Balchem Corporation (NASDAQ:BCPC) Q3 2023 Earnings Call Transcript

Ted Harris: We still remain active, at least internally from an M&A perspective. We feel like our leverage is conservative and at a healthy position. So, we can make additional acquisitions, but having said that, the market is relatively slow from an M&A perspective. The activity has not gotten back to a more normalized. We keep using that word, but even the M&A market, I would say, is not normal today and hasn’t gotten back to a more normalized level. So there are fewer deals today than, we normally see, so that creates some barriers. And then, of course, with interest rates being high, that does change the math around valuations and so forth. So, we continue to have a healthy portfolio of opportunities, that we’ve identified that we continue to work, but it is a little bit of a slower environment. And I think that’s going to the likely impact, the timing of the next acquisition that makes sense from a strategic and value perspective for Balchem.

Kyle May: All right. Great. Appreciate the time this morning.

Ted Harris: Thanks so much, Kyle. Again welcome to the team.

Operator: Thank you. There are no further questions at this time. I would like to turn the floor back over to Ted Harris for closing remarks.

Ted Harris: Thank you, Alicia. I would just like to thank everybody for your time today. We really appreciate your support as well as the time you spent on the call today. We look forward to reporting our Q4, 2023 results, seems like a long time away, but late February of next year. In the meantime, we will be participating at the Baird Global Industrial Conference in Chicago on November 7. And we certainly hope to see some of you there. So with that, we’ll end the call, and thank you again for joining us today.

Operator: Thank you. This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.