Welcome to our dedicated page for Quaker Chemical news (Ticker: KWR), a resource for investors and traders seeking the latest updates and insights on Quaker Chemical stock.
Quaker Houghton reports developments for an industrial process fluids business serving steel, aluminum, automotive, aerospace, offshore, container, mining and metalworking customers. News commonly covers quarterly and annual results, sales volume and pricing trends, adjusted EBITDA, cash flow, segment activity across the Americas, EMEA and Asia/Pacific, and demand tied to metalworking and industrial end markets.
Company updates also include dividend declarations, share repurchases, acquisitions, credit agreement amendments, debt maturity and liquidity actions, cost and transformation programs, and corporate responsibility recognition. Product themes include metal removal and forming fluids, cleaners, corrosion inhibitors, die-cast mold releases, quenchants, hydraulic fluids, specialty greases, rolling lubricants, and surface treatment chemicals.
Quaker Houghton (NYSE: KWR) has partnered with Constellation to purchase Renewable Energy Certificates (RECs) that will cover approximately 50% of its U.S. electricity needs. This initiative is part of Quaker Houghton's commitment to sustainability and achieving its greenhouse gas emissions targets by 2030. The RECs are certified by Green-e® Energy and sourced from renewable energy generators in the contiguous U.S. The company's CEO, Andy Tometich, emphasized the importance of sustainability in Quaker Houghton's long-term strategy, while Constellation supports its clients' sustainability goals.
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On November 16, 2022, Quaker Houghton (NYSE: KWR) declared a quarterly cash dividend of $0.435 per share, payable on January 31, 2023. Shareholders of record will be those holding shares by the close of business on January 17, 2023. Quaker Houghton is a global leader in industrial process fluids, serving numerous industries with innovative and sustainable solutions. The company employs approximately 4,700 people across over 25 countries, focusing on enhancing operational efficiency for advanced manufacturing sectors.
Quaker Houghton reported Q3 2022 net sales of $492.2 million, a 10% increase from Q3 2021, driven by price increases and acquisitions. Net income was $25.9 million ($1.44 per diluted share), down from $31.1 million in the prior year. Non-GAAP measures showed net income of $31.2 million and EBITDA of $70.3 million, a 6% rise from Q3 2021. Challenges included a 9% decline in organic volumes and foreign currency impacts. Despite this, the CEO expressed optimism about margin improvements and strategic growth initiatives moving forward.
Quaker Houghton will showcase its expertise in Tube & Pipe, Metal Surface Finishing, and Metal Forming at FABTECH 2022, held from November 8-10 in Atlanta, Georgia. The company will exhibit at booth B5159, featuring live demonstrations of the SIFCO Process®, a selective electroplating solution, and a range of industrial products including QUAKERCOOL® coolants and HOUGHTO-DRAW® fluids. With a focus on optimizing process fluids, Quaker Houghton aims to support operational efficiency and sustainability for its customers.
Quaker Houghton (NYSE: KWR) has scheduled its third quarter 2022 earnings release for November 3, 2022, after market close, followed by a teleconference on November 4, 2022, at 8:30 a.m. ET. Investors can listen to the call via phone at +1-877-269-7756 (toll-free) or +1-201-689-7817 (toll). For those unable to attend, a digital replay will be available through November 12, 2022. The company specializes in industrial process fluids and operates globally, supporting various sectors including automotive and aerospace.
Quaker Houghton reported record Q2 2022 net sales of $492.4 million, a 13% increase year-over-year, driven by rising selling prices despite a 6% foreign currency impact and 4% decrease in organic sales volumes. Net income dropped to $14.3 million or $0.80 per diluted share, down from $33.6 million in Q2 2021. Adjusted EBITDA fell to $58.5 million. The company amended its credit agreement, extending maturity to June 2027. CEO Andy Tometich emphasized a focus on pricing strategies to counter inflation and expected sequential gross margin expansion in H2 2022.
Quaker Houghton (NYSE: KWR) has declared a $0.435 per share quarterly cash dividend, marking a 5% increase from the previous dividend. The dividend will be payable on October 31, 2022, to shareholders on record by October 17, 2022. CEO Andy Tometich highlighted that this represents the company's 13th consecutive dividend increase and the 46th increase since it became public in 1972, reflecting their commitment to a balanced capital allocation strategy and confidence in future earnings and cash flow.
Quaker Houghton (NYSE: KWR) has scheduled its second quarter 2022 earnings release for August 4, 2022, after market close. The investor call will take place the following day, August 5, 2022, at 8:30 a.m. ET. Investors can participate via phone or through an audio webcast available on the investor relations section of Quaker Houghton's website. The earnings release is expected to provide insights into the company's financial performance during the quarter.
SKF and Quaker Houghton (NYSE: KWR) have formed a collaboration to promote the circular use of industrial oil. This initiative aims to reduce CO2 emissions and optimize resource utilization through SKF RecondOil's Double Separation Technology (DST). The partnership will introduce tailored solutions under fee- or performance-based contracts and initially launch in Europe, with plans for global expansion. Leaders from both companies emphasize the significance of improving factory ecosystems and enhancing customer experiences through sustainable practices.