10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    For the quarterly period ended June 30, 2026

    OR

☐    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

    For the transition period from ____ to ____

Commission file number: 1-13648

_______________________________________________________________________________________________________________

Balchem Corporation

(Exact name of Registrant as specified in its charter)

Maryland	13-2578432
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)

5 Paragon Drive, Montvale, NJ 07645

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (845) 326-5600

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock, par value $.06-2/3 per share	BCPC	The Nasdaq Stock Market LLC

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑  No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

(Check one):	Large accelerated filer	☑	Accelerated filer	☐
	Non-accelerated filer	☐	Smaller reporting company	☐	Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of July 23, 2026, the registrant had 31,878,021 shares of its Common Stock, $.06 2/3 par value, outstanding.

BALCHEM CORPORATION

QUARTERLY REPORT ON FORM 10-Q

TABLE OF CONTENTS

		Page No.
PART I	FINANCIAL INFORMATION
Item 1.	Financial Statements (unaudited)
	Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025	3
	Condensed Consolidated Statements of Earnings for the Three and Six Months Ended June 30, 2026 and 2025	4
	Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2026 and 2025	5
	Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30, 2026 and 2025	6
	Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 2025	7
	Notes to Condensed Consolidated Financial Statements	8
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	24
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	33
Item 4.	Controls and Procedures	33
PART II	OTHER INFORMATION
Item 1.	Legal Proceedings	33
Item 1A.	Risk Factors	34
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	34
Item 5.	Other Information	35
Item 6.	Exhibits	36
SIGNATURE PAGE		37

Part I.    Financial Information

Item 1.    Financial Statements

BALCHEM CORPORATION

Condensed Consolidated Balance Sheets

(Dollars in thousands, except share and per share data)

Assets	June 30, 2026		December 31, 2025
Current assets:	(unaudited)
Cash and cash equivalents	$	63,174	$	74,570
Accounts receivable, net of allowance for credit losses of $1,128 and $862 at June 30, 2026 and December 31, 2025, respectively	148,973		143,596
Inventories, net	161,551		131,449
Prepaid expenses	8,527		9,778
Prepaid income taxes	868		—
Other current assets	5,331		6,221
Total current assets	388,424		365,614
Property, plant and equipment, net	304,702		306,648
Goodwill	808,809		816,375
Customer relationships and lists, net	123,728		132,994
Other intangible assets with finite lives, net	27,915		30,295
Right of use assets - operating leases	12,703		14,672
Right of use assets - finance lease	1,417		1,520
Other non-current assets	19,306		18,134
Total assets	$	1,687,004	$	1,686,252
Liabilities and Stockholders' Equity
Current liabilities:
Trade accounts payable	$	70,451	$	60,425
Accrued expenses	51,791		49,288
Accrued compensation and other benefits	19,965		27,896
Dividends payable	166		31,044
Income taxes payable	—		3,912
Operating lease liabilities - current	3,172		3,614
Finance lease liabilities - current	210		205
Total current liabilities	145,755		176,384
Revolving loan	152,000		164,000
Deferred income taxes	52,943		54,143
Operating lease liabilities - non-current	9,895		11,324
Finance lease liabilities - non-current	1,438		1,544
Other long-term obligations	22,595		21,444
Total liabilities	384,626		428,839
Commitments and contingencies (Note 15)
Stockholders' equity:
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	—		—
Common stock, $0.0667 par value. Authorized 120,000,000 shares; 31,955,534 and 32,058,121 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	2,132		2,139
Additional paid-in capital	66,741		92,331
Retained earnings	1,206,296		1,121,396
Accumulated other comprehensive income	27,209		41,547
Total stockholders' equity	1,302,378		1,257,413
Total liabilities and stockholders' equity	$	1,687,004	$	1,686,252

See accompanying notes to condensed consolidated financial statements.

3

BALCHEM CORPORATION

Condensed Consolidated Statements of Earnings

(Dollars in thousands, except per share data)

(unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net sales	$	283,997	$	255,467	$	554,706	$	505,986
Cost of sales	180,314		162,354		349,939		324,705
Gross margin	103,683		93,113		204,767		181,281
Operating expenses:
Selling expenses	21,137		19,300		42,233		36,226
Research and development expenses	4,534		4,300		10,415		8,962
General and administrative expenses	18,791		18,071		37,272		33,636
	44,462		41,671		89,920		78,824
Earnings from operations	59,221		51,442		114,847		102,457
Other expenses, net:
Interest expense, net	1,938		2,766		4,151		5,690
Other (income) expense, net	(498)		(335)		393		(184)
	1,440		2,431		4,544		5,506
Earnings before income tax expense	57,781		49,011		110,303		96,951
Income tax expense	13,166		10,733		25,403		21,620
Net earnings	$	44,615	$	38,278	$	84,900	$	75,331
Net earnings per common share - basic	$	1.40	$	1.18	$	2.66	$	2.33
Net earnings per common share - diluted	$	1.39	$	1.17	$	2.63	$	2.30

See accompanying notes to condensed consolidated financial statements.

4

BALCHEM CORPORATION

Condensed Consolidated Statements of Comprehensive Income

(Dollars in thousands)

(unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net earnings	$	44,615	$	38,278	$	84,900	$	75,331
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	(4,534)		43,776		(14,636)		65,498
Change in postretirement benefit plans	(6)		(1)		298		(239)
Other comprehensive (loss) income	(4,540)		43,775		(14,338)		65,259
Comprehensive income	$	40,075	$	82,053	$	70,562	$	140,590

See accompanying notes to condensed consolidated financial statements.

5

BALCHEM CORPORATION

Condensed Consolidated Statements of Changes in Stockholders’ Equity

For the Three and Six Months Ended June 30, 2026 and 2025

(Dollars in thousands, except share and per share data)

(Unaudited)

	Total Stockholders' Equity		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Common Stock			Additional Paid-in Capital
							Shares	Amount
Balance - December 31, 2025	$	1,257,413	$	1,121,396	$	41,547	32,058,121	$	2,139	$	92,331
Net earnings	40,285		40,285		—		—	—		—
Other comprehensive loss	(9,798)		—		(9,798)		—	—		—
Repurchases of common stock	(14,923)		—		—		(89,880)	(6)		(14,917)
Shares and options issued under stock plans	12,139		—		—		160,285	10		12,129
Balance - March 31, 2026	1,285,116		1,161,681		31,749		32,128,526	2,143		89,543
Net earnings	44,615		44,615		—		—	—		—
Other comprehensive loss	(4,540)		—		(4,540)		—	—		—
Repurchases of common stock, including    excise tax	(29,800)		—		—		(183,249)	(12)		(29,788)
Shares and options issued under stock plans	6,987		—		—		10,257	1		6,986
Balance - June 30, 2026	$	1,302,378	$	1,206,296	$	27,209	31,955,534	$	2,132	$	66,741
Balance - December 31, 2024	$	1,149,913	$	997,493	$	(23,747)	32,527,244	$	2,170	$	173,997
Net earnings	37,053		37,053		—		—	—		—
Other comprehensive income	21,484		—		21,484		—	—		—
Repurchases of common stock	(5,325)		—		—		(32,869)	(2)		(5,323)
Shares and options issued under stock plans	5,576		—		—		117,169	7		5,569
Balance - March 31, 2025	1,208,701		1,034,546		(2,263)		32,611,544	2,175		174,243
Net earnings	38,278		38,278		—		—	—		—
Other comprehensive income	43,775		—		43,775		—	—		—
Repurchases of common stock, including    excise tax	(33,348)		—		—		(204,965)	(13)		(33,335)
Shares and options issued under stock plans	10,507		—		—		48,975	3		10,504
Balance - June 30, 2025	$	1,267,913	$	1,072,824	$	41,512	32,455,554	$	2,165	$	151,412

See accompanying notes to condensed consolidated financial statements.

6

BALCHEM CORPORATION

Condensed Consolidated Statements of Cash Flows

(Dollars in thousands)

(unaudited)

	Six Months Ended June 30,
	2026		2025
Cash flows from operating activities:
Net earnings	$	84,900	$	75,331
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	24,711		22,417
Stock compensation expense	11,277		9,648
Deferred income taxes	(354)		(124)
Provision for (recovery of) credit losses	274		(108)
Unrealized loss (gain) on foreign currency transactions and    deferred compensation	688		(843)
Loss (gain) on disposal of assets and asset impairment	492		(117)
Changes in assets and liabilities
Accounts receivable	(6,452)		(13,262)
Inventories	(31,434)		(13,074)
Prepaid expenses and other current assets	1,935		(618)
Accounts payable and accrued expenses	4,823		8,682
Income taxes	(4,832)		(4,410)
Other	744		187
Net cash provided by operating activities	86,772		83,709
Cash flows from investing activities:
Capital expenditures and intangible assets acquired	(17,138)		(12,372)
Cash paid for acquisitions, net of cash acquired	—		(323)
Proceeds from sale of assets	7		267
Investment in affiliates	(95)		(105)
Net cash used in investing activities	(17,226)		(12,533)
Cash flows from financing activities:
Proceeds from revolving loan	80,000		63,000
Principal payments on revolving loan	(92,000)		(63,000)
Principal payments on finance leases	(102)		(97)
Proceeds from stock options exercised	7,742		6,222
Dividends paid	(30,772)		(28,265)
Repurchases of common stock	(44,484)		(38,589)
Net cash used in financing activities	(79,616)		(60,729)
Effect of exchange rate changes on cash	(1,326)		5,465
(Decrease) increase in cash and cash equivalents	(11,396)		15,912
Cash and cash equivalents beginning of period	74,570		49,515
Cash and cash equivalents end of period	$	63,174	$	65,427

See accompanying notes to condensed consolidated financial statements.

7

BALCHEM CORPORATION

Notes to Condensed Consolidated Financial Statements (Unaudited)

(All dollar amounts in thousands, except share and per share data)

NOTE 1 – CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The condensed consolidated financial statements presented herein have been prepared in accordance with the accounting policies described in the December 31, 2025 consolidated financial statements, and should be read in conjunction with the consolidated financial statements and notes, which appear in the Annual Report on Form 10-K for the year ended December 31, 2025. The condensed consolidated financial statements reflect the operations of Balchem Corporation and its subsidiaries (the "Company" or "Balchem"). All intercompany balances and transactions have been eliminated in consolidation.

In the opinion of management, the unaudited condensed consolidated financial statements furnished in this Form 10-Q include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP” or “GAAP”) governing interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934 (the "Exchange Act") and therefore do not include some information and notes necessary to conform to annual reporting requirements. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the operating results expected for the full year or any interim period.

Certain reclassifications have been made to prior period amounts to conform with the current period's presentation.

Recent Accounting Pronouncements

Recently Issued Accounting Standards

In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2024-03, "Income Statement - Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)." The new guidance is intended to enhance transparency and disclosures by requiring public entities to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. While the adoption of ASU 2024-03 is not expected to have an effect on our consolidated financial statements, it is expected to result in incremental disclosures within the notes to our consolidated financial statements.

NOTE 2 - STOCKHOLDERS' EQUITY

Stock-Based Compensation

The Company’s results for the three and six months ended June 30, 2026 and 2025 reflected the following stock-based compensation cost, and such compensation cost had the following effects on net earnings:

	Increase/(Decrease) for the				Increase/(Decrease) for the
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of sales	$	647	$	536	$	1,178	$	974
Operating expenses	5,274		5,302		10,099		8,674
Net earnings	(4,580)		(4,577)		(8,700)		(7,506)

The Company's omnibus incentive plan ("the Plan") allows for the granting of stock awards and options to purchase common stock. Both incentive stock options and nonqualified stock options can be awarded under the plan. The Company has approved and reserved a number of shares to be issued upon exercise of the outstanding options that is adequate to cover all exercises. As of June 30, 2026, the Plan had 505,548 shares available for future awards.

8

Accounting Standards Codification ("ASC") 718, "Compensation-Stock Compensation", requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The weighted average fair values of the stock options granted under the Plan were calculated using either the Black-Scholes model or the Binomial model, whichever was deemed to be most appropriate. For the six months ended June 30, 2026, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions:

	Six Months Ended June 30,
	2026		2025
Dividend yields	0.5	%	0.6	%
Expected volatilities	23.5	%	26.0	%
Risk-free interest rates	3.8	%	4.5	%
Expected lives	5.2 years		5.2 years

Option activity for the six months ended June 30, 2026 and 2025 is summarized below:

For the Six Months Ended June 30, 2026	Shares (000s)	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2025	900	$	120.48	$	29,888	5.2
Granted	71	178.68
Exercised	(77)	100.34
Forfeited	(1)	143.43
Canceled	(2)	139.31
Outstanding as of June 30, 2026	891	$	126.79	$	38,255	5.3
Exercisable as of June 30, 2026	642	$	115.27	$	34,455	4.3

For the Six Months Ended June 30, 2025	Shares (000s)	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2024	962	$	114.81	$	46,346	5.8
Granted	51	159.18
Exercised	(68)	91.48
Forfeited	—	—
Canceled	—	—
Outstanding as of June 30, 2025	945	$	118.88	$	38,084	5.6
Exercisable as of June 30, 2025	638	$	106.87	$	33,375	4.4

Other information pertaining to option activity during the three and six months ended June 30, 2026 and 2025 is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Weighted-average fair value of options granted	$	—	$	—	$	48.90	$	48.86
Total intrinsic value of stock options exercised ($000s)	$	813	$	3,370	$	5,567	$	4,759

The Company has Restricted Stock Grant Agreements with the Company's non–employee directors and certain employees, which are subject to time-based vesting requirements. The value of the restricted shares is based on the fair value of the award at the date of grant.

9

Non-vested restricted stock activity for the six months ended June 30, 2026 and 2025 is summarized below:

	Six Months Ended June 30,
	2026			2025
	Shares (000s)	Weighted Average Grant Date Fair Value		Shares (000s)	Weighted Average Grant Date Fair Value
Non-vested balance as of December 31	147	$	150.15	122	$	141.62
Granted	62	177.50		54	159.14
Vested	(51)	144.89		(30)	137.83
Forfeited	(5)	154.65		(1)	145.96
Non-vested balance as of June 30	153	$	162.86	145	$	148.91

The Company also has performance share (“PS”) awards, which provide the recipients the right to receive a certain number of shares of the Common Stock in the future, subject to certain performance hurdles, depending on the date of the grant: (1) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years), (2) a relative total shareholder return (“TSR”) market condition where vesting is dependent upon the Company’s TSR performance over the performance period (typically three years) relative to a comparator group consisting of the Russell 2000 index constituents, or (3) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years) and modified based on the Company's TSR performance over the performance period relative to a comparator group consisting of the Russell 2000 index constituents. Expense is measured based on the fair value of the grant at the date of grant. A Monte-Carlo simulation has been used to estimate the fair value using the following assumptions:

	Six Months Ended June 30,
	2026		2025
Dividend yields	—	%	—	%
Expected volatilities	22.8	%	25.5	%
Risk-free interest rates	3.5	%	4.3	%
Initial TSR's	16.0	%	-8.8	%

Non-vested performance share activity for the six months ended June 30, 2026 and 2025 is summarized below:

	Six Months Ended June 30,
	2026			2025
	Shares (000s)	Weighted Average Grant Date Fair Value		Shares (000s)	Weighted Average Grant Date Fair Value
Non-vested balance as of December 31	81	$	160.14	79	$	150.73
Granted	50	173.60		50	147.96
Vested	(35)	148.64		(44)	130.29
Forfeited	—	—		(4)	152.69
Non-vested balance as of June 30	96	$	171.52	81	$	160.14

As of June 30, 2026 and 2025, there were $30,954 and $26,849, respectively, of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the plans. As of June 30, 2026, the unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 1.55 years. The Company estimates that share-based compensation expense for the year ended December 31, 2026 will be $21,291.

10

Repurchases of Common Stock

On December 9, 2025, the Company's Board of Directors approved a stock repurchase program (the "December 2025 program"), which replaced the previously approved June 1999 program. The December 2025 program authorizes the repurchases of up to and including 4,000,000 shares of the Company's ordinary shares. This stock repurchase program has no expiration date, does not oblige the Company to acquire any particular amount of the Company's ordinary shares, and may be terminated at any time. Since the inception of the December 2025 program, a total of 342,788 shares have been repurchased.

During the six months ended June 30, 2026 and 2025, the Company purchased 273,129 and 237,834 shares, respectively, from open market purchases and from employees in connection with the tax settlement of vested shares and/or exercised stock options, as applicable, under the Company's omnibus incentive plan. These shares were purchased at an average cost of $163.15 and $162.25 per share, respectively. The Company records the applicable excise taxes payable related to repurchases of our common stock as an incremental cost of the shares repurchased and a corresponding liability for the excise tax payable in "Other accrued liabilities" on our condensed consolidated balance sheet. The excise tax payable was $161 and $779 as of June 30, 2026 and December 31, 2025, respectively.

NOTE 3 – INVENTORIES

Inventories, net of reserves at June 30, 2026 and December 31, 2025 consisted of the following:

	June 30, 2026		December 31, 2025
Raw materials	$	52,217	$	41,858
Work in progress	7,018		6,527
Finished goods	102,316		83,064
Total inventories	$	161,551	$	131,449

On a regular basis, the Company evaluates its inventory balances for excess quantities and obsolescence by analyzing demand, inventory on hand, sales levels and other information. Based on these evaluations, inventory balances are reserved, if necessary. The reserve for inventory was $4,451 and $3,414 at June 30, 2026 and December 31, 2025, respectively.

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at June 30, 2026 and December 31, 2025 are summarized as follows:

	June 30, 2026		December 31, 2025
Land	$	12,247	$	12,428
Building	141,513		116,395
Equipment	360,187		340,322
Construction in progress	60,700		95,229
	574,647		564,374
Less: accumulated depreciation	269,945		257,726
Property, plant and equipment, net	$	304,702	$	306,648

NOTE 5 - INTANGIBLE ASSETS

The Company had goodwill in the amount of $808,809 and $816,375 as of June 30, 2026 and December 31, 2025, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.” The decrease in goodwill is due to foreign currency translation adjustments.

11

Identifiable intangible assets with finite lives at June 30, 2026 and December 31, 2025 are summarized as follows:

	Amortization Period (in years)	Gross Carrying Amount at June 30, 2026		Accumulated Amortization at June 30, 2026		Gross Carrying Amount at December 31, 2025		Accumulated Amortization at December 31, 2025
Customer relationships and lists	10-20	$	366,663	$	242,935	$	370,763	$	237,769
Trademarks and trade names	2-17	51,591		43,823		52,256		43,655
Developed technology	5-12	41,818		24,452		42,385		23,415
Other	2-18	25,532		22,751		25,178		22,454
Other intangible assets with finite lives		$	118,941	$	91,026	$	119,819	$	89,524

Amortization of identifiable intangible assets was $4,301 and $8,700 for the three and six months ended June 30, 2026, respectively, and $4,261 and $8,321 for the three and six months ended June 30, 2025, respectively. Assuming no change in the gross carrying value of identifiable intangible assets, estimated amortization expense is $8,603 for the remainder of 2026, $16,526 for 2027, $16,079 for 2028, $15,667 for 2029, $15,282 for 2030 and $15,164 for 2031. At June 30, 2026 and December 31, 2025, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in "Customer relationships and lists, net" and “Other intangible assets with finite lives, net” on the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the six months ended June 30, 2026 and 2025.

NOTE 6 - EQUITY METHOD INVESTMENT

In January 2014, BCP Ingredients, Inc. ("BCP"), a subsidiary of the Company, and Taminco US Inc. (note: Taminco was subsequently acquired by Eastman Chemical Company) formed a joint venture (66.66% / 33.34% ownership), St. Gabriel CC Company, LLC, to design, develop, and construct an expansion of BCP’s St. Gabriel aqueous choline chloride plant. BCP contributed the St. Gabriel plant, at cost, and all continued expansion and improvements are funded by the owners. The joint venture became operational as of July 1, 2016, at which point, Taminco US Inc. was succeeded by Taminco US LLC. St. Gabriel CC Company, LLC is a Variable Interest Entity (VIE) because the total equity at risk is not sufficient to permit the joint venture to finance its own activities without additional subordinated financial support. Additionally, voting rights (2 votes each) are not proportionate to the owners’ obligation to absorb expected losses or receive the expected residual returns of the joint venture. BCP receives the majority of the production offtake capacity, which may be adjusted from time to time to the extent the owners agree as such, and absorbs operating expenses approximately proportional to the actual percentage of offtake. The joint venture is accounted for under the equity method of accounting since BCP is not the primary beneficiary as BCP does not have the power to direct the activities of the joint venture that most significantly impact its economic performance. BCP recognized a loss of $126 and $250 for the three and six months ended June 30, 2026, respectively, and $123 and $245 for the three and six months ended June 30, 2025, respectively, relating to its portion of the joint venture's expenses in other expense. BCP made capital contributions to the investment totaling $53 and $95 for the three and six months ended June 30, 2026, respectively, and $75 and $105 for the three and six months ended June 30, 2025, respectively. The carrying value of the joint venture at June 30, 2026 and December 31, 2025 was $3,562 and $3,717, respectively, and is recorded in "Other non-current assets" on the condensed consolidated balance sheets.

