in ruminant and monogastric species markets boosted segment performance
SPECIALTY PRODUCTS RISE - Growth in performance gases and plant nutrition businesses led to record sales
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Beat | $255.50 mln | $250.30 mln (3 Analysts) |
Q2 EPS |
| $1.17 |
|
Q2 Net Income |
| $38.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialty chemicals peer group is "buy"
Wall Street's median 12-month price target for Balchem Corp is $192.00, about 20.8% above its July 30 closing price of $152.09
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 32 three months ago
Press Release: ID:nGNXpnSQj
