Balchem Sets Consolidated Records, Grows All Segments

The Tip Desk · October 24, 2026 · 3 min read

Net sales reached $290.7 million in the third quarter, with Animal Nutrition and Health operating earnings up 82.8% from a year earlier.

Balchem Corporation (BCPC), the specialty nutrition and performance-gases company, reported record consolidated net sales, net earnings and adjusted EBITDA for the third quarter ended September 30, 2026, with growth in all three reportable segments.

Net sales were $290.7 million, up 8.6% from the year-earlier quarter. GAAP net earnings were $46.7 million, or $1.46 a share, compared with $1.24 a share a year earlier. Adjusted earnings were $1.57 a share. Adjusted EBITDA was $80.3 million.

Chairman, President and CEO Ted Harris said the company delivered healthy growth across all three reporting segments.

Human Nutrition and Health generated record quarterly sales of $188.2 million, up 8.1% from the prior year quarter, on higher sales in both the nutrients business and food ingredients and solutions. Earnings from operations were a record $45.6 million, up 11.8%. Adjusted earnings from operations were $48.9 million. The company said the operating increase was primarily due to higher sales and favorable mix, partially offset by higher operating expenses.

Animal Nutrition and Health sales were $63.0 million, up 11.7%, on higher sales in both monogastric and ruminant species markets. Earnings from operations were $6.8 million, up 82.8% from $3.7 million a year earlier, primarily due to higher sales and favorable mix, partially offset by certain higher manufacturing input costs. Adjusted earnings from operations were $7.0 million.

Specialty Products sales were $37.3 million, up 4.5%, due to higher sales in the performance gases business. Earnings from operations were $12.3 million. Adjusted earnings from operations were $13.1 million.

Consolidated gross margin was $105.7 million, or 36.4% of sales, up 70 basis points from 35.7% a year earlier. The company attributed the margin-rate increase primarily to sales growth, favorable mix and manufacturing efficiencies, partially offset by certain higher manufacturing input costs. Operating expenses were $43.3 million, up $2.4 million from the prior year quarter, primarily due to higher compensation-related costs. Net interest expense was $1.9 million. The effective tax rate was 22.2%.

Cash flows from operations were $69.8 million and free cash flow was $57.9 million. Significant cash payments included net debt payments of $28.0 million, income taxes of $27.8 million, share repurchases of $27.4 million, and capital expenditures and intangible assets acquired of $12.5 million.

The company repurchased about $28 million of common stock in the third quarter and about $127 million over the trailing twelve months. Outstanding debt on the revolving loan was $124.0 million as of September 30, 2026, down from $164.0 million at December 31, 2025. Net debt was $57.7 million, with net-debt leverage of 0.2 times. Cash and cash equivalents were $66.3 million.

Harris said that with strong results through the first nine months of the year and a healthy balance sheet, Balchem is well positioned to continue executing its strategic growth initiatives.