NOTE 7 – REVOLVING LOAN

On July 27, 2022, the Company entered into an Amended and Restated Credit Agreement (the "2022 Credit Agreement") with certain lenders in the form of a senior secured revolving credit facility, due on July 27, 2027. The 2022 Credit Agreement allows for up to $550,000 of borrowing. The loans may be used for working capital, letters of credit, and other corporate purposes and may be drawn upon at the Company’s discretion. As of June 30, 2026 and December 31, 2025, the total balance outstanding on the 2022 Credit Agreement amounted to $152,000 and $164,000, respectively. There are no installment payments required on the revolving loans; they may be voluntarily prepaid in whole or in part without premium or penalty, and all outstanding amounts are due on the maturity date.

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Amounts outstanding under the 2022 Credit Agreement are subject to an interest rate equal to a fluctuating rate as defined by the 2022 Credit Agreement plus an applicable rate. The applicable rate is based upon the Company’s consolidated net leverage ratio, as defined in the 2022 Credit Agreement, and the interest rate was 4.75% at June 30, 2026. The Company is also required to pay a commitment fee on the unused portion of the revolving loan, which is based on the Company’s consolidated net leverage ratio as defined in the 2022 Credit Agreement and ranges from 0.150% to 0.225% (0.150% at June 30, 2026). The unused portion of the revolving loan amounted to $398,000 at June 30, 2026. The Company is also required to pay, as applicable, letter of credit fees, administrative agent fees, and other fees to the arrangers and lenders.

Costs associated with the issuance of the revolving loans are capitalized and amortized on a straight-line basis over the term of the 2022 Credit Agreement, which is not materially different than the effective interest method. Capitalized costs net of accumulated amortization were $311 and $455 at June 30, 2026 and December 31, 2025, respectively, and are included in "Other non-current assets" on the condensed consolidated balance sheets. Amortization expense pertaining to these costs totaled $73 and $144 for both the three and six months ended June 30, 2026 and 2025 and are included in "Interest expense, net" in the accompanying condensed consolidated statements of earnings.

The 2022 Credit Agreement contains quarterly covenants requiring the consolidated leverage ratio to be less than a certain maximum ratio and the consolidated interest coverage ratio to exceed a certain minimum ratio. At June 30, 2026, the Company was in compliance with these covenants. Indebtedness under the Company’s loan agreements is secured by assets of the Company.

On July 24, 2026, the Company entered into Amendment No. 1 to the 2022 Credit Agreement (the "Credit Agreement Amendment"). The Credit Agreement Amendment increased the aggregate revolving commitment amount from $550,000 to $650,000, extended the maturity date of the credit facility from July 27, 2027 to July 24, 2031, and made certain other amendments to the facility terms. The Company used initial proceeds from the Credit Agreement Amendment to repay the outstanding balance of $152,000 due in July 2027 under the 2022 Credit Agreement.

NOTE 8– NET EARNINGS PER SHARE

The following presents a reconciliation of the net earnings and shares used in calculating basic and diluted net earnings per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net Earnings - Basic and Diluted	$	44,615	$	38,278	$	84,900	$	75,331
Shares (000s)
Weighted Average Common Shares - Basic	31,902		32,354		31,919		32,397
Effect of Dilutive Securities – Stock Options, Restricted Stock, and Performance Shares	298		328		323		347
Weighted Average Common Shares - Diluted	32,200		32,682		32,242		32,744
Net Earnings Per Share - Basic	$	1.40	$	1.18	$	2.66	$	2.33
Net Earnings Per Share - Diluted	$	1.39	$	1.17	$	2.63	$	2.30

The number of anti-dilutive shares were 124,920 and 123,510 for the three and six months ended June 30, 2026, respectively, and 223,890 and 224,070 for the three and six months ended June 30, 2025, respectively. Anti-dilutive shares could potentially dilute basic earnings per share in future periods and therefore, were not included in diluted earnings per share.

NOTE 9 – INCOME TAXES

The Company’s effective tax rate for the three months ended June 30, 2026 and 2025, was 22.8% and 21.9%, respectively. The higher effective tax rate for the quarter was primarily due to lower tax benefits from stock-based compensation. The effective tax rate for the six months ended June 30, 2026 and 2025, was 23.0% and 22.3%, respectively. The higher effective tax rate for the six months ended June 30, 2026 was primarily due to an increase in certain state taxes and lower tax benefits from stock-based compensation.

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On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law in the United States which includes a broad range of tax provision. The Company has assessed that the OBBBA will not have a material impact on its estimated annual effective tax rate in 2026.

The Company files income tax returns in the U.S. and in various states and foreign countries. As of June 30, 2026, in the major jurisdictions where the Company operates, it is generally no longer subject to income tax examinations by tax authorities for years before 2021. The Company had $6,945 and $6,731 of unrecognized tax benefits, which are included in "Other long-term obligations" on the Company’s condensed consolidated balance sheets, as of June 30, 2026 and December 31, 2025, respectively. The Company includes interest expense or income as well as potential penalties on uncertain tax positions as a component of "Income tax expense" in the condensed consolidated statements of earnings. Total accrued interest and penalties related to uncertain tax positions at June 30, 2026 and December 31, 2025 were $2,564 and $2,350, respectively, and are included in "Other long-term obligations" on the Company’s condensed consolidated balance sheets.

The European Union ("EU") member states formally adopted the EU's Pillar Two Directive on December 15, 2022, which was established by the Organization for Economic Co-operation and Development. Pillar Two generally provides for a 15 percent minimum effective tax rate for the jurisdictions where multinational enterprises operate. While the Company does not anticipate that this will have a material impact on its tax provision or effective tax rate, the Company continues to monitor evolving tax legislation in the jurisdictions in which it operates.

NOTE 10 – SEGMENT INFORMATION

Balchem Corporation reports three reportable segments: Human Nutrition and Health ("HNH"), Animal Nutrition and Health ("ANH"), and Specialty Products ("SP"). Sales and production of products outside of our reportable segments and other minor business activities are included in "Other and Unallocated".

The Company's Chief Operating Decision Maker ("CODM") is the Chief Executive Officer. The CODM receives a profit and loss reporting package which provides segment information including revenue, cost of goods sold, gross margin, total operating expenses, and earnings from operations. The CODM utilizes this monthly profit and loss reporting package to analyze segment performance and appropriately allocate resources.

Pursuant to ASU 2023-07, "Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures", the significant segment information is summarized as follows:

	For the Three Months Ended June 30, 2026
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	176,894		$	64,454		$	40,511		$	2,138		$	283,997
Cost of sales	109,873		(1)	50,087		(1)	17,942		(1)	2,412		(1)	180,314
Gross margin	67,021			14,367			22,569			(274)			103,683
Operating expenses	24,640		(2)	9,140		(3)	9,676		(4)	1,006		(5)	44,462
Earnings from operations	42,381			5,227			12,893			(1,280)			59,221
Other expenses:
Interest expense, net													1,938
Other income, net													(498)
													1,440
Earnings before income tax expense													57,781
Income tax expense													13,166
Net earnings													$	44,615

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(1) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(2) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(3) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(4) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(5) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs.

	For the Six Months Ended June 30, 2026
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	348,522		$	126,643		$	75,238		$	4,303		$	554,706
Cost of sales	215,645		(6)	97,287		(6)	32,206		(6)	4,801		(6)	349,939
Gross margin	132,877			29,356			43,032			(498)			204,767
Operating expenses	50,476		(7)	18,437		(8)	18,204		(9)	2,803		(10)	89,920
Earnings from operations	82,401			10,919			24,828			(3,301)			114,847
Other expenses:
Interest expense, net													4,151
Other expense, net													393
													4,544
Earnings before income tax expense													110,303
Income tax expense													25,403
Net earnings													$	84,900

(6) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(7) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(8) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(9) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(10) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

15

	For the Three Months Ended June 30, 2025
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	160,773		$	56,028		$	37,185		$	1,481		$	255,467
Cost of sales	99,467		(11)	44,486		(11)	16,571		(11)	1,830		(11)	162,354
Gross margin	61,306			11,542			20,614			(349)			93,113
Operating expenses	22,964		(12)	8,028		(13)	9,345		(14)	1,334		(15)	41,671
Earnings from operations	38,342			3,514			11,269			(1,683)			51,442
Other expenses:
Interest expense, net													2,766
Other income, net													(335)
													2,431
Earnings before income tax expense													49,011
Income tax expense													10,733
Net earnings													$	38,278

(11) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(12) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(13) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(14) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(15) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

	For the Six Months Ended June 30, 2025
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	319,230		$	113,305		$	70,460		$	2,991		$	505,986
Cost of sales	198,850		(16)	89,403		(16)	32,557		(16)	3,895		(16)	324,705
Gross margin	120,380			23,902			37,903			(904)			181,281
Operating expenses	44,064		(17)	15,152		(18)	17,049		(19)	2,559		(20)	78,824
Earnings from operations	76,316			8,750			20,854			(3,463)			102,457
Other expenses:
Interest expense, net													5,690
Other income, net													(184)
													5,506
Earnings before income tax expense													96,951
Income tax expense													21,620
Net earnings													$	75,331

16

(16) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(17) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(18) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(19) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(20) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

Business Segment Assets	June 30, 2026		December 31, 2025
Human Nutrition and Health	$	1,249,206	$	1,243,522
Animal Nutrition and Health	184,755		176,608
Specialty Products	168,224		172,076
Other and Unallocated (21)	84,819		94,046
Total	$	1,687,004	$	1,686,252

(21) Other and Unallocated assets consist of certain cash, capitalized loan issuance costs, other assets, investments, and income taxes, which the Company does not allocate to its individual business segments. It also includes assets associated with a few minor businesses which individually do not meet the quantitative thresholds for separate presentation.

Depreciation/Amortization	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Human Nutrition and Health	$	8,471	$	7,544	$	17,118	$	14,847
Animal Nutrition and Health	1,841		1,829		3,700		3,590
Specialty Products	1,674		1,796		3,429		3,522
Other and Unallocated	234		234		464		458
Total	$	12,220	$	11,403	$	24,711	$	22,417

Capital Expenditures	Six Months Ended June 30,
	2026		2025
Human Nutrition and Health	$	7,939	$	6,026
Animal Nutrition and Health	7,168		4,424
Specialty Products	1,422		1,685
Other and Unallocated	174		107
Total	$	16,703	$	12,242

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NOTE 11 – REVENUE

The following table presents revenues disaggregated by revenue source:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Product Sales Revenue	$	283,363	$	255,041	$	553,579	$	505,102
Royalty Revenue	634		426		1,127		884
Total Revenue	$	283,997	$	255,467	$	554,706	$	505,986

The following table presents revenues disaggregated by geography, based on customers' delivery addresses:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
United States	$	205,193	$	186,706	$	402,575	$	372,428
Foreign Countries	78,804		68,761		152,131		133,558
Total Revenue	$	283,997	$	255,467	$	554,706	$	505,986

NOTE 12 – SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid during the six months ended June 30, 2026 and 2025 for income taxes and interest is as follows:

	Six Months Ended June 30,
	2026		2025
Income taxes	$	29,184	$	26,263
Interest	$	4,342	$	5,903

NOTE 13 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The changes in accumulated other comprehensive income (loss) were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net foreign currency translation adjustment (1)	$	(4,534)	$	43,776	$	(14,636)	$	65,498
Net change in postretirement benefit plan (see Note 14 for    further information)
Amortization of gain	(10)		(1)		(21)		(3)
Prior service loss (gain) arising during the period	—		—		411		(319)
Total before tax	(10)		(1)		390		(322)
Tax	4		—		(92)		83
Net of tax	(6)		(1)		298		(239)
Total other comprehensive (loss) income	$	(4,540)	$	43,775	$	(14,338)	$	65,259
(1) Includes losses of $95 and gains of $1,734 on intra-entity foreign currency transactions for the three and six months ended June 30, 2026, respectively, and gains of $2,184 and $5,301 for the three and six months ended June 30, 2025, respectively.

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Accumulated other comprehensive income (loss) at June 30, 2026 and December 31, 2025 consisted of the following:

	Foreign currency translation adjustment		Postretirement benefit plan		Total
Balance December 31, 2025	$	41,353	$	194	$	41,547
Other comprehensive (loss) income	(14,636)		298		(14,338)
Balance June 30, 2026	$	26,717	$	492	$	27,209

NOTE 14 – EMPLOYEE BENEFIT PLANS

Defined Contribution Plans

The Company sponsors one 401(k) savings plan for eligible employees, which allows participants to make pretax or after tax contributions, and the Company matches certain percentages of those contributions with shares of the Company’s Common Stock. The plan also has a discretionary profit sharing portion. All amounts contributed to the plan are deposited into a trust fund administered by independent trustees. The Company also sponsors various defined contribution plans for employees working in our foreign operations and matches certain employee contributions. These contributions are deposited into trust funds administered by independent trustees.

Postretirement Medical Plans

The Company provides postretirement benefits in the form of two unfunded postretirement medical plans; one that is under a collective bargaining agreement and covers eligible retired employees of the Verona facility and one for officers of the Company pursuant to the Balchem Corporation Officer Retiree Program.

Net periodic benefit costs for such retirement medical plans were as follows:

	Six Months Ended June 30,
	2026		2025
Service cost	$	46	$	58
Interest cost	26		35
Amortization of gain	(27)		(5)
Net periodic benefit cost	$	45	$	88

The amounts recorded for these obligations on the Company’s condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025 are $1,128 and $1,122, respectively, and are included in "Other long-term obligations" on the Company's condensed consolidated balance sheets. These plans are unfunded and approved claims are paid from Company funds. Historical cash payments made under such plans have typically been less than $200 per year.

Defined Benefit Pension Plan

The Company provides an unfunded defined benefit pension plan for employees working in Belgium. The plan provides for the payment of a lump sum at retirement or payments in case of death of the covered employees. The amounts recorded for these obligations on the Company's condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025 were $911 and $869, respectively, and were included in "Other long-term obligations" on the Company's condensed consolidated balance sheets.

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Net periodic benefit costs for such benefit pension plan were as follows:

	Six Months Ended June 30,
	2026		2025
Service cost with interest to end of year	$	112	$	107
Interest cost	52		40
Expected return on plan assets	(33)		(29)
Amortization of loss	6		2
Total net periodic benefit cost	$	137	$	120

Deferred Compensation Plan

The Company provides an unfunded, nonqualified deferred compensation plan maintained for the benefit of a select group of management or highly compensated employees. Assets of the plan are held in a rabbi trust, and are subject to additional risk of loss in the event of bankruptcy or insolvency of the Company. The Company may, at its discretion, provide matching contributions to eligible employee deferred compensation contributions, with no obligation to make such contributions in future periods. The deferred compensation liability was $14,095 as of June 30, 2026, of which $14,070 was included in "Other long-term obligations" and $25 was included in "Accrued compensation and other benefits" on the Company's condensed consolidated balance sheets. The deferred compensation liability was $12,806 as of December 31, 2025, of which $12,781 was included in "Other long-term obligations" and $25 was included in "Accrued compensation and other benefits" on the Company’s consolidated balance sheets. The related assets of the irrevocable trust funds (also known as "rabbi trust funds") were $14,084 as of June 30, 2026, of which $14,059 was included in "Other non-current assets" and $25 was included in "Other current assets" on the Company's condensed consolidated balance sheet. The rabbi trust funds were $12,798 as of December 31, 2025, of which $12,773 was included in "Other non-current assets" and $25 was included in "Other current assets" on the Company's condensed consolidated balance sheets.

NOTE 15 – COMMITMENTS AND CONTINGENCIES

The Company is obligated to make rental payments under non-cancelable operating and finance leases. Aggregate future minimum rental payments required under these leases at December 31, 2025 are disclosed in Note 18, Leases.

The Company’s Verona, Missouri facility, while held by a prior owner, Syntex Agribusiness, Inc. (“Syntex”), was designated by the U.S. Environmental Protection Agency (the "EPA") as a Superfund site and placed on the National Priorities List in 1983 because of dioxin contamination on portions of the site. Remediation was conducted by Syntex under the oversight of the EPA and the Missouri Department of Natural Resources. The Company is indemnified by the sellers under its May 2001 asset purchase agreement covering its acquisition of the Verona, Missouri facility for potential liabilities associated with the Superfund site. One of the sellers, in turn, has the benefit of certain contractual indemnification by Syntex in relation to the implementation of the above-described Superfund remedy. In June 2023, in response to a Special Notice Letter received from the EPA in 2022, BCP Ingredients, Inc. ("BCP"), the Company's subsidiary that owns and operates the site, Syntex, EPA, and the State of Missouri entered into an Administrative Settlement Agreement and Order on Consent (“ASAOC”) for a focused remedial investigation/feasibility study ("RI/FS") under which (a) BCP will conduct a source investigation of potential source(s) of releases of 1,4-dioxane and chlorobenzene at a portion of the site and (b) BCP and Syntex will complete a RI/FS to determine a potential remedy, if any is required. Activities under the ASAOC are underway and are expected to continue for some period of time.

Separately, in June 2022, the EPA conducted an inspection of BCP’s Verona, Missouri facility (“2022 EPA Inspection”) which was followed by BCP entering into an Administrative Order for Compliance on Consent (“AOC”) with the EPA in relation to its risk management program at the Verona facility. Further, in January 2023, BCP entered into an Amended AOC with the EPA whereby the parties agreed to the extension of certain timelines. BCP timely completed all requirements under the Amended AOC. In November 2023, BCP received a notice from the Environment and Natural Resources Division of the U.S Department of Justice (“DOJ”) primarily related to the 2022 EPA Inspection, which extended the opportunity to discuss alleged violations of Sections 112(r)(7) of the Clean Air Act and regulations in 40 C.F.R. Part 68, commonly known as the Risk Management Plan Rule (“RMP Rule”). BCP participated in such discussions during 2024, and in December 2024, BCP reached a settlement with the EPA and DOJ to resolve these alleged violations. Pursuant to the settlement, which was entered into on January 31, 2025, BCP agreed to: (a) pay a $300 civil penalty; (b) complete a new scrubber system project; and (c) spend $350 to implement projects benefiting the surrounding community, such as emergency equipment for the local fire department and two vehicles to be used as mobile health clinics. The amount associated with this settlement was consistent with the amount previously accrued as a loss contingency. BCP has completed most of its obligations under this settlement and will continue to take steps to timely complete any remaining items.

20

In addition to the above, from time to time, the Company is a party to various legal proceedings, litigation, claims and assessments. While it is not possible to predict the ultimate disposition of each of these matters, management believes that the ultimate outcome of such matters will not have a material effect on the Company's consolidated financial position, results of operations, liquidity or cash flows.

NOTE 16 – FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company has a number of financial instruments, none of which are held for trading purposes. The Company estimates that the fair value of all financial instruments at June 30, 2026 and December 31, 2025 does not differ materially from the aggregate carrying values of its financial instruments recorded in the accompanying condensed consolidated balance sheets. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value, and, accordingly, the estimates are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

The following fair value hierarchy is used to classify assets and liabilities and the table below presents the carrying amounts and the estimated fair values of the Company's financial assets and liabilities measured on a recurring basis as defined by ASC 820, "Fair Value Measurement."

•Level 1 - Inputs are quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.

•Level 2 - Inputs include observable inputs other than quoted prices in active markets.

•Level 3 - Inputs are unobservable inputs for which there is little or no market data available.

	Carrying Amount		Fair Value Measurements
			Level 1		Level 2		Level 3
June 30, 2026
Assets:
Money market funds (1)	$	1,517	$	1,517	$	—	$	—
Rabbi trust funds - current (2)	25		25		—		—
Rabbi trust funds - non-current (2)	14,059		14,059		—		—
December 31, 2025
Assets:
Money market funds (1)	$	1,464	$	1,464	$	—	$	—
Rabbi trust funds - current (2)	25		25		—		—
Rabbi trust funds - non-current (2)	12,773		12,773		—		—
(1) Money market funds are categorized as cash equivalents.
(2) Rabbi trust funds - current and Rabbi trust funds - non-current are included in "Other current assets" and "Other non-current assets" on the consolidated balance sheets, respectively.

