BCPC - Earnings call transcript Q4 2024

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Operator

Greetings, and welcome to Balchem's Fourth Quarter and Full Year 2024 Earnings Call.

[Operator Instructions] Please note that this conference is being recorded. I will now turn the conference over to our host, Martin Bengtsson, Chief Financial Officer. Thank you, sir.

begin. may You

Carl Bengtsson

name morning, Ted call Good Balchem you joining CEO. call XXXX. for for Officer, Chief Thank hosting our and morning everyone. Chairman, to conference this My XX, December this quarter me of Martin discuss our Bengtsson, the Financial is you. with ending Thank is Harris, the Corporation and results President

statement. expectations, at our Statements refer measures. advice including statements. our assurance Form call no statements. in are read counsel, this earnings release SEC, time, from correct in materially and reflected of risks the to for most factors facts I obligation the statements the forward-looking also that in that Following our The We differ financial reconciliations to call XX-Q to will include and results details. and forward-looking XX-K, Please company made identified today's in historical cause recent Today's further our no to commentary are X-K the Balchem's prove like would factors and auditors various expectations reports. forward-looking assumes can not these and give forward-looking update considered actual could non-GAAP

call the will now Harris, President our Chairman, CEO. to I turn over Ted and

Theodore Harris

Thanks, conference our morning, Martin. Good and call. welcome to

in segments, quarter as sequential Animal as and Nutrition Health & the Human with EBITDA our another year-over-year earnings from achieved adjusted all delivered X modest We off sales, in for year record significant strong I record reporting & sales our the ongoing of fourth results financial our quarter pleased and segments. pleased sales We consolidated XXXX, Nutrition am which Health the and are growth Balchem. net Products with and Specialty of growth in very which adjusted for the segment. year-over-year capped of earnings, earnings fourth both quarter improvement operations delivered and fourth well particularly strength with

accomplishments full team detail past a Overall, more like over some Balchem the would to earnings year $XXX on the both quarter, significant into XXXX with reflect strong and in we Products for X.X% year Nutrition the the on sales for Specialty year, achieved compared minutes achieved Health strong Human the few Before We the to get another growing growth sales prior segments. and I Balchem. was million, record of year. of &

We from of of operations delivered EBITDA increase of increase million, XX.X% an $XXX year. from record earnings $XXX the an X.X% of record and million, prior also adjusted

of our further million In debt pay addition, on X.Xx. and to debt a our basis flow $XXX we allowing cash to us generated down free reduce strong leverage ratio net

also our made initiatives. good very strategic on progress We

launch growth. have our We enhanced innovate or continued new to products support and to

Human Nutrition & brought X to market. Our innovative products Health new segment

specialty a KXVITAL vitamin a which is microencapsulated first is patented from fermented, in fermentation DELTA form. The KX

VitaCholine our to our VitaCholine, second designed our healthier will nutrients the making of bioactive an multivitamins. health is cellular that The specifically a which is is folate third ingredient at which reduced Pro-Flo, for choline supports enriched existing is patented enhanced Optifolin+, all And formulation in of the offering These value vision existing customers, vitamins bring of life. a enable our to minerals, supporting more simultaneously add and stages to product place. while world launches and us of even inclusion

sustainability. addition cow is offers productivity products, Animal a & when and economically Health focused acid amino content lysine which reliably portfolio also a to and is meet great Animal AminoShure-XL, lysine bioavailability the requirements dairy designed Our on performance and considering of dairy lysine segment's lactating feed AminoShure-XL a product, consistently, Health encapsulated leading rumen-protected of and the Nutrition Nutrition segment to & newly-developed release next-generation cattle. stability, high-performing launched precision optimizing

brand market-leading some team. And also of building proud sports a VitaCholine, on of the NFL became partner professional brand We of KXVITAL, choline, progress for market-leading Jets, New awareness consumer the major market-leading team nutrient York made social essential market drive Balchem's further have Balchem's These on presence, of our a brands. to and and health. focus indeed specialty Munich brands. women's vitamin awareness for KX, with addition Bayern recently just partnerships, the media to awareness in increase women's our to partnered helping build our soccer increased is penetration drive the

pleased reduced significant compared In and tracking Goals progress Sustainability made already greenhouse withdrawal water usage reductions. our are our of our XX% emissions Balchem toward by We usage baseline, XXXX greenhouse we were also successfully out on water by emissions our gas substantial gas water report XXXX reduction XXXX, We that sixth to our in ahead reduce annual approximately on progress extremely objective. both in to to XXXX report goal XX%. showing sustainability XXXX

