CONSHOHOCKEN, PA — Quaker Houghton (NYSE: KWR), a global leader in industrial process fluids, has reported its fourth-quarter and full-year 2024 financial results, underscoring its financial performance amidst challenging market conditions and unveiling strategic plans for 2025.
For the fourth quarter of 2024, the company recorded net sales of $444.1 million, representing a 5% decline compared to the same period in 2023. Net income for the quarter stood at $14.2 million, or $0.81 per diluted share, while non-GAAP net income and earnings per diluted share were $23.6 million and $1.33, respectively. Adjusted EBITDA for the quarter was $64.8 million, down 16% year-over-year, largely due to lower sales and operating margins.
For the full year, Quaker Houghton achieved net sales of $1.84 billion, net income of $116.6 million, and earnings per diluted share of $6.51. Non-GAAP net income for 2024 was $133.5 million, with non-GAAP earnings per diluted share reaching $7.44. The company’s adjusted EBITDA totaled $310.9 million for the year, reflecting the resilience of its business model despite softer end-market demand.
Joseph A. Berquist, Quaker Houghton’s Chief Executive Officer and President, expressed optimism about the company’s adaptability and progress. “In 2024, Quaker Houghton improved its profitability and generated strong cash flow, while managing through a challenging macro environment,” said Berquist. He highlighted new business wins across all regions, particularly in Asia/Pacific, which helped offset weaker demand in the Americas and EMEA segments.
The company also executed key strategic initiatives in 2024, completing two acquisitions—IKV Tribologie and the Sutai Group—and returning $82.4 million to shareholders through dividends and share repurchases. Operating cash flow for the year totaled $204.6 million, enabling robust reinvestment in growth opportunities.
Looking ahead, Quaker Houghton has outlined a 2025 strategy aimed at achieving sustained growth and operational efficiency. The company plans to implement cost-saving measures expected to yield at least $20 million in annual run-rate savings, while advancing its customer-focused “intimate model” and prioritizing strategic capital allocation.
“Our priorities are to deliver sustained growth and share gains by advancing our enterprise strategy, refocusing the organization, and effectively allocating capital,” said Berquist. “We anticipate these actions will enhance our operational efficiency, improve our competitiveness, and better leverage our global scale. Executing on our strategic initiatives will enable us to begin to unlock Quaker Houghton’s full potential.”
Quaker Houghton’s emphasis on disciplined execution of its long-term plans positions it favorably for success in 2025 and beyond. The company expects continued growth in revenue, adjusted EBITDA, and earnings as it capitalizes on market opportunities and further strengthens its global footprint.
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