The following is a summary of the Balchem Corporation (BCPC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Balchem reported a Q2 revenue of $234 million, a 1.2% increase year-over-year.

• Gross margin expanded by 210 basis points to 35.5%, with gross margin dollars growing 7.3%.

• Q2 net income was $32 million, up 6.5% year-over-year, yielding earnings per share of $0.98 on a GAAP basis and $1.09 on a non-GAAP basis.

• Record quarterly adjusted EBITDA of $62 million, marking a 5% increase, with an adjusted EBITDA margin of 26.6%.

Business Progress:

• Continued strong performance in Human Nutrition & Health, driven by minerals, nutrients, and vitamins, with sales up 9%.

• Launched a new product, Optifolin+, a choline-enriched bioactive reduced folate contributing to the company's innovative edge.

• Specialty Product segment, mainly performance gases, reflected healthy sales growth with a 7.2% increase.

• Early signs of recovery in Animal Nutrition & Health segment with new product introductions expected to boost performance.

Opportunities:

• The introduction of Optifolin+, targeting a $1.5 billion market of folic acid, representing potential substantial revenue growth from this new bioactive product.

• The market positions and innovative product offerings enhance the company's potential to capitalize on favorable global health and nutrition trends.

Risks:

• Partial offset in sales growth due to decline in the Animal Nutrition & Health segment.

More details: Balchem IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.