also advance several completed goal. of water reach XXXX to our in to the in so of We last within capital were important that next the collectively August or year year, us allow well projects designed goal usage

share, the continue operating objectives, and as time, X in December, lastly, increase And both once as remains world stakeholders. innovative Balchem's to the dividend, per taking of excellence double-digit health commitment growth to marked which our the dividend, we strategically needs our our Balchem. reinforced providing another in dividend the $X.XX recent and consecutive stewards again dividend XX% focus unchanged financially annual with from of the year, another for most and of at same XXth to strong to long-standing strategy. for solutions our approach main on all, our we increase a nutritional increase announced strong This year All our of $X.XX year-over-year.

fourth $XX we of quarter of at the an than of the delivered $XX an with margin basis up Now million, earnings net higher an year, EBITDA revenues EBITDA increase Consolidated quarter and income of closed the quarter the we X.X% quarterly morning, higher prior was XXX prior of million, were points million, GAAP This increase record of versus prior fourth adjusted quarter. operations adjusted quarter XX.X%, from year XX.X% XX.X% for regarding from year. fourth which $XXX XX%. the reported consolidated by XXXX. record the

basis, on income $XX to our $X.XX per to increase earnings net the XX.X% of quarterly adjusted net fourth translated us. quarter diluted Overall, or up million, which, an $X.XX net XX.X% prior record said translated very quarter capped basis, GAAP were off share. of strong earnings On per strong This another for which year earlier, I to adjusted compared year, year. from share prior Balchem, diluted an as a the for $X.XX another

back go in detail. a through for results more company going business to I'm the turn financial and for of our now little segments results the to to the over call consolidated fourth quarter Martin the each

Carl Bengtsson

Ted. you, Thank

overall, another with quarter earnings was from As quarter adjusted fourth growth. for strong growth mentioned, Ted and the EBITDA and Balchem, strong solid sales operations

of sales up in X were by segments: Our $XXX million and all fourth Specialty X.X%, Nutrition & Human Products. Health growth & quarter driven Nutrition Health, net Animal

margin lower due expenses expenses higher for XX.X%, primarily X.X% amortization. margin prior the of due portfolio up outside to year. services, offset sales, were up million by fourth a increase to higher basis mix. quarter partially our Our dollars points was costs, prior fourth $XX Consolidated percentage in were year, $XX compared of XX% quarter and gross to operating the The favorable an primarily gross up increase and compensation-related XXX the compared transaction million, was to

adjusted morning, million earnings quarter rate prior the margin with XX.X%. of XX.X%. up On earnings $XX by GAAP million, an outstanding $XX $XX to of to expense compared an to as were million increase adjusted compared interest year, compared were from million, an lower EBITDA this of million, for prior release the basis, was $X EBITDA driven of year borrowings. fourth increase was the XX.X% $X of year. earnings reduction Adjusted XX.X% Net an primarily in a from operations detailed our operations non-GAAP prior the

We ended X.Xx. flows to we continue down cash leverage reduced $XX $XXX fourth our quarter million, the an debt quarter net of to in net use by of basis debt, with our pay with and ratio on and overall million the a debt debt strong

rate Our was fourth rates closed from of quarter increase certain million, tax quarters XXXX due in and an XX%. XX.X% year foreign tax prior net the increase at XX.X%, $XX the increase respectively. primarily in an Consolidated income XXXX for the The taxes. of and to effective effective the were

into income of net diluted fourth an compared an to adjusted net quarter prior net were the increase $X.XX translated year. $X.XX share, to earnings per year. translated increase or On share earnings basis, from million of prior our of $X.XX, $XX XX.X% quarterly This adjusted diluted XX.X% per an

flow We and cash quarter from operations earnings into fourth the we balance million, cash were million of quarter with $XX closed translate sheet. $XX on out and continue the to our cash

prior food sales an year. & of higher and from at As segment increase solutions sales ingredients a X.X% quarter increase from businesses of both business. the the segment the we driven perspective, Health was look and million, within $XXX generated by our Human The Nutrition the nutrients fourth

segment & segment this from Our of operations were XX.X%. million, earnings Health from Adjusted Human increase delivered sales million, favorable earnings $XX due $XX and increase higher the XX.X%, for to Nutrition a aforementioned an primarily an of operations quarterly mix. of

