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Quaker Chemical earnings rise on higher volumes
2:53 PM MDT | July 29, 2013 | Vincent Valk
Quaker Chemical’s second-quarter net income rose 42.7% year-on-year (YOY), to $16.7 million, or $1.22/share, on net sales up 5%, to $184.8 million. Adjusted earnings totaled $1/share, beating analysts’ estimates of 92 cts/share, as reported by Thomson Reuters. Adjusted earnings excluded some earnings from a tax refund and affiliate income. Volumes rose revenues by 6%, while selling prices and product mix reduced revenues by 1%. Margins also increased, the company says. “Our market share gains and acquisitions have helped us to grow despite...
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