The Company’s financial instruments also include accounts receivable, accounts payable, and accrued liabilities, which are carried at cost and approximate fair value due to the short-term maturity of these instruments. The carrying value of debt approximates fair value based upon prices of identical or similar instruments in the marketplace, which are considered Level 2 inputs.

NOTE 17 – RELATED PARTY TRANSACTIONS

The Company provides services under a contractual agreement to St. Gabriel CC Company, LLC. These services include accounting, information technology, quality control, and purchasing services, as well as operation of the St. Gabriel CC Company, LLC plant. The Company also sells raw materials to St. Gabriel CC Company, LLC. These raw materials are used in the production of finished goods that are, in turn, sold by Saint Gabriel CC Company, LLC to the Company for resale to unrelated parties. As such, the sale of these raw materials to St. Gabriel CC Company, LLC in this scenario lacks economic substance and therefore the Company does not include them in net sales within the condensed consolidated statements of earnings.

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Payments for the services the Company provided amounted to $1,172 and $2,289 for the three and six months ended June 30, 2026, respectively, and $1,212 and $2,339 for the three and six months ended June 30, 2025, respectively. The raw materials purchased and subsequently sold amounted to $11,501 and $21,452 for the three and six months ended June 30, 2026, respectively, and $10,821 and $20,746 for the three and six months ended June 30, 2025, respectively. These services and raw materials are primarily recorded in cost of goods sold, net of the finished goods received from St. Gabriel CC Company, LLC of $9,103 and $17,148 during the three and six months ended June 30, 2026, respectively, and $8,983 and $16,901 for the three and six months ended June 30, 2025, respectively. At June 30, 2026 and December 31, 2025, the Company had receivables of $4,232 and $4,225, respectively, recorded in accounts receivable from St. Gabriel CC Company, LLC for services rendered and raw materials sold. At June 30, 2026 and December 31, 2025, the Company had payables of $2,888 and $3,369, respectively, recorded in accounts payable for finished goods received from St. Gabriel CC Company, LLC. The Company had payables in the amount of $296 related to non-contractual monies owed to St. Gabriel CC Company, LLC, recorded in accounts payable as of both June 30, 2026 and December 31, 2025.

NOTE 18 – LEASES

The Company has both real estate leases and equipment leases. The Company developed four tranches of leases based on lease terms and these tranches reflect the composition of the current lease portfolio. The Company's borrowing history shows that interest rates of a term loan or a line of credit depend on the duration of the loan rather than the nature of the assets purchased by those funds. Based on this understanding, the Company elected to use a portfolio approach to discount rates, applying corporate rates to the tranches of leases based on lease terms. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during the second quarter of 2026: (1) 1-2 years, 4.96% (2) 3-4 years, 5.55% (3) 5-9 years, 5.89% and (4) 10+ years, 6.61%.

Right of use assets and lease liabilities at June 30, 2026 and December 31, 2025 are summarized as follows:

Right of use assets	June 30, 2026		December 31, 2025
Operating leases	$	12,703	$	14,672
Finance leases	1,417		1,520
Total	$	14,120	$	16,192

Lease liabilities - current	June 30, 2026		December 31, 2025
Operating leases	$	3,172	$	3,614
Finance leases	210		205
Total	$	3,382	$	3,819

Lease liabilities - non-current	June 30, 2026		December 31, 2025
Operating leases	$	9,895	$	11,324
Finance leases	1,438		1,544
Total	$	11,333	$	12,868

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For the three and six months ended June 30, 2026 and 2025, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions:

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Lease Cost
Operating lease cost	$	1,260		$	1,368		$	2,562		$	2,693
Finance lease cost
Amortization of ROU asset	53			52			105			104
Interest on lease liabilities	21			24			43			48
Total finance lease	74			76			148			152
Total lease cost	$	1,334		$	1,444		$	2,710		$	2,845
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,270		$	1,385		$	2,573		$	2,742
Operating cash flows from finance leases	21			24			43			48
Financing cash flows from finance leases	51			48			102			97
	$	1,342		$	1,457		$	2,718		$	2,887
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed	$	87		$	655		$	220		$	1,857
Weighted-average remaining lease term - operating leases	5.57 years			8.76 years			5.57 years			8.76 years
Weighted-average remaining lease term - finance leases	6.75 years			7.86 years			6.75 years			7.86 years
Weighted-average discount rate - operating leases	7.1		%	7.6		%	7.1		%	7.6		%
Weighted-average discount rate - finance leases	5.1		%	5.1		%	5.1		%	5.1		%

Rent expense charged to operations under operating lease agreements for the three and six months ended June 30, 2026 aggregated to approximately $1,260 and $2,562, respectively, and $1,368 and $2,693 for the three and six months ended June 30, 2025, respectively.

Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2026 are as follows:

Year
July 1, 2026 to December 31, 2026	$	2,405
2027	3,734
2028	2,944
2029	2,521
2030	2,065
2031	1,826
Thereafter	2,539
Total undiscounted lease payments	18,034
Less: Present value adjustment	(3,319)
Present value of lease liabilities	$	14,715

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Item 2.    Management's Discussion and Analysis of Financial Condition and Results of Operations

(All amounts in thousands, except share and per share data)

Forward-Looking Statements

This report contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our expectation or belief concerning future events that involve risks and uncertainties. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Actions and performance could differ materially from what is contemplated by the forward-looking statements contained in this report. Factors that might cause differences from the forward-looking statements include those referred to or identified in Item 1A of the Annual Report on Form 10-K for the year ended December 31, 2025 and other factors that may be identified elsewhere in this report. Reference should be made to such factors and all forward-looking statements are qualified in their entirety by the above cautionary statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Factors that may affect our forward-looking statements include, among other things: (1) our ability to manage risks associated with our sales to customers and manufacturing operations outside the United States, including changes in tariffs, sanctions, trade restrictions and trade relations, political and economic instability and geopolitical tensions; (2) supply chain disruptions due to political unrest, terrorist acts, and national and international conflicts; (3) reliability and sufficiency of our manufacturing facilities; (4) our ability to recruit and retain a highly qualified and motivated workforce; (5) our ability to effectively manage labor relations; (6) the effects of global climate change or other unexpected events, including global health crises, that may disrupt our operations; (7) our ability to manage risks related to our information technology and operational technology systems and cybersecurity; (8) our reliance on third-party vendors for many of the critical elements of our global information and operational technology infrastructure and their failure to provide effective support for such infrastructure; (9) disruption and breaches of our information systems; (10) increased competition and our ability to anticipate evolving trends in the market; (11) global economic conditions, including inflation, recession, changes in tariffs and trade relations; (12) raw material shortages or price increases; (13) currency translation and currency transaction risks; (14) interest rate risks; (15) our ability to successfully consummate and manage acquisitions, joint ventures and divestitures; (16) our ability to effectively manage and implement restructuring initiatives or other organizational changes; (17) changes in our relationships with our vendors, changes in tax or trade policy, interruptions in our operations or supply chain, political or financial instability and geopolitical tensions; (18) adverse publicity or consumer concern regarding the safety or quality of food products containing our products; (19) the outcome of any litigation, governmental investigations or proceedings; (20) product liability claims and recalls; (21) our ability to protect our brand reputation and trademarks; (22) claims of infringement of intellectual property rights by third parties; (23) risks related to corporate social responsibility and reputational matters; (24) improper conduct by any of our employees, agents or business partners; (25) changes to, or changes in interpretations of, current laws and regulations, and loss of governmental permits and approvals; and (26) regulatory requirements for ethylene oxide users that have impacted, and may continue to impact, such users’ ability to use the ethylene oxide process to sterilize medical devices, among other things.

Overview

We develop, manufacture, distribute and market specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, performance gases, plant nutrition and industrial markets. Our three reportable segments are strategic businesses that offer products and services to different markets: Human Nutrition & Health, Animal Nutrition & Health, and Specialty Products. Sales and production of products outside of our reportable segments and other minor business activities are included in "Other and Unallocated".

Balchem is committed to solving today's challenges to shape a healthier tomorrow by operating responsibly and providing innovative solutions for the health and nutritional needs of the world. Sustainability is at the heart of our company's vision to make the world a healthier place and plays an important role in our strategies and in long-term value creation for our stakeholders. Our framework focuses on the sustainability topics most relevant to our business and stakeholders, and has been fully integrated into our governance structure and everyday operations. We are very proud of our significant progress relating to the Company's corporate social responsibilities and will continue to foster these fundamental principles broadly along our entire value chain, develop new ideas and technologies that help us work smarter, and help build a world that is a better place to live.

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As of June 30, 2026, we employed approximately 1,379 full time employees worldwide. Labor market conditions remained generally stable during the quarter, supporting our ability to attract and retain skilled and experienced employees in a competitive talent market. Additionally, we continued to invest in and leverage technology solutions to enhance productivity, improve performance, and drive operational efficiencies across the organization.

Recent Developments

Geopolitical Conflicts

We continue to monitor the heightened geopolitical tensions in the Middle East, including conflicts involving Iran, which have, or may have, certain effects on our business and broader consequences, including increased energy prices, certain raw material costs, increased freight costs, and volatility in shipping patterns. All above impacts may adversely affect the global economy and may have the effect of heightening the operational risks disclosed in the "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025.

Tariffs

We continue to monitor developments with respect to tariffs and other trade policy matters closely, including impacts from the U.S. Supreme Court decision in February 2026 that invalidated certain tariffs previously imposed under the International Emergency Economic Powers Act (“IEEPA”). Following the ruling, the U.S. presidential administration imposed additional tariffs under other statutory authorities, resulting in a rapidly evolving tariff environment. The online portal and process to submit IEEPA tariff refund requests became available on April 20, 2026, and as of June 2026, we have participated in the process for refunds to the extent we were the importer of record and directly paid tariffs under IEEPA. At this time, we cannot reasonably estimate the total financial impact of these developments; however, we do not expect them to have a material effect on our future results of operations or cash flows. We will continue to monitor and evaluate new information as it becomes available.

Segment Results

We sell products for all three segments through our own sales force, independent distributors, and sales agents.

The following tables summarize consolidated net sales by segment and business segment earnings from operations for the three and six months ended June 30, 2026 and 2025:

Business Segment Net Sales	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2026		2025		2026		2025
Human Nutrition & Health	$	176,894	$	160,773	$	348,522	$	319,230
Animal Nutrition & Health	64,454		56,028		126,643		113,305
Specialty Products	40,511		37,185		75,238		70,460
Other and Unallocated (1)	2,138		1,481		4,303		2,991
Total	$	283,997	$	255,467	$	554,706	$	505,986

Business Segment Earnings From Operations	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2026		2025		2026		2025
Human Nutrition & Health	$	42,381	$	38,342	$	82,401	$	76,316
Animal Nutrition & Health	5,227		3,514		10,919		8,750
Specialty Products	12,893		11,269		24,828		20,854
Other and Unallocated (1)	(1,280)		(1,683)		(3,301)		(3,463)
Total	$	59,221	$	51,442	$	114,847	$	102,457

(1) Other and Unallocated consists of a few minor businesses which individually do not meet the quantitative thresholds for separate presentation and corporate expenses that have not been allocated to a segment. Unallocated corporate expenses consist of transaction and integration costs of $22 and $917 for the three and six months ended June 30, 2026, respectively, and $405 and $894 for the three and six months ended June 30, 2025, respectively.

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Results of Operations - Three Months Ended June 30, 2026 and 2025

Net Earnings

	Three Months Ended June 30,				Increase (Decrease)
(in thousands)	2026		2025				% Change
Net sales	$	283,997	$	255,467	$	28,530	11.2	%
Gross margin	103,683		93,113		10,570		11.4	%
Operating expenses	44,462		41,671		2,791		6.7	%
Earnings from operations	59,221		51,442		7,779		15.1	%
Interest and other expenses	1,440		2,431		(991)		(40.8)	%
Income tax expense	13,166		10,733		2,433		22.7	%
Net earnings	$	44,615	$	38,278	$	6,337	16.6	%

Net Sales

	Three Months Ended June 30,				Increase (Decrease)
(in thousands)	2026		2025				% Change
Human Nutrition & Health	$	176,894	$	160,773	$	16,121	10.0	%
Animal Nutrition & Health	64,454		56,028		8,426		15.0	%
Specialty Products	40,511		37,185		3,326		8.9	%
Other	2,138		1,481		657		44.4	%
Total	$	283,997	$	255,467	$	28,530	11.2	%

•The increase in net sales within the Human Nutrition & Health segment for the second quarter of 2026 as compared to the second quarter of 2025 was driven by higher sales within both the nutrients business and the food ingredients and solutions businesses. Total sales for this segment grew 10.0%, with volume and mix contributing 7.0%, average selling prices contributing 2.7%, and the change in foreign currency exchange rates contributing 0.4%.

•The increase in net sales within the Animal Nutrition & Health segment for the second quarter of 2026 compared to the second quarter of 2025 was driven by higher sales in both the monogastric and ruminant species markets. Total sales for this segment increased by 15.0%, with volume and mix contributing 7.9%, average selling prices contributing 6.6%, and the change in foreign currency exchange rates contributing 0.5%.

•The increase in net sales within the Specialty Products segment for the second quarter of 2026 compared to the second quarter of 2025 was due to higher sales in both the performance gases and plant nutrition businesses. Total sales for this segment increased by 8.9%, with average selling prices contributing 4.3%, volume and mix contributing 3.7%, and the change in foreign currency exchange rates contributing 1.0%.

•Sales may fluctuate in future periods based on macroeconomic conditions, competitive dynamics, changes in customer preferences, and our ability to successfully introduce new products to the market.

Gross Margin

	Three Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Gross margin	$	103,683		$	93,113		$	10,570	11.4	%
% of net sales	36.5		%	36.4		%

Gross margin dollars increased in the second quarter of 2026 compared to the second quarter of 2025 due to sales growth and manufacturing efficiencies, partially offset by certain higher manufacturing input costs.

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Operating Expenses

	Three Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Operating expenses	$	44,462		$	41,671		$	2,791	6.7	%
% of net sales	15.7		%	16.3		%

The increase in operating expenses in the second quarter of 2026 compared to the second quarter of 2025 was primarily due to higher compensation-related costs of $2,942.

Earnings from Operations

	Three Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Human Nutrition & Health	$	42,381		$	38,342		$	4,039	10.5	%
Animal Nutrition & Health	5,227			3,514			1,713		48.7	%
Specialty Products	12,893			11,269			1,624		14.4	%
Other and unallocated	(1,280)			(1,683)			403		23.9	%
Earnings from operations	$	59,221		$	51,442		$	7,779	15.1	%
% of net sales (operating margin)	20.9		%	20.1		%

•Human Nutrition & Health segment earnings from operations increased $4,039 primarily due to a gross margin contribution of $5,714. The increase in gross margin was primarily due to the aforementioned higher sales and favorable mix, partially offset by certain higher manufacturing input costs. The increase in gross margin was partially offset by an increase in operating expenses of $1,679, primarily due to higher compensation-related costs of $915 and higher amortization of $244.

•Animal Nutrition & Health segment earnings from operations increased $1,713. Gross margin contribution was $2,827, which was driven by the aforementioned higher sales, partially offset by certain higher manufacturing input costs. The increase in gross margin was partially offset by an increase in operating expenses of $1,112, primarily due to higher compensation-related costs of $1,131.

•Specialty Products segment earnings from operations increased $1,624 primarily due to a gross margin contribution of $1,958. The increase in gross margin was mainly due to the aforementioned higher sales and favorable mix, partially offset by certain higher manufacturing input costs.

Other Expenses

	Three Months Ended June 30,				Increase (Decrease)
(in thousands)	2026		2025				% Change
Interest expense, net	$	1,938	$	2,766	$	(828)	(29.9)	%
Other expense (income), net	(498)		(335)		(163)		(48.7)	%
	$	1,440	$	2,431	$	(991)	(40.8)	%

Interest expense for the three months ended June 30, 2026 and 2025 was primarily related to outstanding borrowings under the 2022 Credit Agreement. The decrease in net interest expense is primarily due to lower outstanding borrowings and lower interest rates.

Income Tax Expense

	Three Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Income tax expense	$	13,166		$	10,733		$	2,433	22.7	%
Effective tax rate	22.8		%	21.9		%

The higher effective tax rate was primarily due to lower tax benefits from stock-based compensation.

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Results of Operations - Six Months Ended June 30, 2026 and 2025

Net Earnings

	Six Months Ended June 30,				Increase (Decrease)
(in thousands)	2026		2025				% Change
Net sales	$	554,706	$	505,986	$	48,720	9.6	%
Gross margin	204,767		181,281		23,486		13.0	%
Operating expenses	89,920		78,824		11,096		14.1	%
Earnings from operations	114,847		102,457		12,390		12.1	%
Interest and other expenses	4,544		5,506		(962)		(17.5)	%
Income tax expense	25,403		21,620		3,783		17.5	%
Net earnings	$	84,900	$	75,331	$	9,569	12.7	%

Net Sales

	Six Months Ended June 30,				Increase (Decrease)
(in thousands)	2026		2025				% Change
Human Nutrition & Health	$	348,522	$	319,230	$	29,292	9.2	%
Animal Nutrition & Health	126,643		113,305		13,338		11.8	%
Specialty Products	75,238		70,460		4,778		6.8	%
Other	4,303		2,991		1,312		43.9	%
Total	$	554,706	$	505,986	$	48,720	9.6	%

•The increase in net sales within the Human Nutrition & Health segment for the six months ended June 30, 2026 as compared to 2025 was driven by higher sales within both the nutrients business and the food ingredients and solutions businesses. Total sales for this segment grew 9.2%, with volume and mix contributing 7.1%, average selling prices contributing 1.1%, and the change in foreign currency exchange rates contributing 1.0%.

•The increase in net sales within the Animal Nutrition & Health segment for the six months ended June 30, 2026 as compared to 2025 was driven by higher sales in both the monogastric and ruminant species markets. Total sales for this segment increased by 11.8%, with average selling prices contributing 6.6%, volume and mix contributing 3.8%, and the change in foreign currency exchange rates contributing 1.4%.

•The increase in net sales within the Specialty Products segment for the six months ended June 30, 2026 as compared to 2025 was due to higher sales in the performance gases business. Total sales for this segment increased by 6.8%, with average selling prices contributing 4.1%, the change in foreign currency exchange rates contributing 2.1%, and volume and mix contributing 0.6%.

•Sales may fluctuate in future periods based on macroeconomic conditions, competitive dynamics, changes in customer preferences, and our ability to successfully introduce new products to the market.

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Gross Margin

	Six Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Gross margin	$	204,767		$	181,281		$	23,486	13.0	%
% of net sales	36.9		%	35.8		%

Gross margin dollars increased in the six months ended June 30, 2026 as compared to 2025 due to the sales growth, manufacturing efficiencies and favorable mix, partially offset by certain higher manufacturing input costs.

Operating Expenses

	Six Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Operating expenses	$	89,920		$	78,824		$	11,096	14.1	%
% of net sales	16.2		%	15.6		%

The increase in operating expenses in the six months ended June 30, 2026 as compared to 2025 was primarily due to an increase in compensation-related costs of $8,069.

Earnings from Operations

	Six Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Human Nutrition & Health	$	82,401		$	76,316		$	6,085	8.0	%
Animal Nutrition & Health	10,919			8,750			2,169		24.8	%
Specialty Products	24,828			20,854			3,974		19.1	%
Other and unallocated	(3,301)			(3,463)			162		4.7	%
Earnings from operations	$	114,847		$	102,457		$	12,390	12.1	%
% of net sales (operating margin)	20.7		%	20.2		%

•Human Nutrition & Health segment earnings from operations increased $6,085 primarily due to a gross margin contribution of $12,498. The increase in gross margin was primarily due to the aforementioned higher sales and favorable mix, partially offset by certain higher manufacturing input costs. The increase in gross margin was partially offset by an increase in operating expenses of $6,414, primarily due to higher compensation-related costs of $3,404 and higher amortization of $657.

•Animal Nutrition & Health segment earnings from operations increased $2,169 primarily due to a gross margin contribution of $5,452, which was driven by the aforementioned higher sales, partially offset by certain higher manufacturing input costs. The increase in gross margin was partially offset by an increase in operating expenses of $3,284, primarily due to higher compensation-related costs of $2,717.

•Specialty Products segment earnings from operations increased $3,974 primarily due to a gross margin contribution of $5,132. The increase in gross margin was mainly due to the aforementioned higher sales and favorable mix. The increase in gross margin was partially offset by an increase in operating expenses of $1,158, primarily due to higher compensation-related costs of $1,748.

