Quaker Chemical Corporation (NYSE:KWR) Q1 2023 Earnings Call Transcript

As we’ve talked about before, our priorities with capital application perspective is dividend payouts and then debt repayment and then investing in the business, both organically, and inorganically. And our target remains to get below 2.5x. And so, given the strong cashflow conversion, I would anticipate hitting that by the end of the year.

Jon Tanwanteng: Got it. Just one last quick one. What are the expected costs of the $20 million cost savings that you’re expecting o over the next two years or so?

Shane Hostetter: So, I mentioned it was about 1x to 1.5x worth of savings.

Jon Tanwanteng: Got it. Thank you so much.

Operator: Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I’ll turn the floor back to Mr. Tometich for any final comments.

Andy Tometich: Thank you. We’re excited about the future and unlocking our growth potential at Quaker Houghton. We appreciate your continued interest in Quaker Houghton, and please reach out to Jeff with any follow-up questions. Thank you.

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