BCPC FY 2023 Earnings Report — Balchem Corporation Revenue & Financial Results | Market Cap Arena

Balchem CorporationBCPC

FY 2023 Earnings

Reported February 16, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$922M	—	$942M	—	-2.1%
Op. Income	$159M	—	$145M	—	9.6%
Gross Margin	32.7%	—	29.8%	—	3.0pp
Net Margin	11.8%	—	11.2%	—	0.6pp
EPS (Diluted)	$3.35	—	$3.25	—	3.1%
Free Cash Flow	$146M	—	$88M	—	65.3%

Revenue Flow

Item	Amount
REVENUE	$922M
Cost of Revenue	$620M
GROSS PROFIT	$302M
R&D Expenses	$15M
Selling & Marketing	$74M
General & Administrative	$56M
SG&A Expenses	$130M
Other Expenses	-$2M
Operating Expenses	$143M
Cost & Expenses	$763M
OPERATING INCOME	$159M
Interest Income	$0
Interest Expense	$23M
Other Income/Expenses	-$22M
INCOME BEFORE TAX	$137M
Income Tax Expense	$29M
Net Income from Continuing Ops	$109M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$109M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$109M
D&A	$55M
EBIT	$160M
EBITDA	$215M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$922M
Cost of Revenue	$620M
GROSS PROFIT	$302M
R&D Expenses	$15M
Selling & Marketing	$74M
General & Administrative	$56M
SG&A Expenses	$130M
Other Expenses	-$2M
Operating Expenses	$143M
Cost & Expenses	$763M
OPERATING INCOME	$159M
Interest Income	$0
Interest Expense	$23M
Other Income/Expenses	-$22M
INCOME BEFORE TAX	$137M
Income Tax Expense	$29M
Net Income from Continuing Ops	$109M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$109M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$109M
D&A	$55M
EBIT	$160M
EBITDA	$215M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$109M
Depreciation & Amortization	$55M
Stock-Based Compensation	$16M
Deferred Income Tax	-$11M
Other Non-Cash Items	-$5M
Change in Working Capital	$20M
OPERATING CASH FLOW	$184M
Capital Expenditure	-$38M
Acquisitions (Net)	-$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$3M
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$35M
Net Debt Issuance	-$131M
Common Stock Repurchased	-$4M
Common Dividends Paid	-$23M
Other Financing Activities	$5M
NET CASH FROM FINANCING	-$153M
FREE CASH FLOW	$146M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$64M
Short-Term Investments	$0
Net Receivables	$125M
Inventory	$110M
Other Current Assets	$7M
TOTAL CURRENT ASSETS	$314M
PP&E (Net)	$296M
Goodwill	$779M
Intangible Assets	$191M
Long-Term Investments	$4M
Tax Assets	$0
Other Non-Current Assets	$13M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.6B
Account Payables	$56M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$72M
TOTAL CURRENT LIABILITIES	$148M
Long-Term Debt	$310M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$52M
Other Non-Current Liabilities	$17M
TOTAL NON-CURRENT LIABILITIES	$395M
TOTAL LIABILITIES	$543M
Common Stock	$2M
Additional Paid-In Capital	$146M
Retained Earnings	$897M
Treasury Stock	$0
Accum. Other Comp. Income	$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$1.6B
Total Debt	$330M
Net Debt	$266M