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Other Expenses

	Six Months Ended June 30,				Increase (Decrease)
(in thousands)	2026		2025				% Change
Interest expense, net	$	4,151	$	5,690	$	(1,539)	(27.0)	%
Other expense (income), net	393		(184)		577		313.6	%
	$	4,544	$	5,506	$	(962)	(17.5)	%

Interest expense for the six months ended June 30, 2026 and 2025 was primarily related to outstanding borrowings under the 2022 Credit Agreement. The decrease in net interest expense is primarily due to lower outstanding borrowings and lower interest rates. The increase in net other expense for the six months ended June 30, 2026 and 2025 was primarily related to foreign currency losses.

Income Tax Expense

	Six Months Ended June 30,						Increase (Decrease)
(in thousands)	2026			2025					% Change
Income tax expense	$	25,403		$	21,620		$	3,783	17.5	%
Effective tax rate	23.0		%	22.3		%

The higher effective tax rate was primarily due to an increase in certain state taxes and lower tax benefits from stock-based compensation.

Liquidity and Capital Resources

During the six months ended June 30, 2026, there were no material changes outside the ordinary course of business in the specified contractual obligations set forth in our Annual Report on Form 10-K for the year ended December 31, 2025. We expect our operations to continue generating sufficient cash flow to fund working capital requirements and necessary capital investments. We are actively pursuing additional acquisition candidates. We could seek additional bank loans or access to financial markets to fund such acquisitions, our operations, working capital, necessary capital investments or other cash requirements should we deem it necessary to do so.

Cash

Cash and cash equivalents decreased to $63,174 at June 30, 2026 from $74,570 at December 31, 2025. At June 30, 2026, the Company had $53,925 of cash and cash equivalents held by foreign subsidiaries. We intend to permanently reinvest a significant portion of these foreign-held funds in foreign operations by continuing to make additional plant related investments, and potentially invest in partnerships or acquisitions; however, we may also repatriate a portion of cash held by certain foreign subsidiaries to support U.S. liquidity needs and capital allocation priorities. To the extent amounts are repatriated, we could be required to pay applicable withholding taxes on such repatriations. During the second quarter of 2026, we repatriated $23,460 from our Belgium subsidiary to pay down U.S. debt. Working capital was $242,669 at June 30, 2026 as compared to $189,230 at December 31, 2025, an increase of $53,439. Significant cash payments during the six months ended June 30, 2026 included repurchases of common stock of $44,484, the payment of dividends declared in 2025 of $30,772, income taxes paid of $29,184, capital expenditures and intangible assets acquired of $17,138, and net debt payments of $12,000.

	Six Months Ended June 30,				Increase (Decrease)
(in thousands)	2026		2025				% Change
Cash flows provided by operating activities	$	86,772	$	83,709	$	3,063	3.7	%
Cash flows used in investing activities	(17,226)		(12,533)		(4,693)		(37.4)	%
Cash flows used in financing activities	(79,616)		(60,729)		(18,887)		(31.1)	%

Operating Activities

The increase in cash flows from operating activities was primarily driven by the increases in net earnings, partially offset by the impact from the changes in working capital.

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Investing Activities

We continue to invest in corporate projects, improvements across all production facilities, and intangible assets. Total investments in property, plant and equipment and intangible assets were $17,138 and $12,372 for the six months ended June 30, 2026 and 2025, respectively.

Financing Activities

During the six months ended June 30, 2026, we borrowed $80,000 to fund the 2025 dividend, bonus payments, and share repurchases. We made total loan payments of $92,000, resulting in $398,000 available under the 2022 Credit Agreement (see Note 7, Revolving Loan) as of June 30, 2026.

On July 24, 2026, the Company entered into Amendment No. 1 to the 2022 Credit Agreement (the "Credit Agreement Amendment"). The Credit Agreement Amendment increased the aggregate revolving commitment amount from $550,000 to $650,000, extended the maturity date of the credit facility from July 27, 2027 to July 24, 2031, and made certain other amendments to the facility terms. The Company used initial proceeds from the Credit Agreement Amendment to repay the outstanding balance of $152,000 due in July 2027 under the 2022 Credit Agreement. The Credit Agreement Amendment expands our ability to fund growth, innovation, and acquisitions.

On December 9, 2025, the Company's Board of Directors approved a stock repurchase program (the "December 2025 program"), which replaced the previously approved June 1999 program. The December 2025 program authorizes the repurchases of up to and including 4,000,000 shares of the Company's ordinary shares. The stock repurchase program has no expiration date, does not oblige the Company to acquire any particular amount of the Company's ordinary shares, and may be terminated at any time. Since the inception of the December 2025 program, a total of 342,788 shares have been repurchased. We intend to acquire shares from time to time at prevailing market prices if and to the extent we deem it is advisable to do so based on our assessment of corporate cash flow, market conditions and other factors. Open market repurchases of common stock could be made pursuant to a share repurchase agreement in compliance with Rule 10b-18 or a trading plan established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which would permit common stock to be repurchased at a time that we might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. We also repurchase (withhold) shares from employees in connection with the tax settlement of vested shares and/or exercised stock options, as applicable, under the Company's omnibus incentive plan. Such repurchases of shares from employees are funded with existing cash on hand. Repurchases of common stock were $44,484 and $38,589 for the three months ended June 30, 2026 and 2025, respectively.

Proceeds from stock options exercised were $7,742 and $6,222 for the six months ended June 30, 2026 and 2025, respectively. Dividend payments were $30,772 and $28,265 for the six months ended June 30, 2026 and 2025, respectively.

Other Matters Impacting Liquidity

As of June 30, 2026 and December 31, 2025, we have a liability of $6,945 and $6,731, respectively, for uncertain tax positions, including the related interest and penalties, recorded in accordance with ASC 740-10, for which we are unable to reasonably estimate the timing of settlement, if any.

We currently provide postretirement benefits in the form of two retirement medical plans, as discussed in Note 14, Employee Benefit Plans. The liabilities recorded in "Other long-term obligations" on the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025 were $1,128 and $1,122, respectively, and the plans are not funded. Historical cash payments made under these plans have typically been less than $200 per year. We do not anticipate any changes to the payments made in the current year for the plans.

Chemogas has an unfunded defined benefit plan. The plan provides for the payment of a lump sum at retirement or payments in case of death of the covered employees. The amounts recorded for this obligation on our balance sheets as of June 30, 2026 and December 31, 2025 was $911 and $869, respectively, and was included in "Other long-term obligations" on the condensed consolidated balance sheets.

We provide an unfunded, nonqualified deferred compensation plan maintained for the benefit of a select group of management or highly compensated employees. Assets of the plan are held in a rabbi trust and are subject to additional risk of loss in the event of bankruptcy or insolvency of the Company. The deferred compensation liability was $14,095 as of June 30, 2026, of which $14,070 was included in "Other long-term obligations" and $25 was included in "Accrued compensation and other benefits" on our consolidated balance sheets. The deferred compensation liability was $12,806 as of December 31, 2025, of which $12,781 was included in "Other long-term obligations" and $25 was included in "Accrued compensation and other benefits" on our consolidated balance sheets. The related rabbi trust assets were $14,084 as of June 30, 2026, of which $14,059 was included in "Other non-current assets" and $25 was included in "Other current assets" on the condensed consolidated balance sheets. The

31

rabbi trust assets were $12,798 as of December 31, 2025, of which $12,773 was included in "Other non-current assets" and $25 was included in "Other current assets" on the Company's condensed consolidated balance sheets.

Significant Accounting Policies

There were no changes to our Significant Accounting Policies, as described in our December 31, 2025 Annual Report on Form 10-K, during the six months ended June 30, 2026.

Related Party Transactions

We were engaged in related party transactions with St. Gabriel CC Company, LLC during the three and six months ended June 30, 2026. Refer to Note 17, Related Party Transactions.

32

Item 3.    Quantitative and Qualitative Disclosures About Market Risk

Our cash and cash equivalents are held primarily in checking accounts and money market investment funds. Additionally, as of June 30, 2026, our borrowings were under a revolving loan bearing interest at a fluctuating rate as defined by the 2022 Credit Agreement plus an applicable rate (See Note 7, Revolving Loan). The applicable rate is based upon our consolidated net leverage ratio, as defined in the 2022 Credit Agreement. A 100 basis point increase or decrease in interest rates, applied to our borrowings at June 30, 2026, would result in an increase or decrease in annual interest expense and a corresponding reduction or increase in cash flow of approximately $1,520. We are exposed to commodity price risks, including prices of our primary raw materials. Our objective is to seek a reduction in the potential negative earnings impact of raw material pricing arising in our business activities. We manage these financial exposures, where possible, through pricing and operational means. Our practices may change as economic conditions change.

Interest Rate Risk

We have exposure to market risk for changes in interest rates, including the interest rate relating to the 2022 Credit Agreement.

Foreign Currency Exchange Risk

The financial condition and results of operations of our foreign subsidiaries are reported in local currencies and then translated into U.S. dollars at the applicable currency exchange rate for inclusion in our consolidated financial statements. Therefore, we are exposed to foreign currency exchange risk related to these currencies.

Item 4.    Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

Prior to filing this report, we completed an evaluation under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as defined in Rule 13a-15(e) of the Exchange Act as of June 30, 2026. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of June 30, 2026.

(b) Changes in Internal Controls

There have been no changes in the internal controls over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Act) during the fiscal quarter ended June 30, 2026, that have materially affected, or are reasonably likely to materially affect, internal control over financial reporting.

Part II.    Other Information

Item 1.    Legal Proceedings

In the normal course of business, we are involved in a variety of lawsuits, claims and legal proceedings, from time to time, including commercial and contract disputes, labor and employment matters, product liability claims, environmental liabilities, trade regulation matters, intellectual property disputes and tax-related matters. Further, in connection with normal operations at our plant facilities, our manufacturing sites may, from time to time, be subject to inspections or inquiries by the EPA and other agencies. To the extent any consent orders or other agreements are entered into as a result of findings from such inspections or inquiries, the Company is committed to ensuring compliance with such orders or agreements.

Information with respect to certain legal proceedings is included in Note 15, Commitments and Contingencies, to our consolidated financial statements for the quarter ended June 30, 2026 contained in this Quarterly Report on Form 10-Q, and is incorporated herein by reference.

In our opinion, we do not expect pending legal matters to have a material adverse effect on our consolidated financial position, results of operations, liquidity or cash flows.

33

Item 1A.    Risk Factors

There have been no material changes in the Risk Factors identified in the Company's Annual report on Form 10-K for the year ended December 31, 2025. For a further discussion of our Risk Factors, refer to the "Risk Factors" discussion contained in our Annual Report on Form 10-K for the year ended December 31, 2025.

Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds

The following table summarizes the share repurchases activity for the six months ended June 30, 2026:

	Total Number of Shares Purchased (1)	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2)	Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2)(3)
January 1-31, 2026	53,543	$	158.94	53,543	$	616,178,274
February 1-28, 2026	36,337	$	176.46	36,337	$	677,687,748
March 1-31, 2026	—	$	—	—	$	677,687,748
First Quarter	89,880			89,880
April 1-30, 2026	290	$	170.42	290	$	654,441,942
May 1-31, 2026	49,991	$	160.06	49,991	$	606,640,523
June 1-30, 2026	132,968	$	162.36	132,968	$	593,781,228
Second Quarter	183,249			183,249
Total	273,129			273,129
(1) The Company repurchased shares from open market purchases and/or withheld shares from employees in connection with the tax settlement of vested shares under the Company's omnibus incentive plan.
(2) On December 9, 2025, the Board of Directors of the Company approved a stock repurchase program which replaced the previously approved June 1999 program. The December 2025 program authorizes the repurchases of up to and including 4,000,000 shares of the Company's ordinary shares. The stock repurchase program has no expiration date, does not oblige the Company to acquire any particular amount of the Company's ordinary shares, and may be terminated at any time. Since the inception of the new program on December 9, 2025, a total of 342,788 shares have been repurchased under the December 2025 program.
(3) Dollar amounts in this column equal the number of shares remaining available for repurchases under the stock repurchase program as of the last date of the applicable month multiplied by the monthly average price paid per share.

34

Item 5.     Other Information

No directors or officers adopted, modified or terminated a Rule 10b5-1 trading arrangement during the fiscal quarter ended June 30, 2026.

35

Item 6.    Exhibits

Exhibit Number	Description
Exhibit 31.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(a).
Exhibit 31.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(a).
Exhibit 32.1	Certification of Chief Executive Officer pursuant to Rule 13a-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code.
Exhibit 32.2	Certification of Chief Financial Officer pursuant to Rule 13a-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code.
101.INS	XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
104	Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
* Compensatory plan or arrangement.

36

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	BALCHEM CORPORATION
	By: /s/ Theodore L. Harris
	Theodore L. Harris, Chairman, President, and Chief Executive Officer
	By: /s/ Martin Bengtsson
	Martin Bengtsson, Executive Vice President and Chief Financial Officer
Date: July 31, 2026

37

EX-31.1

Exhibit 31.1 

CERTIFICATIONS

I, Theodore L. Harris, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Balchem Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 31, 2026	/s/ Theodore L. Harris
	Theodore L. Harris
	Chairman, President, and Chief Executive Officer
	(Principal Executive Officer)

EX-31.2

Exhibit 31.2 

CERTIFICATIONS

I, Martin Bengtsson, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Balchem Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 31, 2026	/s/ Martin Bengtsson
	Martin Bengtsson
	Executive Vice President and Chief Financial Officer
	(Principal Financial Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Balchem Corporation (the “Company”) on Form 10-Q for the period ended June 30, 2026 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Theodore L. Harris, President, and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/ Theodore L. Harris

Theodore L. Harris

Chairman, President, and Chief Executive Officer

(Principal Executive Officer)

July 31, 2026

This certification accompanies the above-described Report on Form 10-Q pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Balchem Corporation (the "Company") on Form 10-Q for the period ended June 30, 2026 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Martin Bengtsson, Chief Financial Officer and Treasurer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

(1)The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/ Martin Bengtsson

Martin Bengtsson

Executive Vice President and
Chief Financial Officer

(Principal Financial Officer)

July 31, 2026

This certification accompanies the above-described Report on Form 10-Q pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by such Act, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. 

XML

Cover - shares	6 Months Ended
	Jun. 30, 2026	Jul. 23, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	1-13648
Entity Registrant Name	Balchem Corporation
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	13-2578432
Entity Address, Address Line One	5 Paragon Drive
Entity Address, City or Town	Montvale
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07645
City Area Code	845
Local Phone Number	326-5600
Title of 12(b) Security	Common Stock, par value $.06-2/3 per share
Trading Symbol	BCPC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,878,021
Entity Central Index Key	0000009326
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2

XML

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 63,174	$ 74,570
Accounts receivable, net of allowance for credit losses of $1,128 and $862 at June 30, 2026 and December 31, 2025, respectively	148,973	143,596
Inventories, net	161,551	131,449
Prepaid expenses	8,527	9,778
Prepaid income taxes	868	0
Other current assets	5,331	6,221
Total current assets	388,424	365,614
Property, plant and equipment, net	304,702	306,648
Goodwill	808,809	816,375
Customer relationships and lists, net	123,728	132,994
Other intangible assets with finite lives, net	27,915	30,295
Right of use assets - operating leases	12,703	14,672
Right of use assets - finance lease	1,417	1,520
Other non-current assets	19,306	18,134
Total assets	1,687,004	1,686,252
Current liabilities:
Trade accounts payable	70,451	60,425
Accrued expenses	51,791	49,288
Accrued compensation and other benefits	19,965	27,896
Dividends payable	166	31,044
Income taxes payable	0	3,912
Operating lease liabilities - current	3,172	3,614
Finance lease liabilities - current	210	205
Total current liabilities	145,755	176,384
Revolving loan	152,000	164,000
Deferred income taxes	52,943	54,143
Operating lease liabilities - non-current	9,895	11,324
Finance lease liabilities - non-current	1,438	1,544
Other long-term obligations	22,595	21,444
Total liabilities	384,626	428,839
Commitments and contingencies (Note 15)
Stockholders' equity:
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	0	0
Common stock, $0.0667 par value. Authorized 120,000,000 shares; 31,955,534 and 32,058,121 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	2,132	2,139
Additional paid-in capital	66,741	92,331
Retained earnings	1,206,296	1,121,396
Accumulated other comprehensive income	27,209	41,547
Total stockholders' equity	1,302,378	1,257,413
Total liabilities and stockholders' equity	$ 1,687,004	$ 1,686,252

XML

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Accounts receivable allowance for credit losses	$ 1,128	$ 862
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0667	$ 0.0667
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	31,955,534	32,058,121
Common stock, shares outstanding (in shares)	31,955,534	32,058,121

XML

Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 283,997	$ 255,467	$ 554,706	$ 505,986
Cost of sales	180,314	162,354	349,939	324,705
Gross margin	103,683	93,113	204,767	181,281
Operating expenses:
Selling expenses	21,137	19,300	42,233	36,226
Research and development expenses	4,534	4,300	10,415	8,962
General and administrative expenses	18,791	18,071	37,272	33,636
Total operating expenses	44,462	41,671	89,920	78,824
Earnings from operations	59,221	51,442	114,847	102,457
Other expenses, net:
Interest expense, net	1,938	2,766	4,151	5,690
Other (income) expense, net	(498)	(335)	393	(184)
Total other (income) expenses	1,440	2,431	4,544	5,506
Earnings before income tax expense	57,781	49,011	110,303	96,951
Income tax expense	13,166	10,733	25,403	21,620
Net earnings	$ 44,615	$ 38,278	$ 84,900	$ 75,331
Net earnings per common share - basic (in dollars per share)	$ 1.40	$ 1.18	$ 2.66	$ 2.33
Net earnings per common share - diluted (in dollars per share)	$ 1.39	$ 1.17	$ 2.63	$ 2.30

XML

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net earnings	$ 44,615	$ 38,278	$ 84,900	$ 75,331
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	(4,534)	43,776	(14,636)	65,498
Change in postretirement benefit plans	(6)	(1)	298	(239)
Other comprehensive (loss) income	(4,540)	43,775	(14,338)	65,259
Comprehensive income	$ 40,075	$ 82,053	$ 70,562	$ 140,590

XML

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Common Stock	Additional Paid-in Capital
Beginning balance at Dec. 31, 2024	$ 1,149,913	$ 997,493	$ (23,747)	$ 2,170	$ 173,997
Beginning balance (in shares) at Dec. 31, 2024				32,527,244
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	37,053	37,053
Other comprehensive (loss) income	21,484		21,484
Repurchases of common stock	(5,325)			$ (2)	(5,323)
Repurchases of common stock (in shares)				(32,869)
Shares and options issued under stock plans	5,576			$ 7	5,569
Shares and options issued under stock plans (in shares)				117,169
Ending balance at Mar. 31, 2025	1,208,701	1,034,546	(2,263)	$ 2,175	174,243
Ending balance (in shares) at Mar. 31, 2025				32,611,544
Beginning balance at Dec. 31, 2024	1,149,913	997,493	(23,747)	$ 2,170	173,997
Beginning balance (in shares) at Dec. 31, 2024				32,527,244
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	75,331
Other comprehensive (loss) income	65,259
Ending balance at Jun. 30, 2025	1,267,913	1,072,824	41,512	$ 2,165	151,412
Ending balance (in shares) at Jun. 30, 2025				32,455,554
Beginning balance at Mar. 31, 2025	1,208,701	1,034,546	(2,263)	$ 2,175	174,243
Beginning balance (in shares) at Mar. 31, 2025				32,611,544
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	38,278	38,278
Other comprehensive (loss) income	43,775		43,775
Repurchases of common stock	(33,348)			$ (13)	(33,335)
Repurchases of common stock (in shares)				(204,965)
Shares and options issued under stock plans	10,507			$ 3	10,504
Shares and options issued under stock plans (in shares)				48,975
Ending balance at Jun. 30, 2025	1,267,913	1,072,824	41,512	$ 2,165	151,412
Ending balance (in shares) at Jun. 30, 2025				32,455,554
Beginning balance at Dec. 31, 2025	$ 1,257,413	1,121,396	41,547	$ 2,139	92,331
Beginning balance (in shares) at Dec. 31, 2025	32,058,121			32,058,121
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 40,285	40,285
Other comprehensive (loss) income	(9,798)		(9,798)
Repurchases of common stock	(14,923)			$ (6)	(14,917)
Repurchases of common stock (in shares)				(89,880)
Shares and options issued under stock plans	12,139			$ 10	12,129
Shares and options issued under stock plans (in shares)				160,285
Ending balance at Mar. 31, 2026	1,285,116	1,161,681	31,749	$ 2,143	89,543
Ending balance (in shares) at Mar. 31, 2026				32,128,526
Beginning balance at Dec. 31, 2025	$ 1,257,413	1,121,396	41,547	$ 2,139	92,331
Beginning balance (in shares) at Dec. 31, 2025	32,058,121			32,058,121
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 84,900
Other comprehensive (loss) income	(14,338)
Ending balance at Jun. 30, 2026	$ 1,302,378	1,206,296	27,209	$ 2,132	66,741
Ending balance (in shares) at Jun. 30, 2026	31,955,534			31,955,534
Beginning balance at Mar. 31, 2026	$ 1,285,116	1,161,681	31,749	$ 2,143	89,543
Beginning balance (in shares) at Mar. 31, 2026				32,128,526
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	44,615	44,615
Other comprehensive (loss) income	(4,540)		(4,540)
Repurchases of common stock	(29,800)			$ (12)	(29,788)
Repurchases of common stock (in shares)				(183,249)
Shares and options issued under stock plans	6,987			$ 1	6,986
Shares and options issued under stock plans (in shares)				10,257
Ending balance at Jun. 30, 2026	$ 1,302,378	$ 1,206,296	$ 27,209	$ 2,132	$ 66,741
Ending balance (in shares) at Jun. 30, 2026	31,955,534			31,955,534

