Quaker Chemical Corp. (KWR) announced a decline in third-quarter profits compared to the previous year, falling short of Wall Street predictions.
The company's net income for the period was $32.35 million, translating to earnings of $1.81 per share. This is a decrease from the third quarter of the previous year, when the net income was $33.67 million, or $1.87 per share.
On an adjusted basis, excluding certain items, Quaker Chemical Corp. posted earnings of $33.98 million, or $1.89 per share.
Analysts, as surveyed by Thomson Reuters, had anticipated earnings of $2.11 per share, which typically do not factor in special items.
The company's quarterly revenue experienced a 5.8% decline, reducing to $462.27 million from $490.61 million in the same quarter the previous year.
Key financial highlights for Quaker Chemical Corp. according to Generally Accepted Accounting Principles (GAAP) for Q3 include:
- Net Earnings: $32.35 million compared to $33.67 million last year.
- Earnings Per Share (EPS): $1.81, down from $1.87 last year.
- Revenue: $462.27 million, compared to $490.61 million last year.