pleased of our very delivering the Nutrition were Human another with We overall growth. & performance of quarter strong Health segment,

healthy as and ingredients our businesses. as business demand solutions an nutrients picture see well demand in food We in continue our to improved

as Nutrition formulation Our perform well will portfolio & we we technologies believe Human continue capabilities and to our of into we segment ingredients XXXX. and head positioned, and well are nutrients, see Health

of Animal in sales the an delivered adjusted market lower a Nutrition in partially for quarterly expenses. sales was $XX following by of to Health generated to in period X.X%. growth were increase segment species quarter compared sales earnings pleased were $X operations year. offset Nutrition offset the earnings operations an fourth increase higher of Health Health of of ruminant & with ruminant segment due & Fourth from returned to increase driven conditions. million, quarter partially Animal million, increase an challenging a see prior markets. Nutrition Animal X.X% The species $X by our million, to in higher markets, sales monogastric Our favorable primarily sales, operating We by the of X.X% segment from higher this the mix

XXXX AminoShure-XL good the of to point market we've primarily solid by Animal XXXX the commercial improvement product, was ReaShure, the in exiting sequential of half XXXX. positioned XXXX. This the brand, of the well and is Health and business has customers. healthier to conditions rumen-protected dairy by our our of received continuing deliver improvement choline due low encouraging flagship our the first second strength is supported which We & in and Nutrition Animal our business, launch seen well Nutrition for believe We growth been momentum believe further has half

The XX.X% segment sales in versus higher operations compared X% Gases an of were year. $XX was increase $XX prior Products sales Earnings the million, Specialty Fourth of and million, offset by year earnings mix, to to XX.X%. the an operations from favorable delivered higher million, driven increase due by operating the sales from segment partially adjusted prior increase of an higher for Our Performance of $XX the primarily expenses. aforementioned increase were quarter business. this

from performance both are perspective. and We is pleased the in specialty very a growth a Products believe in quarter the to sales of our year-over-year products growth with deliver in great fourth Specialty position again We XXXX. margin

was very fourth Balchem. So quarter quarter another overall, for strong the

now going remarks. for over to closing to I'm call the turn back some Ted

Theodore Harris

Thanks, Martin.

market are the XXXX. results results Balchem quarter products. as and consecutive in continue XXXX an financial QX this adjusted positions the deliver given of to year-over-year our value-added conditions, year we XXnd We strong pleased which portfolio Balchem's quarter our EBITDA morning delivered the of of reported to growth fourth with a very was in market variety show earlier and full for ability

impact have ever-changing environment that and We the macroeconomic supply to continue global significant could chains. on geopolitical the particularly closely, tariffs watch to complex relative

important early this While about line through both growth for felt growth initiatives. effectively bottom growth year and specific a we are I'm as a is advancing exists, new trade well in to impacts further relatively we to top it deliver still is well significant whole. too outlook environment global basis on tell be to while and will remain I company excited XXXX, what Balchem our confident positioned full uncertainty believe as long-term the and positioned believe manage the

questions. I call the Martin? for call will back will who now to over Martin, open hand up the

Carl Bengtsson

for Thank conference up the This portion concludes the open call conference. you, this point, will formal of now we the Ted. questions. At

Operator

first Securities. Our from Labick question Instructions] [Operator CJS comes with Bob

Bob Labick

Yes. results. strong continued on Congratulations

kind I key of So ingredients, was Human with each the the versus Nutrition subsegments? and could and you very each touched little & there. into bit. little strong from obviously Health, those I Maybe dive want for drivers to -- off you outlook a this food a the growth start of consistent contribution hoping deeper nutrients on for

Theodore Harris

really what in business. performance we we Human most the the in And year and Sure. pleased that food healthy with Health Yes, growth food strong solutions XXXX growth on of in in business. growth about, modest really to about, And Nutrition relied really & slowing And the the QX. very XXXX really business. in continued we still as nutrients really solutions Bob. We were our extremely as return very ingredient somewhat healthy progressed and growth particularly that saw nutrients QX, in in a feel but growth business, good talked

in little delivered QX. little business, growth. over X% And was the food a we it in growth nutrients in So business X% a over revenue actually the

the So whole to X% that little business. under came together deliver for a

demand towards performed lines a And standout performed all food is the within perform which continue within QX. indicated. really It's year particularly within business, and across in within earlier quarter, all of encapsulated product some well think very really food would extremely the those, but then of we perform And the both business year, our food as year, We We the nutrients about started we saw then return business had products end our the to in the to in businesses. growth. of normalizing feel it standouts particularly But say our the good well. each KX well QX saw to the in a healthy business the QX, in really but of Encapsulates as those I business, just business, really growth they has exciting. I

really Health performance full good the So the all feel QX in all, Nutrition about we in Human & and year.