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Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net earnings	$ 84,900	$ 75,331
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	24,711	22,417
Stock compensation expense	11,277	9,648
Deferred income taxes	(354)	(124)
Provision for (recovery of) credit losses	274	(108)
Unrealized loss (gain) on foreign currency transactions and deferred compensation	688	(843)
Loss (gain) on disposal of assets and asset impairment	492	(117)
Changes in assets and liabilities
Accounts receivable	(6,452)	(13,262)
Inventories	(31,434)	(13,074)
Prepaid expenses and other current assets	1,935	(618)
Accounts payable and accrued expenses	4,823	8,682
Income taxes	(4,832)	(4,410)
Other	744	187
Net cash provided by operating activities	86,772	83,709
Cash flows from investing activities:
Capital expenditures and intangible assets acquired	(17,138)	(12,372)
Cash paid for acquisitions, net of cash acquired	0	(323)
Proceeds from sale of assets	7	267
Investment in affiliates	(95)	(105)
Net cash used in investing activities	(17,226)	(12,533)
Cash flows from financing activities:
Proceeds from revolving loan	80,000	63,000
Principal payments on revolving loan	(92,000)	(63,000)
Principal payments on finance leases	(102)	(97)
Proceeds from stock options exercised	7,742	6,222
Dividends paid	(30,772)	(28,265)
Repurchases of common stock	(44,484)	(38,589)
Net cash used in financing activities	(79,616)	(60,729)
Effect of exchange rate changes on cash	(1,326)	5,465
(Decrease) increase in cash and cash equivalents	(11,396)	15,912
Cash and cash equivalents beginning of period	74,570	49,515
Cash and cash equivalents end of period	$ 63,174	$ 65,427

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CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The condensed consolidated financial statements presented herein have been prepared in accordance with the accounting policies described in the December 31, 2025 consolidated financial statements, and should be read in conjunction with the consolidated financial statements and notes, which appear in the Annual Report on Form 10-K for the year ended December 31, 2025. The condensed consolidated financial statements reflect the operations of Balchem Corporation and its subsidiaries (the "Company" or "Balchem"). All intercompany balances and transactions have been eliminated in consolidation.

In the opinion of management, the unaudited condensed consolidated financial statements furnished in this Form 10-Q include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP” or “GAAP”) governing interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934 (the "Exchange Act") and therefore do not include some information and notes necessary to conform to annual reporting requirements. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the operating results expected for the full year or any interim period.

Certain reclassifications have been made to prior period amounts to conform with the current period's presentation.

Recent Accounting Pronouncements

Recently Issued Accounting Standards

In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2024-03, "Income Statement - Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)." The new guidance is intended to enhance transparency and disclosures by requiring public entities to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. While the adoption of ASU 2024-03 is not expected to have an effect on our consolidated financial statements, it is expected to result in incremental disclosures within the notes to our consolidated financial statements.

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STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2026

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

Stock-Based Compensation

The Company’s results for the three and six months ended June 30, 2026 and 2025 reflected the following stock-based compensation cost, and such compensation cost had the following effects on net earnings:

	Increase/(Decrease) for the				Increase/(Decrease) for the
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of sales	$	647	$	536	$	1,178	$	974
Operating expenses	5,274		5,302		10,099		8,674
Net earnings	(4,580)		(4,577)		(8,700)		(7,506)

The Company's omnibus incentive plan ("the Plan") allows for the granting of stock awards and options to purchase common stock. Both incentive stock options and nonqualified stock options can be awarded under the plan. The Company has approved and reserved a number of shares to be issued upon exercise of the outstanding options that is adequate to cover all exercises. As of June 30, 2026, the Plan had 505,548 shares available for future awards.

Accounting Standards Codification ("ASC") 718, "Compensation-Stock Compensation", requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The weighted average fair values of the stock options granted under the Plan were calculated using either the Black-Scholes model or the Binomial model, whichever was deemed to be most appropriate. For the six months ended June 30, 2026, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions:

	Six Months Ended June 30,
	2026		2025
Dividend yields	0.5	%	0.6	%
Expected volatilities	23.5	%	26.0	%
Risk-free interest rates	3.8	%	4.5	%
Expected lives	5.2 years		5.2 years

Option activity for the six months ended June 30, 2026 and 2025 is summarized below:

For the Six Months Ended June 30, 2026	Shares (000s)	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2025	900	$	120.48	$	29,888	5.2
Granted	71	178.68
Exercised	(77)	100.34
Forfeited	(1)	143.43
Canceled	(2)	139.31
Outstanding as of June 30, 2026	891	$	126.79	$	38,255	5.3
Exercisable as of June 30, 2026	642	$	115.27	$	34,455	4.3

For the Six Months Ended June 30, 2025	Shares (000s)	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2024	962	$	114.81	$	46,346	5.8
Granted	51	159.18
Exercised	(68)	91.48
Forfeited	—	—
Canceled	—	—
Outstanding as of June 30, 2025	945	$	118.88	$	38,084	5.6
Exercisable as of June 30, 2025	638	$	106.87	$	33,375	4.4

Other information pertaining to option activity during the three and six months ended June 30, 2026 and 2025 is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Weighted-average fair value of options granted	$	—	$	—	$	48.90	$	48.86
Total intrinsic value of stock options exercised ($000s)	$	813	$	3,370	$	5,567	$	4,759

The Company has Restricted Stock Grant Agreements with the Company's non–employee directors and certain employees, which are subject to time-based vesting requirements. The value of the restricted shares is based on the fair value of the award at the date of grant.

Non-vested restricted stock activity for the six months ended June 30, 2026 and 2025 is summarized below:

	Six Months Ended June 30,
	2026			2025
	Shares (000s)	Weighted Average Grant Date Fair Value		Shares (000s)	Weighted Average Grant Date Fair Value
Non-vested balance as of December 31	147	$	150.15	122	$	141.62
Granted	62	177.50		54	159.14
Vested	(51)	144.89		(30)	137.83
Forfeited	(5)	154.65		(1)	145.96
Non-vested balance as of June 30	153	$	162.86	145	$	148.91

The Company also has performance share (“PS”) awards, which provide the recipients the right to receive a certain number of shares of the Common Stock in the future, subject to certain performance hurdles, depending on the date of the grant: (1) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years), (2) a relative total shareholder return (“TSR”) market condition where vesting is dependent upon the Company’s TSR performance over the performance period (typically three years) relative to a comparator group consisting of the Russell 2000 index constituents, or (3) an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period (typically three years) and modified based on the Company's TSR performance over the performance period relative to a comparator group consisting of the Russell 2000 index constituents. Expense is measured based on the fair value of the grant at the date of grant. A Monte-Carlo simulation has been used to estimate the fair value using the following assumptions:

	Six Months Ended June 30,
	2026		2025
Dividend yields	—	%	—	%
Expected volatilities	22.8	%	25.5	%
Risk-free interest rates	3.5	%	4.3	%
Initial TSR's	16.0	%	-8.8	%

Non-vested performance share activity for the six months ended June 30, 2026 and 2025 is summarized below:

	Six Months Ended June 30,
	2026			2025
	Shares (000s)	Weighted Average Grant Date Fair Value		Shares (000s)	Weighted Average Grant Date Fair Value
Non-vested balance as of December 31	81	$	160.14	79	$	150.73
Granted	50	173.60		50	147.96
Vested	(35)	148.64		(44)	130.29
Forfeited	—	—		(4)	152.69
Non-vested balance as of June 30	96	$	171.52	81	$	160.14

As of June 30, 2026 and 2025, there were $30,954 and $26,849, respectively, of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the plans. As of June 30, 2026, the unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 1.55 years. The Company estimates that share-based compensation expense for the year ended December 31, 2026 will be $21,291.

Repurchases of Common Stock

On December 9, 2025, the Company's Board of Directors approved a stock repurchase program (the "December 2025 program"), which replaced the previously approved June 1999 program. The December 2025 program authorizes the repurchases of up to and including 4,000,000 shares of the Company's ordinary shares. This stock repurchase program has no expiration date, does not oblige the Company to acquire any particular amount of the Company's ordinary shares, and may be terminated at any time. Since the inception of the December 2025 program, a total of 342,788 shares have been repurchased.

During the six months ended June 30, 2026 and 2025, the Company purchased 273,129 and 237,834 shares, respectively, from open market purchases and from employees in connection with the tax settlement of vested shares and/or exercised stock options, as applicable, under the Company's omnibus incentive plan. These shares were purchased at an average cost of $163.15 and $162.25 per share, respectively. The Company records the applicable excise taxes payable related to repurchases of our common stock as an incremental cost of the shares repurchased and a corresponding liability for the excise tax payable in "Other accrued liabilities" on our condensed consolidated balance sheet. The excise tax payable was $161 and $779 as of June 30, 2026 and December 31, 2025, respectively.

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INVENTORIES

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories, net of reserves at June 30, 2026 and December 31, 2025 consisted of the following:

	June 30, 2026		December 31, 2025
Raw materials	$	52,217	$	41,858
Work in progress	7,018		6,527
Finished goods	102,316		83,064
Total inventories	$	161,551	$	131,449

On a regular basis, the Company evaluates its inventory balances for excess quantities and obsolescence by analyzing demand, inventory on hand, sales levels and other information. Based on these evaluations, inventory balances are reserved, if necessary. The reserve for inventory was $4,451 and $3,414 at June 30, 2026 and December 31, 2025, respectively.

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PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment at June 30, 2026 and December 31, 2025 are summarized as follows:

	June 30, 2026		December 31, 2025
Land	$	12,247	$	12,428
Building	141,513		116,395
Equipment	360,187		340,322
Construction in progress	60,700		95,229
	574,647		564,374
Less: accumulated depreciation	269,945		257,726
Property, plant and equipment, net	$	304,702	$	306,648

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INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

The Company had goodwill in the amount of $808,809 and $816,375 as of June 30, 2026 and December 31, 2025, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.” The decrease in goodwill is due to foreign currency translation adjustments.

Identifiable intangible assets with finite lives at June 30, 2026 and December 31, 2025 are summarized as follows:

	Amortization Period (in years)	Gross Carrying Amount at June 30, 2026		Accumulated Amortization at June 30, 2026		Gross Carrying Amount at December 31, 2025		Accumulated Amortization at December 31, 2025
Customer relationships and lists	10-20	$	366,663	$	242,935	$	370,763	$	237,769
Trademarks and trade names	2-17	51,591		43,823		52,256		43,655
Developed technology	5-12	41,818		24,452		42,385		23,415
Other	2-18	25,532		22,751		25,178		22,454
Other intangible assets with finite lives		$	118,941	$	91,026	$	119,819	$	89,524

Amortization of identifiable intangible assets was $4,301 and $8,700 for the three and six months ended June 30, 2026, respectively, and $4,261 and $8,321 for the three and six months ended June 30, 2025, respectively. Assuming no change in the gross carrying value of identifiable intangible assets, estimated amortization expense is $8,603 for the remainder of 2026, $16,526 for 2027, $16,079 for 2028, $15,667 for 2029, $15,282 for 2030 and $15,164 for 2031. At June 30, 2026 and December 31, 2025, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in "Customer relationships and lists, net" and “Other intangible assets with finite lives, net” on the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the six months ended June 30, 2026 and 2025.

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EQUITY METHOD INVESTMENT

6 Months Ended

Jun. 30, 2026

Equity Method Investments and Joint Ventures [Abstract]

EQUITY METHOD INVESTMENT

EQUITY METHOD INVESTMENT

In January 2014, BCP Ingredients, Inc. ("BCP"), a subsidiary of the Company, and Taminco US Inc. (note: Taminco was subsequently acquired by Eastman Chemical Company) formed a joint venture (66.66% / 33.34% ownership), St. Gabriel CC Company, LLC, to design, develop, and construct an expansion of BCP’s St. Gabriel aqueous choline chloride plant. BCP contributed the St. Gabriel plant, at cost, and all continued expansion and improvements are funded by the owners. The joint venture became operational as of July 1, 2016, at which point, Taminco US Inc. was succeeded by Taminco US LLC. St. Gabriel CC Company, LLC is a Variable Interest Entity (VIE) because the total equity at risk is not sufficient to permit the joint venture to finance its own activities without additional subordinated financial support. Additionally, voting rights (2 votes each) are not proportionate to the owners’ obligation to absorb expected losses or receive the expected residual returns of the joint venture. BCP receives the majority of the production offtake capacity, which may be adjusted from time to time to the extent the owners agree as such, and absorbs operating expenses approximately proportional to the actual percentage of offtake. The joint venture is accounted for under the equity method of accounting since BCP is not the primary beneficiary as BCP does not have the power to direct the activities of the joint venture that most significantly impact its economic performance. BCP recognized a loss of $126 and $250 for the three and six months ended June 30, 2026, respectively, and $123 and $245 for the three and six months ended June 30, 2025, respectively, relating to its portion of the joint venture's expenses in other expense. BCP made capital contributions to the investment totaling $53 and $95 for the three and six months ended June 30, 2026, respectively, and $75 and $105 for the three and six months ended June 30, 2025, respectively. The carrying value of the joint venture at June 30, 2026 and December 31, 2025 was $3,562 and $3,717, respectively, and is recorded in "Other non-current assets" on the condensed consolidated balance sheets.

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REVOLVING LOAN

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

REVOLVING LOAN

REVOLVING LOAN

On July 27, 2022, the Company entered into an Amended and Restated Credit Agreement (the "2022 Credit Agreement") with certain lenders in the form of a senior secured revolving credit facility, due on July 27, 2027. The 2022 Credit Agreement allows for up to $550,000 of borrowing. The loans may be used for working capital, letters of credit, and other corporate purposes and may be drawn upon at the Company’s discretion. As of June 30, 2026 and December 31, 2025, the total balance outstanding on the 2022 Credit Agreement amounted to $152,000 and $164,000, respectively. There are no installment payments required on the revolving loans; they may be voluntarily prepaid in whole or in part without premium or penalty, and all outstanding amounts are due on the maturity date.

Amounts outstanding under the 2022 Credit Agreement are subject to an interest rate equal to a fluctuating rate as defined by the 2022 Credit Agreement plus an applicable rate. The applicable rate is based upon the Company’s consolidated net leverage ratio, as defined in the 2022 Credit Agreement, and the interest rate was 4.75% at June 30, 2026. The Company is also required to pay a commitment fee on the unused portion of the revolving loan, which is based on the Company’s consolidated net leverage ratio as defined in the 2022 Credit Agreement and ranges from 0.150% to 0.225% (0.150% at June 30, 2026). The unused portion of the revolving loan amounted to $398,000 at June 30, 2026. The Company is also required to pay, as applicable, letter of credit fees, administrative agent fees, and other fees to the arrangers and lenders.

Costs associated with the issuance of the revolving loans are capitalized and amortized on a straight-line basis over the term of the 2022 Credit Agreement, which is not materially different than the effective interest method. Capitalized costs net of accumulated amortization were $311 and $455 at June 30, 2026 and December 31, 2025, respectively, and are included in "Other non-current assets" on the condensed consolidated balance sheets. Amortization expense pertaining to these costs totaled $73 and $144 for both the three and six months ended June 30, 2026 and 2025 and are included in "Interest expense, net" in the accompanying condensed consolidated statements of earnings.

The 2022 Credit Agreement contains quarterly covenants requiring the consolidated leverage ratio to be less than a certain maximum ratio and the consolidated interest coverage ratio to exceed a certain minimum ratio. At June 30, 2026, the Company was in compliance with these covenants. Indebtedness under the Company’s loan agreements is secured by assets of the Company.

On July 24, 2026, the Company entered into Amendment No. 1 to the 2022 Credit Agreement (the "Credit Agreement Amendment"). The Credit Agreement Amendment increased the aggregate revolving commitment amount from $550,000 to $650,000, extended the maturity date of the credit facility from July 27, 2027 to July 24, 2031, and made certain other amendments to the facility terms. The Company used initial proceeds from the Credit Agreement Amendment to repay the outstanding balance of $152,000 due in July 2027 under the 2022 Credit Agreement.

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NET EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

NET EARNINGS PER SHARE

NET EARNINGS PER SHARE

The following presents a reconciliation of the net earnings and shares used in calculating basic and diluted net earnings per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net Earnings - Basic and Diluted	$	44,615	$	38,278	$	84,900	$	75,331
Shares (000s)
Weighted Average Common Shares - Basic	31,902		32,354		31,919		32,397
Effect of Dilutive Securities – Stock Options, Restricted Stock, and Performance Shares	298		328		323		347
Weighted Average Common Shares - Diluted	32,200		32,682		32,242		32,744
Net Earnings Per Share - Basic	$	1.40	$	1.18	$	2.66	$	2.33
Net Earnings Per Share - Diluted	$	1.39	$	1.17	$	2.63	$	2.30

The number of anti-dilutive shares were 124,920 and 123,510 for the three and six months ended June 30, 2026, respectively, and 223,890 and 224,070 for the three and six months ended June 30, 2025, respectively. Anti-dilutive shares could potentially dilute basic earnings per share in future periods and therefore, were not included in diluted earnings per share.

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INCOME TAXES

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The Company’s effective tax rate for the three months ended June 30, 2026 and 2025, was 22.8% and 21.9%, respectively. The higher effective tax rate for the quarter was primarily due to lower tax benefits from stock-based compensation. The effective tax rate for the six months ended June 30, 2026 and 2025, was 23.0% and 22.3%, respectively. The higher effective tax rate for the six months ended June 30, 2026 was primarily due to an increase in certain state taxes and lower tax benefits from stock-based compensation.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law in the United States which includes a broad range of tax provision. The Company has assessed that the OBBBA will not have a material impact on its estimated annual effective tax rate in 2026.

The Company files income tax returns in the U.S. and in various states and foreign countries. As of June 30, 2026, in the major jurisdictions where the Company operates, it is generally no longer subject to income tax examinations by tax authorities for years before 2021. The Company had $6,945 and $6,731 of unrecognized tax benefits, which are included in "Other long-term obligations" on the Company’s condensed consolidated balance sheets, as of June 30, 2026 and December 31, 2025, respectively. The Company includes interest expense or income as well as potential penalties on uncertain tax positions as a component of "Income tax expense" in the condensed consolidated statements of earnings. Total accrued interest and penalties related to uncertain tax positions at June 30, 2026 and December 31, 2025 were $2,564 and $2,350, respectively, and are included in "Other long-term obligations" on the Company’s condensed consolidated balance sheets.

The European Union ("EU") member states formally adopted the EU's Pillar Two Directive on December 15, 2022, which was established by the Organization for Economic Co-operation and Development. Pillar Two generally provides for a 15 percent minimum effective tax rate for the jurisdictions where multinational enterprises operate. While the Company does not anticipate that this will have a material impact on its tax provision or effective tax rate, the Company continues to monitor evolving tax legislation in the jurisdictions in which it operates.

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SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

Balchem Corporation reports three reportable segments: Human Nutrition and Health ("HNH"), Animal Nutrition and Health ("ANH"), and Specialty Products ("SP"). Sales and production of products outside of our reportable segments and other minor business activities are included in "Other and Unallocated".

The Company's Chief Operating Decision Maker ("CODM") is the Chief Executive Officer. The CODM receives a profit and loss reporting package which provides segment information including revenue, cost of goods sold, gross margin, total operating expenses, and earnings from operations. The CODM utilizes this monthly profit and loss reporting package to analyze segment performance and appropriately allocate resources.

