Filing Flows › Balchem (BCPC) › Q1 2025
Balchem (BCPC) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Balchem (BCPC) reported revenue of $251M for the first quarter 2025 (Q1 2025), +5% from a year earlier and +4% from the quarter before. Operating margin was 20.4%, net earnings $37.1M (14.8% of revenue).
Balchem, Q1 2025: revenue $251M (+4% year over year), operating margin 20.4%, net earnings $37.1M, operating cash flow $36.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $251M | +4% | +5% |
| Gross profit | $88.2M | +2% | +8% |
| Operating profit | $51.0M | +8% | +22% |
| Net earnings | $37.1M | +10% | +28% |
| Operating cash flow | $36.5M | -30% | +9% |
| Free cash flow | $31.0M | — | +16% |
What changed
Revenue was $250.5M in Q1 2025, up 5% year over year and up 4% from the previous quarter. Product Sales Revenue was the largest line at 100% of revenue. Product Sales Revenue added $10.9M year over year (up 5%), 101% of the total change. Royalty Revenue declined 14%.
Gross margin was 35.2%, up 1.2 points from a year earlier. Operating profit was $51.0M, a 20.4% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 86% reached operating profit, above the 17% margin then. Operating expenses fell 7% while revenue rose 5%. The fastest-growing cost line was Research & development (+14%). Net earnings were $37.1M, up 28% year over year. The effective tax rate was 22.7%.
Operating cash flow was $36.5M (up 9% year over year), 98% of net earnings. Non-cash charges added back $11.0M of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items used $15.4M. After capital expenditures and proceeds from the sale of assets ($5.4M), free cash flow as the company reports it was $31.0M.
Questions
What was Balchem's revenue in the first quarter 2025?
Balchem (BCPC) reported revenue of $251M for the first quarter 2025 (Q1 2025), +5% from a year earlier and +4% from the quarter before.
Was Balchem profitable in the first quarter 2025?
Operating profit was $51.0M (20.4% of revenue) and net earnings $37.1M.
Source: Balchem 10-Q on SEC EDGAR.