Bob Labick

and update level monogastric gets on in there a monogastric would obviously, Are be the Is tough And still returns? after A&H in at resolved great, ruminant? Okay. European kind growth a Great. is like then the rate normalized a -- start. European recovery, run any said, QX too. nice you as of more until particularly in we And situation

Theodore Harris

take I'll maybe chime So in. an stab, can Martin and early

the before the being Nutrition few that in You're QX Obviously, we've the indicated far up Animal year-over-year with the year, was, struggled had we to to recovery, modest the and word. & on call right as concerned the and would X until achieve quarter it an But not strung the improvement, right. We year-over-year XXXX, consecutive really really Health first pleased we're were we think growth. growth, together I quarters but would. happen And improving is with last in as was that, as able thought think, of milestone. it important then of good sequential I we modest quarters it happened a XX% was see QX

quarters there will do the see the now. margins And see is a no, space. while quite subsequent is this but a level. is there. say going would couple think we for ruminant in a of on the generally monogastric here until I years just the new that the resolved, do We I dairy kind ago. from situation are base ongoing growth ruminant right things don't healthy business, European market improved farmers probably One is business flattish speaking, the ago And vastly in year and dairy growth of more couple are of stay

of one, healthy. being future macroeconomic GLP-X could So that the and the intake everything to be they're for so they're out reduced is But we obviously and there's that impact factor is and drugs somewhat, that back cheese of dairy returns healthy at relatively making the even tariffs see there. forth, factors going play foreseeable another while of market course, kind

our good that growing, business. be our helps business. so And that's That will for

and the the partly, on space feel And healthier momentum the really on shoulders have. will. bringing things think nutritionist, in a have product did be there those behind rely technologies. I And and but as we with ruminant then, we that the good well. of products that right doing thing penetrate for we for new or marketplace, aided in ability launch is a partly other on space we in market us the good had we've And is dairy market only the our the the the about received. well really there's that bringing market you technologies, is to being we and over that's by second right we half our But our quarter. And -- if of think a last very that a products course, to And year, that converting right successfully science the little the momentum environment,

And that so with upside there's product. clearly

those on things business say, So X for ruminant year monogastric when us growing add see nicely you flattish of, overall together, quite the we let's do performance. kind of top next

So think Health growth sequential can year. that segment certainly in to the & next growth ruminant we continue we in and Nutrition Animal do some year-over-year see

Operator

comes our Ram with from H.C. And next question Selvaraju Wainright.

Raghuram Selvaraju

Congrats XXXX. on a to strong finish

a Ted. you, for Just couple of quick ones

marketing wondering of any have Mexico could or was on push to wondering course to with granularity exposure that closing tariffs. of watchful of degree really secondly, nature you and I I to to kind in remarks employ Firstly, of potential the had and China? just respect particular, impact the the kind comment us year if tariffs in if And of and product? VitaCholine could that coming specifically the strategies to of you kind provide applied Balchem this regional the may in with you potential continue over was your either alluded you expect promotional specific be to Pro-Flo you

meaningfully rate but In might regarding to forward exposure And I comment quickly you if any the ask going this for change impact have bird know do your tax the foreign business, don't think expect you is of indeed you made tax just it tax Animal wanted And to the don't Martin, crisis? to whether the confirm. And I outlook. Health then that you is, impact. very wanted impact that about effective flu I foreign the case. I lastly, any just

Theodore Harris

developments of with to this to you and Okay. all off Ram. not corporate We'll new second. the let's those, things monitoring and closely of where in we're order about necessarily in And a that goes. And the obviously, comments. for try the thanks rooms, the administration said. all trying kind understand kick your remember talk tariffs I'll board the opening along for everyone go But of

add comments, the that well As I of relative tariffs about. there prepared can we're neutral we said all in in net could as those any We competition on up happen do relative come for China. sort from feel based positives flows, our to it situation And could as favorable be we course, a relatively to tariffs of believe our we lot positioned overall, And slightly to really and markets a of are negatives. of that though us. see

additional so competitively And positive. could there tariffs be

asked source from them. of also kind for you think countries, you specific what into some do it a from we about just and much and these But then various much And have how do is sell coming -- how numbers. to we

