Quaker Houghton reports Q4 non-GAAP EPS $1.78, consensus $1.67

Reports Q4 revenue $467.1M, consensus $470.56M. CEO Andy Tometich commented, “Quaker Houghton delivered solid fourth quarter results capping off a strong 2023. We generated record net sales and earnings in 2023, reflecting the considerable improvement in the profitability of our business while managing through a challenging market environment. These results, and our focus on working capital improvements, also led to record operating cash flow, which further strengthened our financial position. I am confident in our strategy and our ability to continue to outperform our markets, and we have the right team to further unlock our potential. Looking ahead, we expect current market conditions to persist through the first half of 2024. We are encouraged by the progress we have made advancing our enterprise strategy, earning new business with our valued customers, and positioning the Company to deliver long-term profitable growth. We expect to benefit from these ongoing actions in 2024 and deliver another year of earnings growth. Additionally, our balance sheet and cash generation capabilities are strong and we remain committed to our capital allocation priorities which are aimed at enhancing shareholder value.”