Balchem Reports Encouraging 1Q Results for Core Operations as CM-AT Approval Decision Looms Ahead
Balchem drove margin expansion across three of its four reporting segments in the first quarter, lifting adjusted EBITDA by 14% year on year to $41 million. Although we've slightly increased our 2018 profit outlook, our $85 per share fair value estimate is unchanged. Our no-moat rating also remains intact. In 2018, we forecast $167 million of adjusted EBITDA and adjusted earnings of $2.97 per share on revenue of $666 million.We were particularly impressed by significant margin expansion for the...
Balchem is engaged in the development, manufacture and marketing of specialty performance ingredients and products for the food, nutritional, feed, pharmaceutical, medical sterilization and industrial markets. The company has four reportable segments: Human Nutrition & Health, which provides human grade choline nutrients and mineral amino acid chelated products for nutrition wellness applications; Animal Nutrition & Health, which provides nutritional products in addition to basic choline chloride; Specialty Products, which provides ethylene oxide and propylene oxide; and Industrial Products, which provides certain derivatives of choline chloride, as well as manufactures and sells methylamines.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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