couple say, just total -- you China give a let's product China, out purchasing from little you of $XXX of $XX million. of, to mentioned call, So raw less a million material buy than Mexico. We a of

fraction small relatively amount. amount. Mexico, So it's that it's of a From a

through tariffs So that finding recipients alternative we either like manage that may could it's sizes of manageable those pricing or do of feel be sources. sourcing are -- we regions

so tariffs around about less that the $X On selling that could into amount. regions. on to those relatively Mexico than small sell retaliatory go We that is really, million we're here, is little we're about products thinking quantities. sales very China, same what in that, and side,

is Canada significant. us. really a market not bigger for So

in that our magnitude And X% company. we of of so sales of there maybe concern is have That's order overall a there. would as the some

super up So significant, but not starting get there. to you're

very informs what through So in U.S., manage together, a what a nonetheless, come U.S. you speaking, together, the thinking we're to position it generally out And in the the we Europe, need Europe. products make feel But situation again, what kind comment watching of speaking, in we we're we wrap it that's all out make that in ways we we generally sell of like relatively when we in that. our and Canada tariff and of watch from products U.S. when but that to sell you closely. from perspective, add something good that all

Pro-Flo. to excited We're question back about Going your product. this first about VitaCholine

prenatal we've to infant be really As that's the this really in comes then more from and is history multivitamins, product more a vitamins. said, of included formulated VitaCholine formula and

about And was around This story the look of that's VitaCholine feel adult And NFL an to nutrient children. that this one decided important to nutrient is broader really for tell really part for an investment or sponsor be important. is reason not the And health to we we just benefits it. team is able so on getting important and an that adults. really infants back good discussion

about being think health I essential an liver to VitaCholine cognition the in and And can target more VitaCholine will relative multi-vitamins, adult have we included important market that and be is talked Pro-Flo. adult and more the so be it which for the for nutrient forth, for everyone nutrient

going we're continuing program. be to going continue probably that another not actually to more we're do to But NFL program X-year going was team. a marketing, So to sponsor

you're health increasingly be extent of inclusion We on great multivitamins, really not social that. promoting which good to media in continue benefits believe So us to today. broader a feel going But we to do about it included the to see VitaCholine, we're more other is should lead to forums going that. and where

So foreign and so hopefully, flu. he's then bird a the then questions, and answers that got question your Martin, tax

Carl Bengtsson

That's Yes. right.

the tax a one-off quarter. fourth So in the foreign question was

expect should that tax be you not or new rate forward move normal. higher a continue as to So we

had it, the points tax rate. full percentage impact impact quarter one-off more, X fourth a to that So that was really call

it in a of the it value the seeing chain. as relates that certainly to it industry disruptive big places, As a being to and that's creates various dynamics. through bird that's We're different ripples the flu, couple topic in

relatively able are they side, poultry to quickly. replenish the birds On

impact of see the right? pricing, the that. customers this. replenish value gets into see into we birds, certain we and little supply an little and retail as starts demands the do they with to chain still But impacted -- as elevated. of sort as it's get perspective, disrupted, sell stops a We by disrupted, market as gets they price sort still, a remains that also from So the So

to so disruptions a buy, on, there's supply see to you egg the and for have but and also as may the you an in, lot impact grocery on whole always in You that of not stores has seen shelves you walk eggs to prices.

side for So meaning they're is good the of they're on for them making now the they flip production coin right The input that margin selling the prices. not pretty is that that elevated producers high. the feed have, cost at

apart making of are them. customers sort impact are of the customers selling despite the helps in terms product of when or obviously, our of that healthy, our bird So And flu. sort good also money, from into

it's little out So sort bit. of a netting

a impact significant it's So you of or really direction major having that see our terms having in change not an impact, but where step in demand. it's either

So I I would expect here really demand be that's more as too than spreads how significantly much today. is think impacted today. would our we it. sit it Unless widely or to something not intensifies about

Operator

comes Daniel Harriman & Instructions] with from Our [Operator Sidoti Company. question next

Daniel Harriman

been Just and were fourth me today. the ones Obviously, year. fantastic have a really couple for of all quarter quick in so margins

the in a specifically, pressure grow bit you're it your to margin assume is just margins wondering may for fair to So have food stronger you in and of I'm year that as expectations ingredients maybe know go as are little growth minerals getting through H&H, and within versus nutrients? more and curious A&H to continues what we XXXX

seeing was on just if then be M&A in coming just may I deal update the that you us what terms all could are desk? you market And wondering your of flow Martin, finally, in across

