Benzinga | Oct 29, 2021 02:56PM EDT

Balchem Clocks 13% Sales Growth In Q3, Tops Consensus

* Balchem Corp (NASDAQ:BCPC) reported third-quarter FY21 sales growth of 13% year-on-year, to $197.87 million, beating the analyst consensus of $196.13 million.

* Sales from Human Nutrition and Health segment rose 7.3% Y/Y to $111.2 million, Animal Nutrition and Health increased 21.2% to $56.2 million, and Specialty Products grew 20% to $27.6 million.

* The gross margin increased 8.1% Y/Y to $60.9 million, with the margin contracting 139 basis points 30.7%.

* The operating margin was 16.4%, and operating income for the quarter rose 12% to $32.5 million.

* Balchem held $90 million in cash and equivalents as of September 30, 2021. Cash flow from operations totaled $39.6 million with a free cash flow of $31.1 million.

* Adjusted EPS of $0.92 beat the analyst consensus of $0.90.

* Adjusted EBITDA was $48.3 million, an increase of 8.8% Y/Y.

* "We expect these macro-economic challenges, including global supply chain disruptions and input cost inflation, to continue to accelerate into the fourth quarter and next year, and mitigating these impacts will remain a key focus for the Balchem team," said Ted Harris, Chairman, CEO, and President of Balchem.

* Price Action: BCPC shares are trading lower by 0.39% at $152.58 on the last check Friday.