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.
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Quaker Houghton (NYSE: KWR) announced its first quarter 2023 earnings release date and investor call schedule. The earnings release is set for May 4, 2023, after market close, with the investor call taking place on May 5, 2023, at 8:30 a.m. ET. Interested parties can participate via phone or listen to a live audio webcast through their investor relations website. The dial-in number for the call is +1-877-269-7756 (toll-free) or +1-201-689-7817 (toll), and participants are encouraged to join 5-10 minutes early. For those unable to attend live, a digital replay will be available until May 19, 2023. Quaker Houghton is recognized as the global leader in industrial process fluids, serving a wide range of industries worldwide.
Quaker Houghton (NYSE: KWR) announced the appointment of Jeffrey L. Fleck as Senior Vice President and Chief Supply Chain Officer, effective February 27, 2023. Fleck will lead the global supply chain organization, aiming to enhance the company's operational efficiency and support its long-term growth strategy. Previously, he served in similar roles at Georgia-Pacific and Zep, Inc., bringing extensive supply chain management experience. CEO Andy Tometich welcomed Fleck, highlighting his leadership capabilities and expertise as crucial for optimizing Quaker Houghton's operations.
Quaker Houghton (KWR) reported Q4 2022 net sales of $484.8 million, an 8% increase from Q4 2021, primarily driven by higher selling prices. However, the company posted a net loss of $76.0 million, or $4.24 per diluted share, due to a $93.0 million impairment charge. Non-GAAP net income for the quarter was $25.0 million, with adjusted EBITDA of $67.9 million, a 12% increase year-over-year. Full-year net sales reached $1.9 billion, showing resilience amid inflation and market challenges. The CEO emphasized a focus on margin recovery and strategic initiatives for long-term growth during 2023.
The Board of Directors of Quaker Houghton (NYSE: KWR) has declared a quarterly cash dividend of $0.435 per share. This dividend is payable on April 28, 2023, to shareholders of record by the close of business on April 14, 2023. As a global leader in industrial process fluids, Quaker Houghton operates in over 25 countries and partners with various advanced industries. The company emphasizes its commitment to providing high-performing, innovative, and sustainable solutions to enhance customer operations.
Quaker Houghton (NYSE: KWR) will release its fourth quarter and full year 2022 earnings on February 23, 2023, after market close. An investor call is scheduled for February 24, 2023, at 8:30 a.m. ET. Investors can participate via phone or through a live audio webcast. Dial-in options include +1-877-269-7756 (toll-free) and +1-201-689-7817 (toll). A digital replay will be available until March 6, 2023 using Conference ID No. 13736037. Quaker Houghton is a global leader in industrial process fluids, operating in over 25 countries with approximately 4,700 employees.
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.