|Over a week ago|
Quaker Houghton raises quarterly dividend 2.6% to 39.5c per share » 14:0109/1609/16/20
The Board of Directors of…
The Board of Directors of Quaker Houghton declared a 39.5c per share quarterly dividend, a 2.6% increase over the prior dividend. The quarterly dividend is payable on October 30, 2020, to shareholders of record at the close of business on October 16, 2020.
|Over a month ago|
Quaker Houghton backs FY20 adjusted EBITDA view of more than $200M 16:2808/0508/05/20
Quaker Houghton reports Q2 adjusted EPS 21c, consensus 12c » 16:2708/0508/05/20
Reports Q2 revenue $286M,…
Reports Q2 revenue $286M, consensus $290.4M.
|Over a quarter ago|
Quaker Houghton files to sell 23,000 shares of common stock for holders 16:5905/1905/19/20
Quaker Houghton downgraded to Neutral from Buy at Janney Montgomery Scott » 06:2305/1305/13/20
Janney Montgomery Scott…
Janney Montgomery Scott analyst Michael Gaugler downgraded Quaker Houghton to Neutral from Buy with a fair value estimate of $155, down from $157. The company's Q1 results exceeded expectations but the forward outlook has deteriorated, Gaugler tells investors in a research note. The analyst sees uncertainty as to how long it will take for normalized end market conditions to return and believes the shares have exceeded fair value.
Quaker Houghton downgraded to Neutral from Buy at Janney Montgomery Scott » 06:1705/1305/13/20
Janney Montgomery Scott…
Janney Montgomery Scott analyst Michael Gaugler downgraded Quaker Houghton to Neutral from Buy with a price target of $155, down from $157.
Quaker Houghton sees FY20 adjusted EBITDA over $200M » 16:5905/1105/11/20
Mr. Barry continued,…
Mr. Barry continued, "Looking forward, we expect the second quarter to be the most challenging quarter of the year, as many customers have shutdown or significantly reduced their production, especially in the first half of the quarter. We do expect to see a gradual sequential improvement as we progress through the second half of the year. However, providing any guidance is very difficult given the current economic uncertainty caused by the COVID-19 pandemic, so we are not providing specific guidance at this time. In order to give some sense of direction for the remainder of the year, we expect our second quarter adjusted EBITDA to be down by nearly half of the first quarter adjusted EBITDA and we expect our full year adjusted EBITDA to be more than $200 million. Further, we do not expect to have any liquidity or bank covenant issues. Overall, our higher expected integration synergies, additional cost savings actions, improvement in gross margins, and the expected release of cash via working capital are expected to continue to help us during this challenging time. As we look forward to 2021 and 2022, we expect to achieve significant increases in our adjusted EBITDA as we complete our integration cost synergies, continue to take share in the marketplace, and benefit from a projected gradual rebound in demand in our end markets over this period."
Quaker Houghton reports Q1 adjusted EPS $1.38, consensus $1.10 » 16:5805/1105/11/20
Reports Q1 revenue…
Reports Q1 revenue $378.6M, consensus $362.76M. Michael F. Barry, Chairman, Chief Executive Officer and President, commented, "Since our last communication in early March, the COVID-19 pandemic has intensified around the globe. For Quaker Houghton, our top priority is to protect the health and safety of our employees and our customers, while ensuring business continuity to meet our customers' needs. All of our 34 plants are operating and we have been able to meet our customers' needs. For the first quarter, our overall results were somewhat better than our expectations despite the impacts we anticipated due to COVID-19 and Boeing's decision to temporarily stop production of the 737 Max aircraft, which we estimate negatively impacted our sales by 4% and 1%, respectively. Our first quarter benefited from estimated share gains of 2%, the prior quarter Norman Hay acquisition, $10 million of integration synergies and the additional cost savings measures put in place due to COVID-19, which collectively drove a 10% increase in our pro forma adjusted EBITDA year-over-year despite the current market challenges."
Fly Insider: Gamestop, SharpSpring among week's notable insider trades » 13:4104/2004/20/20
NBIX, GME, BSET, KWR, KROS, TGE, SHSP, WDAY, MRVL, PEN
Welcome to "Fly Insider,"…
Quaker Houghton Annual Meeting of Shareholders to be held as virtual event » 08:3403/3103/31/20
Quaker Houghton announced…
Quaker Houghton announced that, due to the growing health impact of the coronavirus (COVID-19) pandemic and the extensive federal and local restrictions on non-essential activities, the location and time of Quaker Houghton's Annual Meeting of Shareholders has been changed and will instead be held in a virtual meeting format only. As previously announced, the annual meeting will be held on Wednesday, May 13, but will now be held at 2:30 p.m. Eastern Time.