First Quarter 2024 Results Investor Conference Call Forward-Looking Statements The attached charts include Company information that does not conform to generally accepted accounting principles ("GAAP"). Management believes that an analysis of this data is meaningful to investors because it provides insight with respect to ongoing operating results of the Company and helps investors to evaluate the financial results of the Company. These measures should not be viewed as an alternative to GAAP measures of per ...

Quaker Chemical Corporation (NYSE:KWR) Q1 2024 Earnings Conference Call May 3, 2024 8:30 AM ET Company Participants Jeffrey Schnell - Vice President, Investor Relations Andy Tometich - President and CEO Shane Hostetter - Executive Vice President and CFO Robert Traub - General Counsel Conference Call Participants Mike Harrison - Seaport Research Partners David Begleiter - Deutsche Bank Justin Ages - CJS Securities Dan Rizzo - Jefferies Arun Viswanathan - RBC Operator Greetings. Welcome to the Quaker Houghton ...

Financial Performance - Net sales for Q1 2024 were $469,759,000, a decrease of 6.1% from $500,148,000 in Q1 2023[10] - Gross profit increased to $181,563,000 in Q1 2024, up 4.4% from $173,450,000 in Q1 2023[10] - Operating income rose to $55,526,000, reflecting an increase of 11.7% compared to $49,929,000 in the same period last year[10] - Net income attributable to Quaker Chemical Corporation was $35,227,000, a 19.0% increase from $29,534,000 in Q1 2023[10] - Basic net income per share increased to $1.96, up from $1.64 in Q1 2023, representing a growth of 19.5%[10] - Comprehensive income attributable to Quaker Chemical Corporation was $12,655,000, down from $44,597,000 in Q1 2023[13] - The Company generated net income of $35.2 million, or $1.95 per diluted share, in Q1 2024, compared to $29.5 million, or $1.64 per diluted share, in Q1 2023, reflecting a year-over-year increase of 19% in net income[92] - Non-GAAP earnings per diluted share for Q1 2024 were $2.09, up from $1.89 in the prior year quarter, indicating a growth of approximately 10.6%[92] - Adjusted EBITDA for Q1 2024 was $83.3 million, compared to $78.8 million in Q1 2023, representing a year-over-year increase of 5.7%[92] Cash Flow and Investments - Cash and cash equivalents at the end of Q1 2024 were $195,750,000, slightly up from $194,527,000 at the end of Q4 2023[16] - The company reported a net cash provided by operating activities of $27,231,000, a decrease from $37,782,000 in Q1 2023[19] - Cash used in investing activities increased to $29.3 million in Q1 2024 from $6.2 million in Q1 2023, primarily due to payments related to the IKV acquisition[101] - Cash flows provided by financing activities were $6.6 million in Q1 2024, a significant improvement compared to cash used in financing activities of $24.9 million in Q1 2023[102] Debt and Financing - Total debt as of March 31, 2024, was $769.632 million, an increase from $755.612 million as of December 31, 2023[64] - The weighted average variable interest rate on outstanding borrowings under the Credit Facility was approximately 6.4% for the three months ended March 31, 2024[67] - Interest expense for the three months ended March 31, 2024, was $11.282 million, down from $13.876 million in the same period of 2023[73] - The Company entered into $300 million notional amounts of interest rate swaps to convert variable rate borrowings to a fixed rate of 3.64% plus an applicable margin[68] - Total net debt as of March 31, 2024, was approximately $573.8 million, calculated as total borrowings of $769.6 million less cash and cash equivalents[104] Segment Performance - Segment operating earnings for the Americas increased slightly to $66.8 million in Q1 2024 from $66.1 million in Q1 2023, while EMEA segment operating earnings rose to $29.6 million from $27.6 million[33] - The Americas segment accounted for approximately 49% of consolidated net sales in Q1 2024, with net sales of $229.8 million, a decrease of 9% year-over-year[142] - The EMEA segment represented approximately 29% of consolidated net sales in Q1 2024, with net sales of $138.4 million, also a decrease of 9% year-over-year[144] - The Asia/Pacific segment accounted for approximately 22% of consolidated net sales in Q1 2024, with net sales of $101.6 million, an increase of 6% year-over-year[145] Acquisitions and Restructuring - The Company acquired I.K.V. Tribologie IKVT for €32.2 million ($34.6 million), enhancing its position in high-performance lubricants and greases[27] - Restructuring costs incurred during Q1 2024 amounted to $1.9 million, with a total of approximately 120 positions expected to be reduced globally[44] Shareholder Returns - The company declared dividends of $0.455 per share, an increase from $0.435 per share in Q1 2023[10] - The Company initiated a new share repurchase program authorizing the repurchase of up to $150 million of its outstanding common stock[112] - No shares were acquired under the 2024 Share Repurchase Program during the quarter ended March 31, 2024[165] Tax and Regulatory - The effective tax rate for Q1 2024 was 27.3%, slightly down from 27.7% in Q1 2023[60] - The company anticipates continued volatility in effective tax rates due to factors such as tax audits, uncertain tax positions, and foreign tax credit valuation allowances[137] Other Financial Metrics - Total other income for Q1 2024 was $1.080 million, compared to a loss of $2.239 million in Q1 2023[58] - SG&A expenses increased by approximately $4.7 million, or 4%, to $124.2 million in Q1 2024, driven by higher labor-related costs[131] - The net periodic benefit cost for pension benefits in Q1 2024 was $588,000, down from $671,000 in Q1 2023[55] - The Company expects to make full year cash contributions of approximately $5.7 million to its pension plans in 2024[56]

