Balchem Corporation (NASDAQ:BCPC) Q2 2024 Earnings Conference Call July 26, 2024 11:00 AM ET

Company Participants

Martin Bengtsson - Chief Financial Officer
Ted Harris - Chairman, President and CEO

Conference Call Participants

Kyle May - Sidoti and Company
Ram Selvaraju - H.C. Wainwright

Operator

Greetings. And welcome to the Balchem Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Martin Bengtsson, Chief Financial Officer. Thank you, Martin. You may begin.

Martin Bengtsson

Thank you, and good morning, everyone. Thank you for joining our conference call this morning to discuss the results of Balchem Corporation for the quarter ending June 30, 2024. My name is Martin Bengtsson, Chief Financial Officer; and hosting this call with me is Ted Harris, our Chairman, President and CEO.

Following the advice of our council, auditors and the SEC, at this time, I would like to read our forward-looking statement. Statements made in today’s calls that are not historical facts are considered forward-looking statements.

We can give no assurance that the expectations reflected in forward-looking statements will prove correct and various factors could cause actual results to differ materially from our expectations, including risks and factors identified in Balchem’s most recent Form 10-K, 10-Q and 8-K reports. The company assumes no obligation to update these forward- looking statements.

Today’s call and commentary also include non-GAAP financial measures. Please refer to the reconciliations in our earnings release for further details.

I will now turn the call over to Ted Harris, our Chairman, President, and CEO.

Ted Harris

Thanks, Martin. Good morning and welcome to our conference call. This morning, we reported solid second quarter financial results, with growth in sales, record earnings from operations and record-adjusted EBITDA.

I am particularly pleased with the excellent results within our Human Nutrition & Health segment, which once again delivered strong sales growth and record earnings. In addition, I am very pleased with the strong results within our Specialty Product segment, which also delivered strong sales growth and record earnings.

Our consolidated revenues of $234 million were higher by 1.2% versus the prior year, with the strong growth in Human Nutrition & Health and Specialty Products being partially offset by a decline in Animal Nutrition & Health.