The activist stake (SC 13D/A filed Aug 2026) adds pressure for operational improvements. Watch for Q4 guidance on the conference call and any further activist engagement. The company's ability to sustain volume growth and margin recovery amid raw material inflation is key.
Price Chart
Executive Summary
Quaker Houghton reported Q3 2026 net sales of $544.5M (+10% YoY) and non-GAAP EPS of $2.39, beating the consensus estimate of $2.10. Adjusted EBITDA rose 8% to $89.8M, a record level. The company faces headwinds from elevated raw material costs and soft demand in China, but management expects year-over-year revenue and EBITDA improvement in Q4.
Key Financial Metrics
Key Facts
- Q3 2026 net sales of $544.5M, up 10% YoY from $493.8M
- Non-GAAP EPS of $2.39, up 15% YoY from $2.08, beating consensus of $2.10
- Adjusted EBITDA of $89.8M, up 8% YoY from $82.9M, a record quarter
- Sales volumes increased 3% YoY driven by new business wins across all segments
- Americas segment net sales up 14% YoY; EMEA up 6%; AsiaPacific up 9%
- GAAP EPS of $1.73 vs $1.75 in prior year quarter
- Net debt of $727.6M, leverage ratio of 2.3x
- Repurchased 21,781 shares for $3.3M in Q3
- Activist investor Gulf Hungary Holding disclosed a 13D stake in August 2026
Financial Impact
Revenue beat consensus by $21.6M (4.1%); non-GAAP EPS beat by $0.29 (13.8%)
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Americas | $254.0M | +14.0% |
| EMEA | $152.5M | +6.0% |
| AsiaPacific | $138.1M | +9.0% |
Risk Factors
- Elevated raw material costs and Middle East conflict impacting margins
- Soft industrial demand in China and geopolitical uncertainty
- Operating cash flow declined to $47.6M YTD vs $89.9M in prior year due to working capital outflows
- GAAP EPS declined slightly YoY due to higher restructuring and transformation costs
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-068281 |
| Document: kwr2026q3ex-9929.htm | 0001628280-26-068281 |
| Document: kwr-20261029.htm | 0001628280-26-068281 |
| Document: 0001628280-26-068281-index-headers.html | 0001628280-26-068281 |
| Document: 0001628280-26-068281-index.html | 0001628280-26-068281 |
| Document: 0001628280-26-068281.txt | 0001628280-26-068281 |
| 8-K Data (Synthetic) | 0001628280-26-068281 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $158.01 | awaiting T+5 | awaiting T+5 | $150.95 (−4.47%) |
Oct 22, 2026 10d ago | 8-K | $155.91 $150.95 | ▼ −3.18% | ▼ −2.62% | $150.95 (−3.18%) |
Oct 15, 2026 17d ago | Press Release | $156.96 $155.91 | ▼ −0.67% | ▼ −0.24% | $150.95 (−3.83%) |
Oct 8, 2026 24d ago | Court Ruling | $155.95 $156.96 | ▲ +0.65% | ▲ +2.62% | $150.95 (−3.21%) |
Oct 1, 2026 4w ago | 8-K | $160.19 $155.43 | ▼ −2.97% | ▼ −4.13% | $150.95 (−5.77%) |
Jul 31, 2026 13w ago | S-3ASR | $160.52 $169.95 | ▲ +5.87% | ▲ +2.36% | $150.95 (−5.96%) |
Jul 31, 2026 13w ago | S-3ASR | $160.52 $169.95 | ▲ +5.87% | ▲ +2.36% | $150.95 (−5.96%) |
Jul 7, 2026 16w ago | 8-K | $147.52 $149.96 | ▲ +1.65% | ▲ +0.79% | $150.95 (+2.33%) |
Jun 18, 2026 19w ago | Institutional Cluster | $150.18 $156.59 | ▲ +4.27% | ▲ +5.93% | $150.95 (+0.51%) |
May 15, 2026 24w ago | 8-K | $137.99 $141.84 | ▲ +2.79% | ▲ +1.83% | $150.95 (+9.39%) |
US Market Status
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