Exhibit 99.1 NEWS Contact: Jeffrey Schnell Vice President, Investor Relations investor@quakerhoughton.com T. 1.610.832.4087 For Release: Immediate QUAKER HOUGHTON ANNOUNCES FIRST QUARTER 2024 RESULTS May 2, 2024 CONSHOHOCKEN, PA – Quaker Houghton ("the Company") (NYSE: KWR), the global leader in industrial process fluids, announced its first quarter 2024 results today. | | | Three Months Ended | | | --- | --- | --- | --- | | | | March 31, | | | ($ in thousands, except per share data) | 2024 | | 2023 | | Net ...

CONSHOHOCKEN, Pa., April 22, 2024 /PRNewswire/ -- Quaker Houghton (NYSE: KWR) the global leader in industrial process fluids, today announced the release of its 2023 Sustainability Report. The report highlights how the Company combines its solutions with industry insight and intelligence to See Beyond™ the issues of today and secure a better tomorrow. Andy Tometich, Chief Executive Officer and President commented, "In 2023, we continued to advance our sustainability initiatives, making targeted investments ...

CONSHOHOCKEN, Pa., April 18, 2024 /PRNewswire/ -- Quaker Houghton (NYSE: KWR) today announced the following schedule and contact information for its first quarter 2024 earnings release and investor call. Earnings Release: Thursday, May 2, 2024 (after market close) Visit the investor relations portion of Quaker Houghton's website at https://investors.quakerhoughton.com/ Teleconference: Friday, May 3, 2024, at 8:30 a.m. (ET) Participate live by phone or listen to live audio webcas ...

Quaker Houghton Forward-Looking Statements Forward-Looking Statements Non-GAAP and Pro Forma Measures Additionally, the Company presents non-GAAP net income and non-GAAP earnings per diluted share as additional performance measures. Non-GAAP net income is calculated as adjusted EBITDA, defined above, less depreciation and amortization, interest expense, net, and taxes on income (loss) before equity in net income of associated companies, in each case adjusted, as applicable, for any depreciation, amortizatio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 001-12019 QUAKER CHEMICAL CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 23-0993790 (St ...

Exhibit 99.1 For Release: Immediate QUAKER HOUGHTON ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS February 29, 2024 CONSHOHOCKEN, PA – Quaker Houghton ("the Company") (NYSE: KWR), the global leader in industrial process fluids, today announced its fourth quarter and full year 2023 results. | | Three Months Ended | | | | Twelve Months Ended | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | December 31, | | | | December 31, | | | | | ($ in thousands, except per share data) | 2023 | | | ...

Quaker Chemical Corporation (NYSE:KWR) Q3 2023 Earnings Call Transcript November 3, 2023 8:30 AM ET Company Participants Jeffrey Schnell - Vice President, Investor Relations Andy Tometich - President and Chief Executive Officer Shane Hostetter - Executive Vice President and Chief Financial Officer Conference Call Participants Mike Harrison - Seaport Research Partners Vincent Anderson - Stifel Justin Ages - CJS Securities Arun Viswanathan - RBC Capital Markets David Begleiter - Deutsche Bank Operator Greetin ...