Pursuant to ASU 2023-07, "Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures", the significant segment information is summarized as follows:

	For the Three Months Ended June 30, 2026
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	176,894		$	64,454		$	40,511		$	2,138		$	283,997
Cost of sales	109,873		(1)	50,087		(1)	17,942		(1)	2,412		(1)	180,314
Gross margin	67,021			14,367			22,569			(274)			103,683
Operating expenses	24,640		(2)	9,140		(3)	9,676		(4)	1,006		(5)	44,462
Earnings from operations	42,381			5,227			12,893			(1,280)			59,221
Other expenses:
Interest expense, net													1,938
Other income, net													(498)
													1,440
Earnings before income tax expense													57,781
Income tax expense													13,166
Net earnings													$	44,615

(1) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(2) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(3) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(4) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(5) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs.

	For the Six Months Ended June 30, 2026
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	348,522		$	126,643		$	75,238		$	4,303		$	554,706
Cost of sales	215,645		(6)	97,287		(6)	32,206		(6)	4,801		(6)	349,939
Gross margin	132,877			29,356			43,032			(498)			204,767
Operating expenses	50,476		(7)	18,437		(8)	18,204		(9)	2,803		(10)	89,920
Earnings from operations	82,401			10,919			24,828			(3,301)			114,847
Other expenses:
Interest expense, net													4,151
Other expense, net													393
													4,544
Earnings before income tax expense													110,303
Income tax expense													25,403
Net earnings													$	84,900

(6) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(7) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(8) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(9) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(10) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

	For the Three Months Ended June 30, 2025
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	160,773		$	56,028		$	37,185		$	1,481		$	255,467
Cost of sales	99,467		(11)	44,486		(11)	16,571		(11)	1,830		(11)	162,354
Gross margin	61,306			11,542			20,614			(349)			93,113
Operating expenses	22,964		(12)	8,028		(13)	9,345		(14)	1,334		(15)	41,671
Earnings from operations	38,342			3,514			11,269			(1,683)			51,442
Other expenses:
Interest expense, net													2,766
Other income, net													(335)
													2,431
Earnings before income tax expense													49,011
Income tax expense													10,733
Net earnings													$	38,278

(11) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(12) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(13) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(14) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(15) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

	For the Six Months Ended June 30, 2025
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	319,230		$	113,305		$	70,460		$	2,991		$	505,986
Cost of sales	198,850		(16)	89,403		(16)	32,557		(16)	3,895		(16)	324,705
Gross margin	120,380			23,902			37,903			(904)			181,281
Operating expenses	44,064		(17)	15,152		(18)	17,049		(19)	2,559		(20)	78,824
Earnings from operations	76,316			8,750			20,854			(3,463)			102,457
Other expenses:
Interest expense, net													5,690
Other income, net													(184)
													5,506
Earnings before income tax expense													96,951
Income tax expense													21,620
Net earnings													$	75,331

(16) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(17) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(18) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(19) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(20) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

Business Segment Assets	June 30, 2026		December 31, 2025
Human Nutrition and Health	$	1,249,206	$	1,243,522
Animal Nutrition and Health	184,755		176,608
Specialty Products	168,224		172,076
Other and Unallocated (21)	84,819		94,046
Total	$	1,687,004	$	1,686,252

(21) Other and Unallocated assets consist of certain cash, capitalized loan issuance costs, other assets, investments, and income taxes, which the Company does not allocate to its individual business segments. It also includes assets associated with a few minor businesses which individually do not meet the quantitative thresholds for separate presentation.

Depreciation/Amortization	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Human Nutrition and Health	$	8,471	$	7,544	$	17,118	$	14,847
Animal Nutrition and Health	1,841		1,829		3,700		3,590
Specialty Products	1,674		1,796		3,429		3,522
Other and Unallocated	234		234		464		458
Total	$	12,220	$	11,403	$	24,711	$	22,417

Capital Expenditures	Six Months Ended June 30,
	2026		2025
Human Nutrition and Health	$	7,939	$	6,026
Animal Nutrition and Health	7,168		4,424
Specialty Products	1,422		1,685
Other and Unallocated	174		107
Total	$	16,703	$	12,242

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REVENUE

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

The following table presents revenues disaggregated by revenue source:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Product Sales Revenue	$	283,363	$	255,041	$	553,579	$	505,102
Royalty Revenue	634		426		1,127		884
Total Revenue	$	283,997	$	255,467	$	554,706	$	505,986

The following table presents revenues disaggregated by geography, based on customers' delivery addresses:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
United States	$	205,193	$	186,706	$	402,575	$	372,428
Foreign Countries	78,804		68,761		152,131		133,558
Total Revenue	$	283,997	$	255,467	$	554,706	$	505,986

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SUPPLEMENTAL CASH FLOW INFORMATION

6 Months Ended

Jun. 30, 2026

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid during the six months ended June 30, 2026 and 2025 for income taxes and interest is as follows:

	Six Months Ended June 30,
	2026		2025
Income taxes	$	29,184	$	26,263
Interest	$	4,342	$	5,903

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

6 Months Ended

Jun. 30, 2026

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The changes in accumulated other comprehensive income (loss) were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net foreign currency translation adjustment (1)	$	(4,534)	$	43,776	$	(14,636)	$	65,498
Net change in postretirement benefit plan (see Note 14 for    further information)
Amortization of gain	(10)		(1)		(21)		(3)
Prior service loss (gain) arising during the period	—		—		411		(319)
Total before tax	(10)		(1)		390		(322)
Tax	4		—		(92)		83
Net of tax	(6)		(1)		298		(239)
Total other comprehensive (loss) income	$	(4,540)	$	43,775	$	(14,338)	$	65,259
(1) Includes losses of $95 and gains of $1,734 on intra-entity foreign currency transactions for the three and six months ended June 30, 2026, respectively, and gains of $2,184 and $5,301 for the three and six months ended June 30, 2025, respectively.

Accumulated other comprehensive income (loss) at June 30, 2026 and December 31, 2025 consisted of the following:

	Foreign currency translation adjustment		Postretirement benefit plan		Total
Balance December 31, 2025	$	41,353	$	194	$	41,547
Other comprehensive (loss) income	(14,636)		298		(14,338)
Balance June 30, 2026	$	26,717	$	492	$	27,209

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EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2026

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

Defined Contribution Plans

The Company sponsors one 401(k) savings plan for eligible employees, which allows participants to make pretax or after tax contributions, and the Company matches certain percentages of those contributions with shares of the Company’s Common Stock. The plan also has a discretionary profit sharing portion. All amounts contributed to the plan are deposited into a trust fund administered by independent trustees. The Company also sponsors various defined contribution plans for employees working in our foreign operations and matches certain employee contributions. These contributions are deposited into trust funds administered by independent trustees.

Postretirement Medical Plans

The Company provides postretirement benefits in the form of two unfunded postretirement medical plans; one that is under a collective bargaining agreement and covers eligible retired employees of the Verona facility and one for officers of the Company pursuant to the Balchem Corporation Officer Retiree Program.

Net periodic benefit costs for such retirement medical plans were as follows:

	Six Months Ended June 30,
	2026		2025
Service cost	$	46	$	58
Interest cost	26		35
Amortization of gain	(27)		(5)
Net periodic benefit cost	$	45	$	88

The amounts recorded for these obligations on the Company’s condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025 are $1,128 and $1,122, respectively, and are included in "Other long-term obligations" on the Company's condensed consolidated balance sheets. These plans are unfunded and approved claims are paid from Company funds. Historical cash payments made under such plans have typically been less than $200 per year.

Defined Benefit Pension Plan

The Company provides an unfunded defined benefit pension plan for employees working in Belgium. The plan provides for the payment of a lump sum at retirement or payments in case of death of the covered employees. The amounts recorded for these obligations on the Company's condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025 were $911 and $869, respectively, and were included in "Other long-term obligations" on the Company's condensed consolidated balance sheets.

Net periodic benefit costs for such benefit pension plan were as follows:

	Six Months Ended June 30,
	2026		2025
Service cost with interest to end of year	$	112	$	107
Interest cost	52		40
Expected return on plan assets	(33)		(29)
Amortization of loss	6		2
Total net periodic benefit cost	$	137	$	120

Deferred Compensation Plan

The Company provides an unfunded, nonqualified deferred compensation plan maintained for the benefit of a select group of management or highly compensated employees. Assets of the plan are held in a rabbi trust, and are subject to additional risk of loss in the event of bankruptcy or insolvency of the Company. The Company may, at its discretion, provide matching contributions to eligible employee deferred compensation contributions, with no obligation to make such contributions in future periods. The deferred compensation liability was $14,095 as of June 30, 2026, of which $14,070 was included in "Other long-term obligations" and $25 was included in "Accrued compensation and other benefits" on the Company's condensed consolidated balance sheets. The deferred compensation liability was $12,806 as of December 31, 2025, of which $12,781 was included in "Other long-term obligations" and $25 was included in "Accrued compensation and other benefits" on the Company’s consolidated balance sheets. The related assets of the irrevocable trust funds (also known as "rabbi trust funds") were $14,084 as of June 30, 2026, of which $14,059 was included in "Other non-current assets" and $25 was included in "Other current assets" on the Company's condensed consolidated balance sheet. The rabbi trust funds were $12,798 as of December 31, 2025, of which $12,773 was included in "Other non-current assets" and $25 was included in "Other current assets" on the Company's condensed consolidated balance sheets.

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COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2026

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

The Company is obligated to make rental payments under non-cancelable operating and finance leases. Aggregate future minimum rental payments required under these leases at December 31, 2025 are disclosed in Note 18, Leases.

The Company’s Verona, Missouri facility, while held by a prior owner, Syntex Agribusiness, Inc. (“Syntex”), was designated by the U.S. Environmental Protection Agency (the "EPA") as a Superfund site and placed on the National Priorities List in 1983 because of dioxin contamination on portions of the site. Remediation was conducted by Syntex under the oversight of the EPA and the Missouri Department of Natural Resources. The Company is indemnified by the sellers under its May 2001 asset purchase agreement covering its acquisition of the Verona, Missouri facility for potential liabilities associated with the Superfund site. One of the sellers, in turn, has the benefit of certain contractual indemnification by Syntex in relation to the implementation of the above-described Superfund remedy. In June 2023, in response to a Special Notice Letter received from the EPA in 2022, BCP Ingredients, Inc. ("BCP"), the Company's subsidiary that owns and operates the site, Syntex, EPA, and the State of Missouri entered into an Administrative Settlement Agreement and Order on Consent (“ASAOC”) for a focused remedial investigation/feasibility study ("RI/FS") under which (a) BCP will conduct a source investigation of potential source(s) of releases of 1,4-dioxane and chlorobenzene at a portion of the site and (b) BCP and Syntex will complete a RI/FS to determine a potential remedy, if any is required. Activities under the ASAOC are underway and are expected to continue for some period of time.

Separately, in June 2022, the EPA conducted an inspection of BCP’s Verona, Missouri facility (“2022 EPA Inspection”) which was followed by BCP entering into an Administrative Order for Compliance on Consent (“AOC”) with the EPA in relation to its risk management program at the Verona facility. Further, in January 2023, BCP entered into an Amended AOC with the EPA whereby the parties agreed to the extension of certain timelines. BCP timely completed all requirements under the Amended AOC. In November 2023, BCP received a notice from the Environment and Natural Resources Division of the U.S Department of Justice (“DOJ”) primarily related to the 2022 EPA Inspection, which extended the opportunity to discuss alleged violations of Sections 112(r)(7) of the Clean Air Act and regulations in 40 C.F.R. Part 68, commonly known as the Risk Management Plan Rule (“RMP Rule”). BCP participated in such discussions during 2024, and in December 2024, BCP reached a settlement with the EPA and DOJ to resolve these alleged violations. Pursuant to the settlement, which was entered into on January 31, 2025, BCP agreed to: (a) pay a $300 civil penalty; (b) complete a new scrubber system project; and (c) spend $350 to implement projects benefiting the surrounding community, such as emergency equipment for the local fire department and two vehicles to be used as mobile health clinics. The amount associated with this settlement was consistent with the amount previously accrued as a loss contingency. BCP has completed most of its obligations under this settlement and will continue to take steps to timely complete any remaining items.

In addition to the above, from time to time, the Company is a party to various legal proceedings, litigation, claims and assessments. While it is not possible to predict the ultimate disposition of each of these matters, management believes that the ultimate outcome of such matters will not have a material effect on the Company's consolidated financial position, results of operations, liquidity or cash flows.

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FAIR VALUE OF FINANCIAL INSTRUMENTS

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company has a number of financial instruments, none of which are held for trading purposes. The Company estimates that the fair value of all financial instruments at June 30, 2026 and December 31, 2025 does not differ materially from the aggregate carrying values of its financial instruments recorded in the accompanying condensed consolidated balance sheets. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is required in interpreting market data to develop the estimates of fair value, and, accordingly, the estimates are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

The following fair value hierarchy is used to classify assets and liabilities and the table below presents the carrying amounts and the estimated fair values of the Company's financial assets and liabilities measured on a recurring basis as defined by ASC 820, "Fair Value Measurement."

•Level 1 - Inputs are quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.

•Level 2 - Inputs include observable inputs other than quoted prices in active markets.

•Level 3 - Inputs are unobservable inputs for which there is little or no market data available.

	Carrying Amount		Fair Value Measurements
			Level 1		Level 2		Level 3
June 30, 2026
Assets:
Money market funds (1)	$	1,517	$	1,517	$	—	$	—
Rabbi trust funds - current (2)	25		25		—		—
Rabbi trust funds - non-current (2)	14,059		14,059		—		—
December 31, 2025
Assets:
Money market funds (1)	$	1,464	$	1,464	$	—	$	—
Rabbi trust funds - current (2)	25		25		—		—
Rabbi trust funds - non-current (2)	12,773		12,773		—		—
(1) Money market funds are categorized as cash equivalents.
(2) Rabbi trust funds - current and Rabbi trust funds - non-current are included in "Other current assets" and "Other non-current assets" on the consolidated balance sheets, respectively.

The Company’s financial instruments also include accounts receivable, accounts payable, and accrued liabilities, which are carried at cost and approximate fair value due to the short-term maturity of these instruments. The carrying value of debt approximates fair value based upon prices of identical or similar instruments in the marketplace, which are considered Level 2 inputs.

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RELATED PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2026

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

The Company provides services under a contractual agreement to St. Gabriel CC Company, LLC. These services include accounting, information technology, quality control, and purchasing services, as well as operation of the St. Gabriel CC Company, LLC plant. The Company also sells raw materials to St. Gabriel CC Company, LLC. These raw materials are used in the production of finished goods that are, in turn, sold by Saint Gabriel CC Company, LLC to the Company for resale to unrelated parties. As such, the sale of these raw materials to St. Gabriel CC Company, LLC in this scenario lacks economic substance and therefore the Company does not include them in net sales within the condensed consolidated statements of earnings.

Payments for the services the Company provided amounted to $1,172 and $2,289 for the three and six months ended June 30, 2026, respectively, and $1,212 and $2,339 for the three and six months ended June 30, 2025, respectively. The raw materials purchased and subsequently sold amounted to $11,501 and $21,452 for the three and six months ended June 30, 2026, respectively, and $10,821 and $20,746 for the three and six months ended June 30, 2025, respectively. These services and raw materials are primarily recorded in cost of goods sold, net of the finished goods received from St. Gabriel CC Company, LLC of $9,103 and $17,148 during the three and six months ended June 30, 2026, respectively, and $8,983 and $16,901 for the three and six months ended June 30, 2025, respectively. At June 30, 2026 and December 31, 2025, the Company had receivables of $4,232 and $4,225, respectively, recorded in accounts receivable from St. Gabriel CC Company, LLC for services rendered and raw materials sold. At June 30, 2026 and December 31, 2025, the Company had payables of $2,888 and $3,369, respectively, recorded in accounts payable for finished goods received from St. Gabriel CC Company, LLC. The Company had payables in the amount of $296 related to non-contractual monies owed to St. Gabriel CC Company, LLC, recorded in accounts payable as of both June 30, 2026 and December 31, 2025.

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LEASES

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

LEASES

LEASES

The Company has both real estate leases and equipment leases. The Company developed four tranches of leases based on lease terms and these tranches reflect the composition of the current lease portfolio. The Company's borrowing history shows that interest rates of a term loan or a line of credit depend on the duration of the loan rather than the nature of the assets purchased by those funds. Based on this understanding, the Company elected to use a portfolio approach to discount rates, applying corporate rates to the tranches of leases based on lease terms. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during the second quarter of 2026: (1) 1-2 years, 4.96% (2) 3-4 years, 5.55% (3) 5-9 years, 5.89% and (4) 10+ years, 6.61%.

Right of use assets and lease liabilities at June 30, 2026 and December 31, 2025 are summarized as follows:

Right of use assets	June 30, 2026		December 31, 2025
Operating leases	$	12,703	$	14,672
Finance leases	1,417		1,520
Total	$	14,120	$	16,192

Lease liabilities - current	June 30, 2026		December 31, 2025
Operating leases	$	3,172	$	3,614
Finance leases	210		205
Total	$	3,382	$	3,819

Lease liabilities - non-current	June 30, 2026		December 31, 2025
Operating leases	$	9,895	$	11,324
Finance leases	1,438		1,544
Total	$	11,333	$	12,868

For the three and six months ended June 30, 2026 and 2025, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions:

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Lease Cost
Operating lease cost	$	1,260		$	1,368		$	2,562		$	2,693
Finance lease cost
Amortization of ROU asset	53			52			105			104
Interest on lease liabilities	21			24			43			48
Total finance lease	74			76			148			152
Total lease cost	$	1,334		$	1,444		$	2,710		$	2,845
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,270		$	1,385		$	2,573		$	2,742
Operating cash flows from finance leases	21			24			43			48
Financing cash flows from finance leases	51			48			102			97
	$	1,342		$	1,457		$	2,718		$	2,887
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed	$	87		$	655		$	220		$	1,857
Weighted-average remaining lease term - operating leases	5.57 years			8.76 years			5.57 years			8.76 years
Weighted-average remaining lease term - finance leases	6.75 years			7.86 years			6.75 years			7.86 years
Weighted-average discount rate - operating leases	7.1		%	7.6		%	7.1		%	7.6		%
Weighted-average discount rate - finance leases	5.1		%	5.1		%	5.1		%	5.1		%

Rent expense charged to operations under operating lease agreements for the three and six months ended June 30, 2026 aggregated to approximately $1,260 and $2,562, respectively, and $1,368 and $2,693 for the three and six months ended June 30, 2025, respectively.

Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2026 are as follows:

Year
July 1, 2026 to December 31, 2026	$	2,405
2027	3,734
2028	2,944
2029	2,521
2030	2,065
2031	1,826
Thereafter	2,539
Total undiscounted lease payments	18,034
Less: Present value adjustment	(3,319)
Present value of lease liabilities	$	14,715

LEASES

LEASES

The Company has both real estate leases and equipment leases. The Company developed four tranches of leases based on lease terms and these tranches reflect the composition of the current lease portfolio. The Company's borrowing history shows that interest rates of a term loan or a line of credit depend on the duration of the loan rather than the nature of the assets purchased by those funds. Based on this understanding, the Company elected to use a portfolio approach to discount rates, applying corporate rates to the tranches of leases based on lease terms. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during the second quarter of 2026: (1) 1-2 years, 4.96% (2) 3-4 years, 5.55% (3) 5-9 years, 5.89% and (4) 10+ years, 6.61%.

Right of use assets and lease liabilities at June 30, 2026 and December 31, 2025 are summarized as follows:

Right of use assets	June 30, 2026		December 31, 2025
Operating leases	$	12,703	$	14,672
Finance leases	1,417		1,520
Total	$	14,120	$	16,192

Lease liabilities - current	June 30, 2026		December 31, 2025
Operating leases	$	3,172	$	3,614
Finance leases	210		205
Total	$	3,382	$	3,819

Lease liabilities - non-current	June 30, 2026		December 31, 2025
Operating leases	$	9,895	$	11,324
Finance leases	1,438		1,544
Total	$	11,333	$	12,868

For the three and six months ended June 30, 2026 and 2025, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions:

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Lease Cost
Operating lease cost	$	1,260		$	1,368		$	2,562		$	2,693
Finance lease cost
Amortization of ROU asset	53			52			105			104
Interest on lease liabilities	21			24			43			48
Total finance lease	74			76			148			152
Total lease cost	$	1,334		$	1,444		$	2,710		$	2,845
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,270		$	1,385		$	2,573		$	2,742
Operating cash flows from finance leases	21			24			43			48
Financing cash flows from finance leases	51			48			102			97
	$	1,342		$	1,457		$	2,718		$	2,887
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed	$	87		$	655		$	220		$	1,857
Weighted-average remaining lease term - operating leases	5.57 years			8.76 years			5.57 years			8.76 years
Weighted-average remaining lease term - finance leases	6.75 years			7.86 years			6.75 years			7.86 years
Weighted-average discount rate - operating leases	7.1		%	7.6		%	7.1		%	7.6		%
Weighted-average discount rate - finance leases	5.1		%	5.1		%	5.1		%	5.1		%

Rent expense charged to operations under operating lease agreements for the three and six months ended June 30, 2026 aggregated to approximately $1,260 and $2,562, respectively, and $1,368 and $2,693 for the three and six months ended June 30, 2025, respectively.

Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2026 are as follows:

Year
July 1, 2026 to December 31, 2026	$	2,405
2027	3,734
2028	2,944
2029	2,521
2030	2,065
2031	1,826
Thereafter	2,539
Total undiscounted lease payments	18,034
Less: Present value adjustment	(3,319)
Present value of lease liabilities	$	14,715

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Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

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CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Policies)

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Accounting

In the opinion of management, the unaudited condensed consolidated financial statements furnished in this Form 10-Q include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP” or “GAAP”) governing interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934 (the "Exchange Act") and therefore do not include some information and notes necessary to conform to annual reporting requirements. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the operating results expected for the full year or any interim period.

Consolidation

In the opinion of management, the unaudited condensed consolidated financial statements furnished in this Form 10-Q include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP” or “GAAP”) governing interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934 (the "Exchange Act") and therefore do not include some information and notes necessary to conform to annual reporting requirements. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the operating results expected for the full year or any interim period.

Reclassifications

Certain reclassifications have been made to prior period amounts to conform with the current period's presentation.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

Recently Issued Accounting Standards

In November 2024, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2024-03, "Income Statement - Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)." The new guidance is intended to enhance transparency and disclosures by requiring public entities to provide disaggregated disclosures of certain categories of expenses on an annual and interim basis. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods beginning after December 15, 2027, with early adoption permitted. While the adoption of ASU 2024-03 is not expected to have an effect on our consolidated financial statements, it is expected to result in incremental disclosures within the notes to our consolidated financial statements.

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STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2026

Stockholders' Equity Note [Abstract]

Schedule of Compensation Cost on Net Earnings

The Company’s results for the three and six months ended June 30, 2026 and 2025 reflected the following stock-based compensation cost, and such compensation cost had the following effects on net earnings:

	Increase/(Decrease) for the				Increase/(Decrease) for the
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of sales	$	647	$	536	$	1,178	$	974
Operating expenses	5,274		5,302		10,099		8,674
Net earnings	(4,580)		(4,577)		(8,700)		(7,506)

Schedule of Assumptions Used in the Valuation of Option Awards

For the six months ended June 30, 2026, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions:

	Six Months Ended June 30,
	2026		2025
Dividend yields	0.5	%	0.6	%
Expected volatilities	23.5	%	26.0	%
Risk-free interest rates	3.8	%	4.5	%
Expected lives	5.2 years		5.2 years

A Monte-Carlo simulation has been used to estimate the fair value using the following assumptions:

	Six Months Ended June 30,
	2026		2025
Dividend yields	—	%	—	%
Expected volatilities	22.8	%	25.5	%
Risk-free interest rates	3.5	%	4.3	%
Initial TSR's	16.0	%	-8.8	%

Schedule of Stock Option Activity

Option activity for the six months ended June 30, 2026 and 2025 is summarized below:

For the Six Months Ended June 30, 2026	Shares (000s)	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2025	900	$	120.48	$	29,888	5.2
Granted	71	178.68
Exercised	(77)	100.34
Forfeited	(1)	143.43
Canceled	(2)	139.31
Outstanding as of June 30, 2026	891	$	126.79	$	38,255	5.3
Exercisable as of June 30, 2026	642	$	115.27	$	34,455	4.3

For the Six Months Ended June 30, 2025	Shares (000s)	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Term
Outstanding as of December 31, 2024	962	$	114.81	$	46,346	5.8
Granted	51	159.18
Exercised	(68)	91.48
Forfeited	—	—
Canceled	—	—
Outstanding as of June 30, 2025	945	$	118.88	$	38,084	5.6
Exercisable as of June 30, 2025	638	$	106.87	$	33,375	4.4

Schedule of Other Information Pertaining to Stock Option Activity

Other information pertaining to option activity during the three and six months ended June 30, 2026 and 2025 is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Weighted-average fair value of options granted	$	—	$	—	$	48.90	$	48.86
Total intrinsic value of stock options exercised ($000s)	$	813	$	3,370	$	5,567	$	4,759

Schedule of Non-vested Restricted Stock Activity

Non-vested restricted stock activity for the six months ended June 30, 2026 and 2025 is summarized below:

	Six Months Ended June 30,
	2026			2025
	Shares (000s)	Weighted Average Grant Date Fair Value		Shares (000s)	Weighted Average Grant Date Fair Value
Non-vested balance as of December 31	147	$	150.15	122	$	141.62
Granted	62	177.50		54	159.14
Vested	(51)	144.89		(30)	137.83
Forfeited	(5)	154.65		(1)	145.96
Non-vested balance as of June 30	153	$	162.86	145	$	148.91

Schedule of Non-vested Performance Share Activity

Non-vested performance share activity for the six months ended June 30, 2026 and 2025 is summarized below:

	Six Months Ended June 30,
	2026			2025
	Shares (000s)	Weighted Average Grant Date Fair Value		Shares (000s)	Weighted Average Grant Date Fair Value
Non-vested balance as of December 31	81	$	160.14	79	$	150.73
Granted	50	173.60		50	147.96
Vested	(35)	148.64		(44)	130.29
Forfeited	—	—		(4)	152.69
Non-vested balance as of June 30	96	$	171.52	81	$	160.14

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INVENTORIES (Tables)

6 Months Ended

Jun. 30, 2026

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories, net of reserves at June 30, 2026 and December 31, 2025 consisted of the following:

	June 30, 2026		December 31, 2025
Raw materials	$	52,217	$	41,858
Work in progress	7,018		6,527
Finished goods	102,316		83,064
Total inventories	$	161,551	$	131,449

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PROPERTY, PLANT AND EQUIPMENT (Tables)

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment at June 30, 2026 and December 31, 2025 are summarized as follows:

	June 30, 2026		December 31, 2025
Land	$	12,247	$	12,428
Building	141,513		116,395
Equipment	360,187		340,322
Construction in progress	60,700		95,229
	574,647		564,374
Less: accumulated depreciation	269,945		257,726
Property, plant and equipment, net	$	304,702	$	306,648

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INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Schedule of Identifiable Intangible Assets

Identifiable intangible assets with finite lives at June 30, 2026 and December 31, 2025 are summarized as follows:

	Amortization Period (in years)	Gross Carrying Amount at June 30, 2026		Accumulated Amortization at June 30, 2026		Gross Carrying Amount at December 31, 2025		Accumulated Amortization at December 31, 2025
Customer relationships and lists	10-20	$	366,663	$	242,935	$	370,763	$	237,769
Trademarks and trade names	2-17	51,591		43,823		52,256		43,655
Developed technology	5-12	41,818		24,452		42,385		23,415
Other	2-18	25,532		22,751		25,178		22,454
Other intangible assets with finite lives		$	118,941	$	91,026	$	119,819	$	89,524

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NET EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Schedule of Reconciliation in Net Earnings and Shares Used in Calculating Basic and Diluted Net Earnings Per Share

The following presents a reconciliation of the net earnings and shares used in calculating basic and diluted net earnings per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net Earnings - Basic and Diluted	$	44,615	$	38,278	$	84,900	$	75,331
Shares (000s)
Weighted Average Common Shares - Basic	31,902		32,354		31,919		32,397
Effect of Dilutive Securities – Stock Options, Restricted Stock, and Performance Shares	298		328		323		347
Weighted Average Common Shares - Diluted	32,200		32,682		32,242		32,744
Net Earnings Per Share - Basic	$	1.40	$	1.18	$	2.66	$	2.33
Net Earnings Per Share - Diluted	$	1.39	$	1.17	$	2.63	$	2.30

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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Significant Segment Information

Pursuant to ASU 2023-07, "Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures", the significant segment information is summarized as follows:

	For the Three Months Ended June 30, 2026
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	176,894		$	64,454		$	40,511		$	2,138		$	283,997
Cost of sales	109,873		(1)	50,087		(1)	17,942		(1)	2,412		(1)	180,314
Gross margin	67,021			14,367			22,569			(274)			103,683
Operating expenses	24,640		(2)	9,140		(3)	9,676		(4)	1,006		(5)	44,462
Earnings from operations	42,381			5,227			12,893			(1,280)			59,221
Other expenses:
Interest expense, net													1,938
Other income, net													(498)
													1,440
Earnings before income tax expense													57,781
Income tax expense													13,166
Net earnings													$	44,615

(1) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(2) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(3) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(4) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(5) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs.

	For the Six Months Ended June 30, 2026
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	348,522		$	126,643		$	75,238		$	4,303		$	554,706
Cost of sales	215,645		(6)	97,287		(6)	32,206		(6)	4,801		(6)	349,939
Gross margin	132,877			29,356			43,032			(498)			204,767
Operating expenses	50,476		(7)	18,437		(8)	18,204		(9)	2,803		(10)	89,920
Earnings from operations	82,401			10,919			24,828			(3,301)			114,847
Other expenses:
Interest expense, net													4,151
Other expense, net													393
													4,544
Earnings before income tax expense													110,303
Income tax expense													25,403
Net earnings													$	84,900

(6) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(7) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(8) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(9) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(10) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

	For the Three Months Ended June 30, 2025
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	160,773		$	56,028		$	37,185		$	1,481		$	255,467
Cost of sales	99,467		(11)	44,486		(11)	16,571		(11)	1,830		(11)	162,354
Gross margin	61,306			11,542			20,614			(349)			93,113
Operating expenses	22,964		(12)	8,028		(13)	9,345		(14)	1,334		(15)	41,671
Earnings from operations	38,342			3,514			11,269			(1,683)			51,442
Other expenses:
Interest expense, net													2,766
Other income, net													(335)
													2,431
Earnings before income tax expense													49,011
Income tax expense													10,733
Net earnings													$	38,278

(11) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(12) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(13) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(14) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(15) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

	For the Six Months Ended June 30, 2025
	HNH			ANH			SP			Other and Unallocated			Total
Net sales	$	319,230		$	113,305		$	70,460		$	2,991		$	505,986
Cost of sales	198,850		(16)	89,403		(16)	32,557		(16)	3,895		(16)	324,705
Gross margin	120,380			23,902			37,903			(904)			181,281
Operating expenses	44,064		(17)	15,152		(18)	17,049		(19)	2,559		(20)	78,824
Earnings from operations	76,316			8,750			20,854			(3,463)			102,457
Other expenses:
Interest expense, net													5,690
Other income, net													(184)
													5,506
Earnings before income tax expense													96,951
Income tax expense													21,620
Net earnings													$	75,331

(16) Cost of sales are primarily comprised of raw materials consumed in the manufacture of product, as well as manufacturing labor, depreciation expense, and other overhead expenses necessary to convert purchased materials and supplies into finished product. Cost of sales also includes inbound freight and duty costs, outbound freight costs for shipping products to customers, warehousing costs, quality control and obsolescence expense.

(17) Operating expenses within HNH are primarily comprised of compensation-related costs, professional services, including advertising and marketing costs, and amortization expense in connection with certain acquired intangible assets.

(18) Operating expenses within ANH are primarily comprised of compensation-related costs and professional services, including advertising and marketing costs.

(19) Operating expenses within SP are primarily comprised of compensation-related costs, professional services, and amortization expense in connection with certain acquired intangible assets.

(20) Operating expenses within Other and Unallocated are primarily comprised of compensation-related costs and transaction and integration costs.

Business Segment Assets	June 30, 2026		December 31, 2025
Human Nutrition and Health	$	1,249,206	$	1,243,522
Animal Nutrition and Health	184,755		176,608
Specialty Products	168,224		172,076
Other and Unallocated (21)	84,819		94,046
Total	$	1,687,004	$	1,686,252

(21) Other and Unallocated assets consist of certain cash, capitalized loan issuance costs, other assets, investments, and income taxes, which the Company does not allocate to its individual business segments. It also includes assets associated with a few minor businesses which individually do not meet the quantitative thresholds for separate presentation.

Depreciation/Amortization	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Human Nutrition and Health	$	8,471	$	7,544	$	17,118	$	14,847
Animal Nutrition and Health	1,841		1,829		3,700		3,590
Specialty Products	1,674		1,796		3,429		3,522
Other and Unallocated	234		234		464		458
Total	$	12,220	$	11,403	$	24,711	$	22,417

Capital Expenditures	Six Months Ended June 30,
	2026		2025
Human Nutrition and Health	$	7,939	$	6,026
Animal Nutrition and Health	7,168		4,424
Specialty Products	1,422		1,685
Other and Unallocated	174		107
Total	$	16,703	$	12,242

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REVENUE (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Revenues Disaggregated by Revenue Source

The following table presents revenues disaggregated by revenue source:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Product Sales Revenue	$	283,363	$	255,041	$	553,579	$	505,102
Royalty Revenue	634		426		1,127		884
Total Revenue	$	283,997	$	255,467	$	554,706	$	505,986

The following table presents revenues disaggregated by geography, based on customers' delivery addresses:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
United States	$	205,193	$	186,706	$	402,575	$	372,428
Foreign Countries	78,804		68,761		152,131		133,558
Total Revenue	$	283,997	$	255,467	$	554,706	$	505,986

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SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

6 Months Ended

Jun. 30, 2026

Supplemental Cash Flow Information [Abstract]

Schedule of Supplemental Cash Flow Information

Cash paid during the six months ended June 30, 2026 and 2025 for income taxes and interest is as follows:

	Six Months Ended June 30,
	2026		2025
Income taxes	$	29,184	$	26,263
Interest	$	4,342	$	5,903

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Jun. 30, 2026

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Loss

The changes in accumulated other comprehensive income (loss) were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net foreign currency translation adjustment (1)	$	(4,534)	$	43,776	$	(14,636)	$	65,498
Net change in postretirement benefit plan (see Note 14 for    further information)
Amortization of gain	(10)		(1)		(21)		(3)
Prior service loss (gain) arising during the period	—		—		411		(319)
Total before tax	(10)		(1)		390		(322)
Tax	4		—		(92)		83
Net of tax	(6)		(1)		298		(239)
Total other comprehensive (loss) income	$	(4,540)	$	43,775	$	(14,338)	$	65,259
(1) Includes losses of $95 and gains of $1,734 on intra-entity foreign currency transactions for the three and six months ended June 30, 2026, respectively, and gains of $2,184 and $5,301 for the three and six months ended June 30, 2025, respectively.

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) at June 30, 2026 and December 31, 2025 consisted of the following:

	Foreign currency translation adjustment		Postretirement benefit plan		Total
Balance December 31, 2025	$	41,353	$	194	$	41,547
Other comprehensive (loss) income	(14,636)		298		(14,338)
Balance June 30, 2026	$	26,717	$	492	$	27,209

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EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Jun. 30, 2026

Retirement Benefits [Abstract]

Schedule of Net Periodic Benefit Cost

Net periodic benefit costs for such retirement medical plans were as follows:

	Six Months Ended June 30,
	2026		2025
Service cost	$	46	$	58
Interest cost	26		35
Amortization of gain	(27)		(5)
Net periodic benefit cost	$	45	$	88

Net periodic benefit costs for such benefit pension plan were as follows:

	Six Months Ended June 30,
	2026		2025
Service cost with interest to end of year	$	112	$	107
Interest cost	52		40
Expected return on plan assets	(33)		(29)
Amortization of loss	6		2
Total net periodic benefit cost	$	137	$	120

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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Carrying Amount and Fair Values of the Company's Financial Assets

The following fair value hierarchy is used to classify assets and liabilities and the table below presents the carrying amounts and the estimated fair values of the Company's financial assets and liabilities measured on a recurring basis as defined by ASC 820, "Fair Value Measurement."

•Level 1 - Inputs are quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.

•Level 2 - Inputs include observable inputs other than quoted prices in active markets.

•Level 3 - Inputs are unobservable inputs for which there is little or no market data available.

	Carrying Amount		Fair Value Measurements
			Level 1		Level 2		Level 3
June 30, 2026
Assets:
Money market funds (1)	$	1,517	$	1,517	$	—	$	—
Rabbi trust funds - current (2)	25		25		—		—
Rabbi trust funds - non-current (2)	14,059		14,059		—		—
December 31, 2025
Assets:
Money market funds (1)	$	1,464	$	1,464	$	—	$	—
Rabbi trust funds - current (2)	25		25		—		—
Rabbi trust funds - non-current (2)	12,773		12,773		—		—
(1) Money market funds are categorized as cash equivalents.
(2) Rabbi trust funds - current and Rabbi trust funds - non-current are included in "Other current assets" and "Other non-current assets" on the consolidated balance sheets, respectively.

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LEASES (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Schedule of Right of Use Assets and Lease Liabilities

Right of use assets and lease liabilities at June 30, 2026 and December 31, 2025 are summarized as follows:

Right of use assets	June 30, 2026		December 31, 2025
Operating leases	$	12,703	$	14,672
Finance leases	1,417		1,520
Total	$	14,120	$	16,192

Lease liabilities - current	June 30, 2026		December 31, 2025
Operating leases	$	3,172	$	3,614
Finance leases	210		205
Total	$	3,382	$	3,819

Lease liabilities - non-current	June 30, 2026		December 31, 2025
Operating leases	$	9,895	$	11,324
Finance leases	1,438		1,544
Total	$	11,333	$	12,868

For the three and six months ended June 30, 2026 and 2025, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions:

	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Lease Cost
Operating lease cost	$	1,260		$	1,368		$	2,562		$	2,693
Finance lease cost
Amortization of ROU asset	53			52			105			104
Interest on lease liabilities	21			24			43			48
Total finance lease	74			76			148			152
Total lease cost	$	1,334		$	1,444		$	2,710		$	2,845
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,270		$	1,385		$	2,573		$	2,742
Operating cash flows from finance leases	21			24			43			48
Financing cash flows from finance leases	51			48			102			97
	$	1,342		$	1,457		$	2,718		$	2,887
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed	$	87		$	655		$	220		$	1,857
Weighted-average remaining lease term - operating leases	5.57 years			8.76 years			5.57 years			8.76 years
Weighted-average remaining lease term - finance leases	6.75 years			7.86 years			6.75 years			7.86 years
Weighted-average discount rate - operating leases	7.1		%	7.6		%	7.1		%	7.6		%
Weighted-average discount rate - finance leases	5.1		%	5.1		%	5.1		%	5.1		%

Schedule of Aggregate Future Minimum Rental Payments Required under Non-Cancelable Finance Leases

Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2026 are as follows:

Year
July 1, 2026 to December 31, 2026	$	2,405
2027	3,734
2028	2,944
2029	2,521
2030	2,065
2031	1,826
Thereafter	2,539
Total undiscounted lease payments	18,034
Less: Present value adjustment	(3,319)
Present value of lease liabilities	$	14,715

Schedule of Aggregate Future Minimum Rental Payments Required under Non-Cancelable Operating Leases

Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2026 are as follows:

Year
July 1, 2026 to December 31, 2026	$	2,405
2027	3,734
2028	2,944
2029	2,521
2030	2,065
2031	1,826
Thereafter	2,539
Total undiscounted lease payments	18,034
Less: Present value adjustment	(3,319)
Present value of lease liabilities	$	14,715

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STOCKHOLDERS' EQUITY - Schedule of Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Net earnings	$ (4,580)	$ (4,577)	$ (8,700)	$ (7,506)
Income Statement Location [Axis]: us-gaap:CostOfRevenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation cost	647	536	1,178	974
Income Statement Location [Axis]: us-gaap:OperatingExpenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation cost	$ 5,274	$ 5,302	$ 10,099	$ 8,674

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STOCKHOLDERS' EQUITY - Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future awards (in shares)	505,548
Unrecognized compensation cost	$ 30,954	$ 26,849
Period for unrecognized compensation cost to be recognized over	1 year 6 months 18 days
Estimated share-based compensation expense	$ 21,291
Performance Shares | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

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STOCKHOLDERS' EQUITY - Schedule of Assumptions Used in the Valuation of Option Awards (Details)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	0.50%	0.60%
Expected volatilities	23.50%	26.00%
Risk-free interest rates	3.80%	4.50%
Expected lives	5 years 2 months 12 days	5 years 2 months 12 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yields	0.00%	0.00%
Expected volatilities	22.80%	25.50%
Risk-free interest rates	3.50%	4.30%
Initial TSR's	16.00%	(8.80%)

