Every material Form 8-K Balchem filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Balchem reported third quarter 2024 results for the period ended September 30, 2024, with net sales up 4.3% to $239.9 million and GAAP net earnings up 16.4% to $33.8 million. Adjusted EBITDA rose 7.6% to $64.4 million, and the company reported $1.2 million...
Net sales were $239.9 million, up 4.3% from $229.9 million in the prior year quarter.
GAAP diluted earnings per share were $1.03, compared with $0.90 a year earlier; adjusted earnings per share were $1.13, compared with $1.04.
Adjusted EBITDA was $64.4 million, up 7.6%, and free cash flow was $42.2 million.
Net debt was $153.3 million after $39.6 million of revolving debt repayments, a net leverage ratio of 0.6 times.
Balchem Corporation said director Joyce Lee resigned from its Board of Directors, accepted on October 16, 2024, under the company's governance guidelines because of a planned change in her principal employment. The Board thanked her for five years of service, and the filing discloses no replacement or financial impact.
Joyce Lee resigned as a Director; the Corporate Governance and Nominating Committee accepted it on October 16, 2024.
The resignation followed a planned change in Ms. Lee's principal employment, per Balchem's Corporate Governance Guidelines.
Ms. Lee served on the Board for about five years, according to the Board's statement.
The filing does not name a successor or any financial effect.
Balchem Corporation rebalanced its board by having four directors resign from one class and get immediately re-elected to another, effective September 20, 2024, so each class has about one-third of the directors. The board also adopted a Maryland provision under which board vacancies may be filled only by a majority of the remaining directors, a change that affects how future board seats are filled.
Daniel Knutson and Joyce Lee moved from Class 2 to Class 3 effective September 20, 2024.
Monica Vicente moved from Class 2 to Class 1, and Kathleen Fish moved from Class 1 to Class 2.
The board adopted the Maryland vacancy provision on September 18, 2024, and filed Articles Supplementary on September 19, 2024.
The filing states the reclassification was solely for rebalancing and that each director's service is deemed uninterrupted.
Balchem reported second quarter 2024 results for the period ended June 30, 2024, with net sales of $234.1 million, up 1.2%, and GAAP net earnings of $32.1 million, up 6.5%. Adjusted EBITDA was a record $62.3 million, up 5.0%, but the Animal Nutrition and Health segment's sales and earnings from operations fell sharply, which partly offset growth in the other two segments.
GAAP diluted earnings per share were $0.98, compared with $0.93 a year earlier; adjusted earnings per share were $1.09, compared with $1.06.
Human Nutrition and Health sales rose 9.0% to $147.9 million, and Specialty Products sales rose 7.2% to $35.1 million.
Animal Nutrition and Health sales fell 19.2% to $49.6 million, and its earnings from operations fell 64.9% to $2.7 million.
Free cash flow was $38.4 million, and the company repaid $35.0 million on its revolving debt, bringing net debt to $202.8 million.
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Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Balchem filing is on SEC EDGAR ↗. 8-K briefs of other companies →