Quaker Chemical Corporation (NYSE:KWR) Q3 2022 Earnings Conference Call November 4, 2022 8:30 AM ET

Company Participants

Jeffrey Schnell - Head of Investor Relations

Andy Tometich - Chief Executive Officer and President

Shane Hostetter - Senior Vice President and Chief Financial Officer

Conference Call Participants

Mike Harrison - Seaport Research Partners

David Begleiter - Deutsche Bank

Laurence Alexander - Jefferies

Jon Tanwanteng - CJS Securities

David Silva - CLK

Arun Viswanathan - RBC

Operator

Greetings, and welcome to the Quaker Houghton Third Quarter 2022 Earnings Conference Call. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to Jeffrey Schnell, Head of Investor Relations. Mr. Schnell, you may begin.

Jeffrey Schnell

Thank you, Paul. Good morning, everyone. Welcome to Quaker Houghton's third quarter 2022 earnings conference call. Joining us on the call today are Andy Tometich, our Chief Executive Officer and President; and Shane Hostetter, our Senior Vice President and Chief Financial Officer; and Robert Traub, our General Counsel.

Our comments relate to the financial information released after the close of U.S. markets yesterday, November 3rd, 2022. Our press release and accompanying slides can be found on our investor website. Both the prepared commentary and discussion during this call may contain forward-looking statements reflecting the company's current view of future events and their potential effect on Quaker Houghton's operating and financial performance. These statements involve uncertainties and risks, which may cause actual results to differ. The company is under no obligation to provide subsequent updates to these forward-looking statements.

This presentation also contains certain non-GAAP financial measures, and the company has provided reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures in the appendix of the presentation materials which are available on our website. For more information, please refer to our filings with the SEC.

Now, it's my pleasure to hand the call over to Andy.

Andy Tometich

Thank you, Jeff, and good morning everyone. In the third quarter, we delivered double digit growth led by strong price realization. We continue to execute on items within our control, countering softer market conditions, continued supply chain and raw material challenges and significant foreign currency translation. We are making further progress addressing our overall margins by offsetting the significant and persistent inflationary pressures on our business.

Throughout the quarter, the team remain focused on our objectives. This includes taking steps to optimize our business and control costs, while balancing investments to support and accelerate our long term growth initiatives. All, while we continue to prioritize delivering value for customers in a highly complex operating environment.