Q2 2024 Quaker Chemical Corp Earnings Call Transcript
Key Points
- Gross margins improved to 37.9%, up 200 basis points from the prior year.
- Adjusted EBITDA increased by 5% year-over-year to $84 million.
- Strong performance in the Asia Pacific segment with high single-digit volume growth.
- Net leverage ratio improved to 1.7 times trailing 12-month adjusted EBITDA.
- Board authorized a 6.6% increase in cash dividend, reflecting confidence in cash flow generation.
- Net sales declined by 6% year-over-year to $464 million.
- Volumes in the Americas segment declined due to lower industrial activity and unplanned customer outages.
- EMEA segment faced uneven macroeconomic conditions, impacting performance.
- Overall industrial production remains soft globally, affecting end markets.
- Gross margins slightly decreased sequentially from 38.7% in Q1 to 37.9% in Q2.
Greetings, and welcome to the Quaker Houghton's Second Quarter 2024 Earnings Conference Call. (Operator instructions). As a reminder, this conference is being recorded.
I would now like to turn the call over to Jeffrey Schnell, Vice President of Investor Relations. Mr. Schnell, you may begin.
Thank you. Good morning, and welcome to our Second Quarter 2024 Earnings Conference Call. On the call today are Andy Tometich, our President and Chief Executive Officer; Tom Coler, our Executive Vice President and Chief Financial Officer; and Robert Traub, our General Counsel.
Our comments relate to the financial information released after the close of the US markets yesterday, August 5, 2024. Our press release and accompanying slides can be found on our Investor Relations website.
Both the prepared commentary and discussion during this call may contain forward-looking statements, reflecting the company's current view of future events and their potential effect on
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