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NEWS Contact : Shane W. Hostetter Senior Vice President and Chief Financial Officer investor@quakerhoughton.com T. 1.610.832.4000 For Release : Immediate QUAKER HOUGHTON ANNOUNCES THIRD QUARTER 2021 RESULTS Record net sales of $ 449.1 million increased 22 % compared to the third quarter of 2020 Reported net income of $ 31.1 million , earnings per diluted share of $ 1.73 and non - GAAP net income of $ 29.4 million ● Non - GAAP earnings per diluted share of $ 1.63 increased 5 % compared to the third quarter of 2020 Adjusted EBITDA of $ 66.2 million increased 3 % compared to the third quarter of 2020 resulting in record trailing twelve month adjusted EBITDA of $ 279 million • $ 13 million invested in three acquisitions estimated to add $ 2 million of full year adjusted EBITDA in 2022 November 4 , 2021 ● CONSHOHOCKEN , PA - Quaker Houghton ( " the Company " ) ( NYSE : KWR ) , the global leader in industrial process fluids , today announced its third quarter of 2021 results . ( $ in millions , except per share data ) Net sales Net income ( loss ) attributable to Quaker Chemical Corporation Earnings ( loss ) per diluted share attributable to Quaker Chemical Corporation Non - GAAP net income * $ Three Months Ended September 30 , 2021 449.1 $ 31.1 2020 367.2 Quaker Houghton . Forward Together ™ 27.3 1.53 27.7 1.56 63.9 $ Nine Months Ended September 30 , 2021 2020 1,314.1 $ 1,031.8 103.2 5.76 99.8 5.56 213.4 ( 8.8 ) 1.73 29.4 Non - GAAP earnings per diluted share * 1.63 Adjusted EBITDA * 66.2 * Refer to the Non - GAAP Measures and Reconciliations section below for additional information Third Quarter of 2021 Consolidated Results Third quarter of 2021 net sales of $ 449.1 million increased 22 % compared to $ 367.2 million in the prior year quarter primarily due to higher sales volumes of approximately 10 % , which includes additional net sales from acquisitions of 4 % , increases from selling price and product mix of 10 % and the positive impact from foreign currency translation of 2 % . The increase in organic sales volumes , which excludes the benefits of recent acquisitions , compared to the third quarter of 2020 was primarily driven by the Company's continued market share gains as well as the continued gradual improvement in end market conditions as it relates to the impacts of COVID 19. The increase in selling price and product mix is primarily the result of the Company's price increases implemented in 2021 to help offset the unprecedented increases in raw material costs the Company has experienced throughout 2021 . ( 0.50 ) 55.9 3.15 156.5 The Company had net income in the third quarter of 2021 of $ 31.1 million or $ 1.73 per diluted share , compared to third quarter of 2020 net income of $ 27.3 million or $ 1.53 per diluted share . Excluding costs associated with the combination with Houghton International , Inc. ( the " Combination " ) and other non - core or non - recurring items in each period , the Company's third quarter of 2021 non - GAAP earnings per diluted share was $ 1.63 compared to $ 1.56 in the prior year third quarter . The Company's current quarter adjusted EBITDA of $ 66.2 million increased 3 % compared to $ 63.9 million in the third quarter of 2020 primarily due to the increase in net sales , higher realized