Quaker Chemical earnings hit by strong dollar

Quaker Chemical today reported net income down 22%, to $10.5 million, or 80 cts/share, on sales down 0.8%, to $180.9 million. Volumes were up 5% year-on-year, but exchange rates negatively impacted earnings by 6%. "As we look to the fourth quarter, we expect the challenging global economic environment to continue as well as some negative seasonality impacts around the holidays at year end. However, we remain committed to delivering good results through the execution of our business strategies. Overall, our expectations and guidance have not changed for our...

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