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STOCKHOLDERS' EQUITY - Schedule of Stock Options / Other Information Pertaining to Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)			900	962	962
Granted (in shares)			71	51
Exercised (in shares)			(77)	(68)
Forfeited (in shares)			(1)	0
Canceled (in shares)			(2)	0
Outstanding at end of period (in shares)	891	945	891	945	900	962
Exercisable at end of period (in shares)	642	638	642	638
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)			$ 120.48	$ 114.81	$ 114.81
Granted (in dollars per share)			178.68	159.18
Exercised (in dollars per share)			100.34	91.48
Forfeited (in dollars per share)			143.43	0
Canceled (in dollars per share)			139.31	0
Outstanding at end of period (in dollars per share)	$ 126.79	$ 118.88	126.79	118.88	$ 120.48	$ 114.81
Exercisable at end of period (in dollars per share)	$ 115.27	$ 106.87	$ 115.27	$ 106.87
Aggregate intrinsic value, outstanding, beginning of period			$ 29,888	$ 46,346	$ 46,346
Aggregate intrinsic value, outstanding, end of period	$ 38,255	$ 38,084	38,255	38,084	$ 29,888	$ 46,346
Aggregate intrinsic value, exercisable, end of period	$ 34,455	$ 33,375	$ 34,455	$ 33,375
Weighted average remaining contractual term, outstanding			5 years 3 months 18 days	5 years 7 months 6 days	5 years 2 months 12 days	5 years 9 months 18 days
Weighted average remaining contractual term, exercisable			4 years 3 months 18 days	4 years 4 months 24 days
Weighted-average fair value of options granted (in dollars per share)	$ 0	$ 0	$ 48.90	$ 48.86
Total intrinsic value of stock options exercised	$ 813	$ 3,370	$ 5,567	$ 4,759

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STOCKHOLDERS' EQUITY - Schedule of Restricted Stock and Performance Share (Details) - $ / shares shares in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Restricted stock
Shares
Non-vested balance as of beginning of period (in shares)	147	122
Granted (in shares)	62	54
Vested (in shares)	(51)	(30)
Forfeited (in shares)	(5)	(1)
Non-vested balance as of end of period (in shares)	153	145
Weighted Average Grant Date Fair Value
Non-vested balance as of beginning of period (in dollars per share)	$ 150.15	$ 141.62
Granted (in dollars per share)	177.50	159.14
Vested (in dollars per share)	144.89	137.83
Forfeited (in dollars per share)	154.65	145.96
Non-vested balance as of end of period (in dollars per share)	$ 162.86	$ 148.91
Performance Shares
Shares
Non-vested balance as of beginning of period (in shares)	81	79
Granted (in shares)	50	50
Vested (in shares)	(35)	(44)
Forfeited (in shares)	0	(4)
Non-vested balance as of end of period (in shares)	96	81
Weighted Average Grant Date Fair Value
Non-vested balance as of beginning of period (in dollars per share)	$ 160.14	$ 150.73
Granted (in dollars per share)	173.60	147.96
Vested (in dollars per share)	148.64	130.29
Forfeited (in dollars per share)	0	152.69
Non-vested balance as of end of period (in dollars per share)	$ 171.52	$ 160.14

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STOCKHOLDERS' EQUITY - Repurchases of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Dec. 09, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Stockholders' Equity Note [Abstract]
Number of shares authorized to be repurchased (in shares)	4,000,000
Aggregate number of shares repurchased since inception (in shares)	342,788
Number of shares acquired under the stock repurchase plan and subsequently reissued (in shares)		273,129	237,834
Shares repurchased, average cost (in dollars per share)		$ 163.15	$ 162.25
Excise taxes payable		$ 161		$ 779

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INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Inventory Disclosure [Abstract]
Raw materials	$ 52,217	$ 41,858
Work in progress	7,018	6,527
Finished goods	102,316	83,064
Total inventories	161,551	131,449
Inventory reserves	$ 4,451	$ 3,414

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PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 574,647	$ 564,374
Less: accumulated depreciation	269,945	257,726
Property, plant and equipment, net	304,702	306,648
Land
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	12,247	12,428
Building
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	141,513	116,395
Equipment
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	360,187	340,322
Construction in progress
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 60,700	$ 95,229

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INTANGIBLE ASSETS - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]
Goodwill	$ 808,809,000		$ 808,809,000		$ 816,375,000
Amortization of identifiable intangible assets	4,301,000	$ 4,261,000	8,700,000	$ 8,321,000
Intangible Asset, Finite-Lived, after Accumulated Amortization, Estimated Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2026	8,603,000		8,603,000
2027	16,526,000		16,526,000
2028	16,079,000		16,079,000
2029	15,667,000		15,667,000
2030	15,282,000		15,282,000
2031	15,164,000		15,164,000
Identifiable intangible assets with indefinite useful lives	$ 0		$ 0		$ 0

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INTANGIBLE ASSETS - Schedule of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Customer relationships and lists
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 366,663	$ 370,763
Accumulated Amortization	$ 242,935	237,769
Customer relationships and lists | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	10 years
Customer relationships and lists | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	20 years
Other intangible assets with finite lives
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 118,941	119,819
Accumulated Amortization	91,026	89,524
Trademarks and trade names
Identifiable intangible assets [Abstract]
Gross Carrying Amount	51,591	52,256
Accumulated Amortization	$ 43,823	43,655
Trademarks and trade names | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	2 years
Trademarks and trade names | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	17 years
Developed technology
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 41,818	42,385
Accumulated Amortization	$ 24,452	23,415
Developed technology | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	5 years
Developed technology | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	12 years
Other
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 25,532	25,178
Accumulated Amortization	$ 22,751	$ 22,454
Other | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	2 years
Other | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	18 years

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EQUITY METHOD INVESTMENT (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($) vote	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)	Jan. 31, 2014
Equity Method Investment, Summarized Financial Information [Abstract]
Number of votes | vote			2
St. Gabriel CC Company, LLC
Equity Method Investment, Summarized Financial Information [Abstract]
Ownership percentage in joint venture						66.66%
Loss relating to joint venture's expenses	$ 126	$ 123	$ 250	$ 245
Capital contributions	53	$ 75	95	$ 105
Carrying value of joint venture	$ 3,562		$ 3,562		$ 3,717
St. Gabriel CC Company, LLC | Eastman Chemical Company
Equity Method Investment, Summarized Financial Information [Abstract]
Ownership percentage in joint venture						33.34%

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REVOLVING LOAN (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Jul. 24, 2026	Jul. 23, 2026	Dec. 31, 2025	Jul. 27, 2022
Debt Instrument [Line Items]
Capitalized costs net of accumulated amortization	$ 311,000		$ 311,000				$ 455,000
Amortization expense pertaining to capitalized costs	$ 73,000	$ 73,000	$ 144,000	$ 144,000
Revolving Credit Agreement
Debt Instrument [Line Items]
Interest rate	4.75%		4.75%
Commitment fee percentage			0.15%
Unused portion of revolving loan	$ 398,000,000		$ 398,000,000
Revolving Credit Agreement | Minimum
Debt Instrument [Line Items]
Commitment fee percentage			0.15%
Revolving Credit Agreement | Maximum
Debt Instrument [Line Items]
Commitment fee percentage			0.225%
Revolving Credit Agreement | Revolving
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 550,000,000
Outstanding balance	$ 152,000,000		$ 152,000,000				$ 164,000,000
Installment payments required			$ 0
Revolving Credit Agreement | Revolving | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 650,000	$ 550,000
Outstanding balance					$ 152,000

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NET EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings Per Share [Abstract]
Net Earnings - Basic and Diluted	$ 44,615	$ 40,285	$ 38,278	$ 37,053	$ 84,900	$ 75,331
Weighted Average Common Shares - Basic (in shares)	31,902,000		32,354,000		31,919,000	32,397,000
Effect of Dilutive Securities - Stock Options, Restricted Stock, and Performance Shares (in shares)	298,000		328,000		323,000	347,000
Weighted Average Common Shares - Diluted (in shares)	32,200,000		32,682,000		32,242,000	32,744,000
Net Earnings Per Share - Basic (in dollars per share)	$ 1.40		$ 1.18		$ 2.66	$ 2.33
Net Earnings Per Share - Diluted (in dollars per share)	$ 1.39		$ 1.17		$ 2.63	$ 2.30
Anti-dilutive shares (in shares)	124,920		223,890		123,510	224,070

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INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Income Tax Disclosure [Abstract]
Effective tax rate	22.80%	21.90%	23.00%	22.30%
Unrecognized tax benefits	$ 6,945		$ 6,945		$ 6,731
Accrued interest and penalties related to unrecognized tax benefits	$ 2,564		$ 2,564		$ 2,350

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SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
	Jun. 30, 2026 segment
Segment Reporting [Abstract]
Reportable segments	3

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SEGMENT INFORMATION - Business Segment Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Net sales	$ 283,997		$ 255,467		$ 554,706	$ 505,986
Cost of sales	180,314		162,354		349,939	324,705
Gross margin	103,683		93,113		204,767	181,281
Operating expenses	44,462		41,671		89,920	78,824
Earnings from operations	59,221		51,442		114,847	102,457
Interest expense, net	1,938		2,766		4,151	5,690
Other (income) expense, net	(498)		(335)		393	(184)
Other expenses	1,440		2,431		4,544	5,506
Earnings before income tax expense	57,781		49,011		110,303	96,951
Income tax expense	13,166		10,733		25,403	21,620
Net earnings	44,615	$ 40,285	38,278	$ 37,053	84,900	75,331
Operating Segments | HNH
Segment Reporting [Line Items]
Net sales	176,894		160,773		348,522	319,230
Cost of sales	109,873		99,467		215,645	198,850
Gross margin	67,021		61,306		132,877	120,380
Operating expenses	24,640		22,964		50,476	44,064
Earnings from operations	42,381		38,342		82,401	76,316
Operating Segments | ANH
Segment Reporting [Line Items]
Net sales	64,454		56,028		126,643	113,305
Cost of sales	50,087		44,486		97,287	89,403
Gross margin	14,367		11,542		29,356	23,902
Operating expenses	9,140		8,028		18,437	15,152
Earnings from operations	5,227		3,514		10,919	8,750
Operating Segments | SP
Segment Reporting [Line Items]
Net sales	40,511		37,185		75,238	70,460
Cost of sales	17,942		16,571		32,206	32,557
Gross margin	22,569		20,614		43,032	37,903
Operating expenses	9,676		9,345		18,204	17,049
Earnings from operations	12,893		11,269		24,828	20,854
Other and Unallocated
Segment Reporting [Line Items]
Net sales	2,138		1,481		4,303	2,991
Cost of sales	2,412		1,830		4,801	3,895
Gross margin	(274)		(349)		(498)	(904)
Operating expenses	1,006		1,334		2,803	2,559
Earnings from operations	$ (1,280)		$ (1,683)		$ (3,301)	$ (3,463)

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SEGMENT INFORMATION - Schedule of Business Segment Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Segment Reporting [Line Items]
Assets	$ 1,687,004	$ 1,686,252
Operating Segments | Human Nutrition and Health
Segment Reporting [Line Items]
Assets	1,249,206	1,243,522
Operating Segments | Animal Nutrition and Health
Segment Reporting [Line Items]
Assets	184,755	176,608
Operating Segments | Specialty Products
Segment Reporting [Line Items]
Assets	168,224	172,076
Other and Unallocated
Segment Reporting [Line Items]
Assets	$ 84,819	$ 94,046

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SEGMENT INFORMATION - Schedule of Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Depreciation and amortization	$ 12,220	$ 11,403	$ 24,711	$ 22,417
Operating Segments | Human Nutrition and Health
Segment Reporting [Line Items]
Depreciation and amortization	8,471	7,544	17,118	14,847
Operating Segments | Animal Nutrition and Health
Segment Reporting [Line Items]
Depreciation and amortization	1,841	1,829	3,700	3,590
Operating Segments | Specialty Products
Segment Reporting [Line Items]
Depreciation and amortization	1,674	1,796	3,429	3,522
Other and Unallocated
Segment Reporting [Line Items]
Depreciation and amortization	$ 234	$ 234	$ 464	$ 458

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SEGMENT INFORMATION - Schedule of Capital Expenditures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Line Items]
Capital expenditures	$ 16,703	$ 12,242
Operating Segments | Human Nutrition and Health
Segment Reporting [Line Items]
Capital expenditures	7,939	6,026
Operating Segments | Animal Nutrition and Health
Segment Reporting [Line Items]
Capital expenditures	7,168	4,424
Operating Segments | Specialty Products
Segment Reporting [Line Items]
Capital expenditures	1,422	1,685
Other and Unallocated
Segment Reporting [Line Items]
Capital expenditures	$ 174	$ 107

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REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Total Revenue	$ 283,997	$ 255,467	$ 554,706	$ 505,986
United States
Disaggregation of Revenue [Line Items]
Total Revenue	205,193	186,706	402,575	372,428
Foreign Countries
Disaggregation of Revenue [Line Items]
Total Revenue	78,804	68,761	152,131	133,558
Product Sales Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	283,363	255,041	553,579	505,102
Royalty Revenue
Disaggregation of Revenue [Line Items]
Total Revenue	$ 634	$ 426	$ 1,127	$ 884

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SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Supplemental Cash Flow Information [Abstract]
Income taxes	$ 29,184	$ 26,263
Interest	$ 4,342	$ 5,903

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net foreign currency translation adjustment	$ (4,534)		$ 43,776		$ (14,636)	$ 65,498
Net change in postretirement benefit plan (see Note 14 for further information)
Amortization of gain	(10)		(1)		(21)	(3)
Prior service loss (gain) arising during the period	0		0		411	(319)
Total before tax	(10)		(1)		390	(322)
Tax	4		0		(92)	83
Net of tax	(6)		(1)		298	(239)
Other comprehensive (loss) income	(4,540)	$ (9,798)	43,775	$ 21,484	(14,338)	65,259
Gains (losses) on intra-entity foreign currency transactions	$ (95)		$ 2,184		$ 1,734	$ 5,301

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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,285,116	$ 1,257,413	$ 1,208,701	$ 1,149,913	$ 1,257,413	$ 1,149,913
Other comprehensive (loss) income	(4,540)	(9,798)	43,775	21,484	(14,338)	65,259
Ending balance	1,302,378	1,285,116	1,267,913	1,208,701	1,302,378	1,267,913
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	31,749	41,547	(2,263)	(23,747)	41,547	(23,747)
Other comprehensive (loss) income	(4,540)	(9,798)	43,775	21,484
Ending balance	27,209	31,749	$ 41,512	$ (2,263)	27,209	$ 41,512
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		41,353			41,353
Other comprehensive (loss) income					(14,636)
Ending balance	26,717				26,717
Postretirement benefit plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 194			194
Other comprehensive (loss) income					298
Ending balance	$ 492				$ 492

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EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($) plan	Dec. 31, 2025 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of savings plans | plan	1
Number of defined benefit plans | plan	2
Deferred compensation liability	$ 14,095	$ 12,806
Noncurrent deferred compensation liability	14,070	12,781
Current deferred compensation liability	25	25
Irrevocable trust funds	14,084	12,798
Rabbi trust funds - non-current	14,059	12,773
Rabbi trust funds - current	25	25
Postretirement Medical Plans
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	1,128	1,122
Historical cash payments for retirement medical plan claims per year (less than)	200
Defined Benefit Pension Plans | Chemogas Defined Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	$ 911	$ 869

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EMPLOYEE BENEFIT PLANS - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Postretirement Medical Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 46	$ 58
Interest cost	26	35
Amortization of gain (loss)	(27)	(5)
Net periodic benefit cost	45	88
Defined Benefit Pension Plans | Chemogas Defined Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	112	107
Interest cost	52	40
Amortization of gain (loss)	6	2
Expected return on plan assets	(33)	(29)
Net periodic benefit cost	$ 137	$ 120

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COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Jan. 31, 2025 USD ($) vehicle
EPA Civil penalty
Gain Contingencies [Line Items]
Payment for civil penalty and project benefits	$ 300
EPA Community spending
Gain Contingencies [Line Items]
Payment for civil penalty and project benefits	$ 350
Number of vehicles | vehicle	2

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FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets:
Rabbi trust funds - current	$ 25	$ 25
Rabbi trust funds - non-current	14,059	12,773
Money market funds
Assets:
Current assets	1,517	1,464
Level 1
Assets:
Rabbi trust funds - current	25	25
Rabbi trust funds - non-current	14,059	12,773
Level 1 | Money market funds
Assets:
Current assets	1,517	1,464
Level 2
Assets:
Rabbi trust funds - current	0	0
Rabbi trust funds - non-current	0	0
Level 2 | Money market funds
Assets:
Current assets	0	0
Level 3
Assets:
Rabbi trust funds - current	0	0
Rabbi trust funds - non-current	0	0
Level 3 | Money market funds
Assets:
Current assets	$ 0	$ 0

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RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Related Party Transaction [Line Items]
Cost of sales	$ 180,314	$ 162,354	$ 349,939	$ 324,705
Receivables to related parties	148,973		148,973		$ 143,596
Payables	70,451		70,451		60,425
St. Gabriel CC Company, LLC
Related Party Transaction [Line Items]
Cost of sales	9,103	8,983	17,148	16,901
Receivables to related parties	4,232		4,232		4,225
Payables to related parties	2,888		2,888		3,369
St. Gabriel CC Company, LLC | Non-contractual Monies Owed
Related Party Transaction [Line Items]
Payables	296		296		$ 296
St. Gabriel CC Company, LLC | Services provided
Related Party Transaction [Line Items]
Cost of sales	1,172	1,212	2,289	2,339
St. Gabriel CC Company, LLC | Raw materials sold
Related Party Transaction [Line Items]
Cost of sales	$ 11,501	$ 10,821	$ 21,452	$ 20,746

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LEASES - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($) tranche	Jun. 30, 2025 USD ($)
Lessee, Lease, Description [Line Items]
Number of tranches | tranche			4
Rent expense charged to operations under lease agreements | $	$ 1,260	$ 1,368	$ 2,562	$ 2,693
Years 1 and 2
Lessee, Lease, Description [Line Items]
Discount rate	4.96%		4.96%
Years 1 and 2 | Minimum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	1 year		1 year
Years 1 and 2 | Maximum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	2 years		2 years
Years 3 and 4
Lessee, Lease, Description [Line Items]
Discount rate	5.55%		5.55%
Years 3 and 4 | Minimum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	3 years		3 years
Years 3 and 4 | Maximum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	4 years		4 years
Years 5 and 9
Lessee, Lease, Description [Line Items]
Discount rate	5.89%		5.89%
Years 5 and 9 | Minimum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	5 years		5 years
Years 5 and 9 | Maximum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	9 years		9 years
Years more than 10
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	10 years		10 years
Discount rate	6.61%		6.61%

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LEASES - Schedule of Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Right of use assets
Operating leases	$ 12,703	$ 14,672
Finance leases	1,417	1,520
Total	14,120	16,192
Operating leases liabilities - current	3,172	3,614
Finance lease liabilities - current	210	205
Total	3,382	3,819
Operating leases liabilities - non-current	9,895	11,324
Finance lease liabilities - non-current	1,438	1,544
Total	$ 11,333	$ 12,868

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LEASES - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Lease Cost
Operating lease cost	$ 1,260	$ 1,368	$ 2,562	$ 2,693
Amortization of ROU asset	53	52	105	104
Interest on lease liabilities	21	24	43	48
Total finance lease	74	76	148	152
Total lease cost	1,334	1,444	2,710	2,845
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	1,270	1,385	2,573	2,742
Operating cash flows from finance leases	21	24	43	48
Financing cash flows from finance leases	51	48	102	97
Cash flows from operating and finance leases	1,342	1,457	2,718	2,887
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed	$ 87	$ 655	$ 220	$ 1,857
Weighted-average remaining lease term - operating leases	5 years 6 months 25 days	8 years 9 months 3 days	5 years 6 months 25 days	8 years 9 months 3 days
Weighted-average remaining lease term - finance leases	6 years 9 months	7 years 10 months 9 days	6 years 9 months	7 years 10 months 9 days
Weighted-average discount rate - operating leases	7.10%	7.60%	7.10%	7.60%
Weighted-average discount rate - finance leases	5.10%	5.10%	5.10%	5.10%

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LEASES - Schedule of Aggregate Future Minimum Rental Payments Required under Non-Cancelable Operating Leases (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Operating And Finance Lease, Liability, To Be Paid [Abstract]
July 1, 2026 to December 31, 2026	$ 2,405
2027	3,734
2028	2,944
2029	2,521
2030	2,065
2031	1,826
Thereafter	2,539
Total undiscounted lease payments	18,034
Less: Present value adjustment	(3,319)
Present value of lease liabilities	$ 14,715