Balchem Corporation Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Balchem Corporation reported strong financial results for the fourth quarter and full year of 2024, achieving record net sales and adjusted EBITDA across all segments [2][3][6]. Financial Performance - Fourth quarter net sales reached $240.0 million, a 4.9% increase from $228.7 million in the prior year quarter [5][6]. - Net earnings for the fourth quarter were $33.6 million, reflecting a 26.0% increase from $26.6 million in the prior year quarter [6]. - Adjusted EBITDA for the fourth quarter was $62.8 million, up 13.4% from $55.4 million in the prior year quarter [6]. - For the full year 2024, net sales totaled $953.7 million, a 3.4% increase from $922.4 million in 2023 [6]. - Full year net earnings were $128.5 million, an 18.4% increase from $108.5 million in the prior year [6]. Segment Performance - The Human Nutrition & Health segment generated fourth quarter sales of $147.3 million, a 6.8% increase from the prior year quarter, with earnings from operations rising 33.9% to $33.8 million [8]. - The Animal Nutrition & Health segment reported quarterly sales of $58.3 million, a slight increase of 0.3%, with earnings from operations increasing 7.2% to $5.7 million [9]. - The Specialty Products segment achieved fourth quarter sales of $32.9 million, a 6.0% increase, with earnings from operations rising 15.9% to $10.0 million [10]. Cash Flow and Dividends - Free cash flow for the fourth quarter was $39.8 million, with cash flows from operations amounting to $52.3 million [6][13]. - The company paid down $119.6 million of debt during the year, allowing for a double-digit increase in dividends [3][6]. Balance Sheet Highlights - As of December 31, 2024, total assets were $1.575 billion, with total liabilities of $425.5 million [21][22]. - Cash and cash equivalents decreased to $49.5 million from $64.4 million in the prior year [21]. Management Outlook - The CEO expressed optimism about growth opportunities for 2025 and beyond, indicating a strong position for ongoing shareholder growth [4][14].