Quaker Chemical Corporation (NYSE:KWR) Q2 2022 Earnings Conference Call August 5, 2022 8:30 AM ET

Company Participants

Jeffrey Schnell - Senior Director of Investor Relations

Andy Tometich - Chief Executive Officer and President

Shane Hostetter - Senior Vice President and Chief Financial Officer

Conference Call Participants

David Begleiter - Deutsche Bank

Pete Lukas - CJS Securities

Mike Harrison - Seaport Research

Dan Rizzo - Jefferies

Operator

Greetings, and welcome to the Quaker Houghton Second 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, Senior Director of Investor Relations. Mr. Schnell, you may begin.

Jeffrey Schnell

Thank you, David. Good morning, everyone. Welcome to Quaker Houghton's second 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, August 4th, 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. The second quarter was another record sales quarter for Quaker Houghton as we delivered double-digit growth led by strong and broad price increases. We continue to execute on items within our control. This includes making progress offsetting the significant and persistent inflationary pressures on our business, investing in our future and delivering on our customer commitments.

In the quarter, we achieved strong sales growth as we continue to address our top business priority of offsetting inflation while we also manage through various challenges that impacted our production and demand. These challenges not only include the significant inflationary pressures on our costs, but also raw material availability, COVID-19 disruptions in China, the ongoing war in Ukraine, supply chain and logistics challenges, unfavorable currency translation and the continuation of soft demand in certain end markets like automotive.