Quaker Chemical Corp. (KWR) reported that its third-quarter net income attributable to company increased to $15.70 million from $12.55 million, last year. Earnings per share were $1.18 compared to $0.95 for the third quarter of 2013. Non-GAAP earnings per share was $1.19 for the third quarter of 2014.
On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $1.03 for the quarter. Analysts' estimates typically exclude special items.
Adjusted EBITDA increased 16% to $26.5 million for the third quarter of 2014 compared to $22.8 million for the third quarter of 2013.
Net sales increased to $198.9 million from $184.1 million, prior year , primarily due to higher product volumes. Included in the company's net sales growth for the third quarter of 2014 was 1.7% of additional sales from its acquisition of ECLI Products, LLC. Analysts expected revenue of $191.20 million for the quarter.
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