Theodore Harris

you welcome of Daniel, with team. take but like So I forward would both the I'll just Martin going forward. to look you Martin? to to I But, those, let working

Carl Bengtsson

The Daniel. maybe you, margins the starting with Thank question. --

through we've through we us has we happy us to more a squeeze where We and that that as foreshadowing and of improved period, said, gone a the really to exited a here the you bit very bring normalized few they've to more and came been expected for in to margin have of been we as XXXX inflation. those with which we the deflationary years went inflationary the period margins for be As due year, period. able into healthy saw to as were strong that were we back a see sort

So excited and that we levels period. what said and we're really margins pre-vac that were to actually higher able happy the actually restore than sort of them even were bring they we and to do

the that Going margins. forward, dynamics, as we think obviously, about our impacts

We have the portfolio mix.

has there. We our perspective it have almost again. And plateaued last, inflationary an call XX evolving the depends months, say, input the our into see turning cetera. From pricing, a and bit period I materials, sort over is our you it, of et input costs, deflationary period world materials, raw seen would little primarily a the raw how XX, cost we've that slightly on

I going I how So potential think we'll continued think, past flat on tariffs from now so more that inflationary and see in and forward. that impact to slightly is tailwind deflation, of sort us. then And trade period, we're

our back mix again, particularly time to the business over saw business portfolio is period of expect coming ingredients solutions rates a food growing the viewed From nutrients than faster strong margin I nicely benefits ingredients which food and some solutions here. is perspective, a business margin obviously ingredients grow the and while the H&H we still food of business. than a and higher strong business, And to and nutrients

going dilutive So rather I think they're that perspective, H&H be an but remain at. for forward, from similar not necessarily to them portfolio mix should where

Health, margin & the A&H Nutrition Animal perspective, From than an our business. business higher monogastric ruminant is

here do to we earlier, grow ruminant monogastric business. mentioned a we faster the than expect business As

Products be will Specialty tailwind should very solid an perspective. segment sort there from very, from some our mix a margin and of remain So there A&H

So portfolio mix I our see a continued think will what just on today. support based we strong margin

of I rapidly little supply have a whether was supply global effectively that potential we we the bit And dilutive. we to and price a very years a customers. from and time that, we'll tariffs couple turn through. will sort of and But But to impacts it's through card we ago is rate really what to going perspective, with input into get saw did we're think what as even dilutive our costs margin protected last margins that successful not the dollars. or demand, though chain do our and around to were pricing and that to wild it in increasing

going So think to sort that's healthy primarily forward. our forward. here margin I relatively going of maybe I where otherwise, But I to would say margins biggest the expect profile risk be

side, actively makes engage opportunities, Yes. sense we're an us M&A flow where lot pursue. to lot desks, perspective, I and and And that to to from and coming on been yet are spending where not assets of market a would a of the we definitely us increased hot flow it sort of do I we is time sort there M&A. would call sense makes that. for continue evaluate for a it quality across to it's on our a have say deal of continue the

yet. M&A to phase sort early still certainly be what would So bit we're going a are people conducive of there market of forward, the call a but not more I expecting it little

But is if thinking market you're it if in quite stability there's pent-up that you time. some to of before assets want have been not time have some think hot activity performance And a business your And think There about there's market. selling, demand. a sort about for logically, up, to come to it's bring yet someone we're and lot stable you to a point it lot to some you not to obviously, more where of reach that been pick it sort do a improving. I now there market they've we're on, but show expect with quite results. I starting able going but it's where where of are of

Daniel Harriman

I That's congrats quarter really great helpful. welcome warm year. and wonderful and on a the And Ted, appreciate

Operator

over Ted at this I'll questions time. further Harris. no are There floor the hand to

Theodore Harris

to reporting we out tail of time and our Thank you. April. today. joining QX for again, you and forward Once We the in Great. today, much really Thanks so all our results appreciate support XXXX end thank very call your your much. look

BNP and March In we in Consumer on in London be will the the meantime, Paribas Conference Ingredients Chemicals Exane participating XX.

to some thank to of for there. some know again have already of care. time Take And hope forward that. we today. and you looking so you signed you I your see up, And So

Operator

may This concludes today's day. parties All you. conference. Thank good a disconnect. Have

Balchem (BCPC) 21 Feb 252024 Q4 Earnings call transcript