Quaker Chemical Posts Strong Q1 Performance; But Q2 Results Likely to Fall Sequentially, Janney Says
03:58 PM EDT, 05/11/2021 (MT Newswires) -- Quaker Chemical's (KWR) Q1 results were better than expected, thanks to increased volumes and positive impacts from acquisitions and foreign exchange, but Q2 earnings could fall sequentially on the back of mounting costs of raw materials, which the company expects to offset through price hikes, Janney said in a Tuesday note.
Revenue for the recent quarter was up 14% year over year to $430 million, ahead of consensus of $383 million. Adjusted EPS was $2.11, topping the estimate of analysts polled by Capital IQ indicating $1.46.
Analyst Michael Gaugler raised full-year 2021 adjusted EPS outlook for the chemicals company to $7.34 from a prior expectation of $6.98.
Janney maintained Quaker Chemical's neutral rating, along with a $255 fair value estimate.
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