Record First Quarter Consolidated Sales
Balchem Corporation reported record first quarter consolidated revenue of $251 million, which was 4.5% higher than the prior year quarter.
Substantial Growth in Adjusted EBITDA
The company delivered a record quarterly adjusted EBITDA of $66 million, an increase of 8.9% with an adjusted EBITDA margin of 26.5%, up 106 basis points from the prior year.
Significant Increase in Net Income
Consolidated net income for the quarter was $37 million, an increase of 27.8% from the prior year.
Strong Performance Across All Segments
All three segments, Human Nutrition & Health, Animal Nutrition & Health, and Specialty Products, showed year-over-year sales and earnings growth.
Decreased Operating Expenses
Consolidated operating expenses for the first quarter were $37 million compared to $40 million in the prior year, primarily due to lower amortization expense and a decrease in compensation-related costs.