Welcome to our dedicated page for Stepan Co. news (Ticker: SCL), a resource for investors and traders seeking the latest updates and insights on Stepan Co. stock.
Stepan Company (NYSE: SCL) is a key player in the global chemical industry, specializing in the manufacture of specialty and intermediate chemicals used across various sectors. Founded in 1932 and headquartered in Northbrook, Illinois, Stepan has a robust global presence, with modern production facilities spanning North and South America, Europe, and Asia.
Core Business Segments:
- Surfactants: This segment generates the majority of Stepan's revenue. Surfactants are essential in a wide array of consumer and industrial products such as detergents, shampoos, body wash, fabric softeners, toothpastes, and other personal-care items. They also play a significant role in agricultural and oilfield solutions.
- Polymers: Stepan's polymers segment supplies polyurethane used in rigid foam for thermal insulation and phthalic anhydride, vital for producing plastic components in the construction, automotive, and boating industries.
- Specialty Products: This segment includes chemicals used in food and flavoring, adding to the diverse applications of Stepan's products.
Recent Achievements and Projects:
In recent years, Stepan has continued to expand its capabilities and market reach. Notably, the company is advancing its new alkoxylation facility in Pasadena, Texas, set to start operations by mid-2024. This facility will enhance Stepan's production capacity and capability to meet new regulatory limits on 1,4 dioxane, a move aligned with the company's sustainability goals.
Financial Condition and Performance:
Stepan has demonstrated resilience despite market challenges. The company's second quarter of 2023 saw a decrease in net sales by 23% year-over-year, reflecting a 19% drop in global sales volume. However, proactive measures such as headcount and discretionary expense controls have helped mitigate some financial impacts. The company maintained a strong focus on cost control and cash management, with significant progress in reducing inventory levels and advancing key projects.
Commitment to Sustainability:
Stepan is committed to creating a cleaner, healthier, and more energy-efficient world through innovative chemical solutions. The company’s sustainability program is robust, reflecting its dedication to responsibility, integrity, and innovation. More information on this can be found on the sustainability page of their website.
Employee and Corporate Culture:
Stepan prides itself on its diverse and talented workforce. The company fosters an environment of innovation, teamwork, and quality, providing ongoing development and advancement opportunities across its global operations. This culture is instrumental in driving Stepan's success and maintaining its competitive edge.
For more details, visit Stepan Company online at www.stepan.com.
Stepan Company (NYSE: SCL) reported Q3 2024 results with net income of $23.6M, up 88% versus prior year. Adjusted net income was $23.7M, up 61%, driven by higher margins and lower tax rates. EBITDA reached $53.0M and Adjusted EBITDA was $53.1M, up 18% and 11% respectively. Global sales volume declined 1% year-over-year, with Surfactants showing growth while Polymers experienced weakness. The company achieved $13.3M in pre-tax cost savings and remains on track for its $50M cost reduction goal in 2024.
Stepan Company (NYSE: SCL) has announced a $0.01 per share increase (2.7%) in its quarterly cash dividend, raising it to $0.385 per share. The dividend will be paid on December 13, 2024, to stockholders of record as of November 29, 2024. This marks the company's 57th consecutive year of dividend increases. Stepan is a major manufacturer of specialty and intermediate chemicals, focusing on surfactants for cleaning products, agricultural solutions, and polyurethane polyols for thermal insulation and CASE industries.
Stepan Company (NYSE: SCL) has appointed Luis E. Rojo as President and Chief Executive Officer and Board member, effective immediately. Rojo, who previously served as Vice President and CFO since April 2018, replaces Scott R. Behrens after his 31-year career with the company. Samuel S. Hinrichsen, currently Global Director of Finance, will serve as Vice President and Interim CFO while the company conducts a search for a permanent replacement.
Rojo brings 21 years of experience from Procter & Gamble Co. with expertise in finance, strategic planning, and operational management. The company emphasizes this appointment reflects its commitment to driving long-term strategic value for shareholders through profitable growth and operational excellence.
Stepan Company (NYSE: SCL) has announced that it will release its third quarter 2024 earnings results on Wednesday, October 30, 2024 at approximately 7:00 a.m. ET. The company will also host a conference call at 9:00 a.m. ET on the same day to discuss and answer questions about its financial and operational performance. The call will be led by Scott R. Behrens, President and CEO, and Luis E. Rojo, VP and CFO.
Participants can access the call via phone by registering through a provided link or through a webcast on the company's website. Stepan Company is a major manufacturer of specialty and intermediate chemicals, focusing on surfactants, polyurethane polyols, and solutions for various industries including cleaning, agriculture, thermal insulation, and CASE (Coatings, Adhesives, Sealants, and Elastomers).
Stepan Company (NYSE: SCL) has declared a quarterly cash dividend of $0.375 per share on its common stock, payable on September 13, 2024, to stockholders of record as of August 30, 2024. This declaration marks the 56th consecutive year of dividend increases for the company, following a $0.010 per share increase in the fourth quarter of 2023.
Stepan is a major manufacturer of specialty and intermediate chemicals, focusing on surfactants for cleaning and agricultural products, polyurethane polyols for thermal insulation, and materials for the CASE industries. The company operates production facilities across North and South America, Europe, and Asia.
Stepan Company (NYSE: SCL) reported Q2 2024 results with net income of $9.5 million, down 25% year-over-year. Adjusted net income was $9.4 million, down 22%. EBITDA increased 3% to $47.9 million and adjusted EBITDA rose 4% to $47.7 million. Global sales volume grew 4% but net sales decreased 4% to $556.4 million due to lower selling prices.
Key factors impacting results included $18.9 million in higher costs related to a flood event, new plant pre-commissioning, and a fraud incident. Surfactant sales volume rose 5% and Polymer volume increased 2%. The company is on track to deliver $50 million in cost savings for 2024.
For the outlook, management expects second half EBITDA to improve versus prior year based on continued volume growth and reduced operational expenses. Full year adjusted EBITDA growth and positive free cash flow are anticipated.
Stepan Company (NYSE: SCL) will release its second quarter 2024 earnings on July 31, 2024, at 7:00 a.m. ET. A follow-up conference call will be held at 9:00 a.m. ET, hosted by CEO Scott R. Behrens and CFO Luis E. Rojo. The call will discuss the company's financial and operational performance and will be accessible via phone and webcast. Supporting slides will be available on the Investors/Presentations page of Stepan's website. A webcast replay of the call will also be accessible shortly after the event.
Stepan is a key manufacturer of specialty chemicals, including surfactants used in various industries, and polyurethane polyols for thermal insulation and CASE industries. The company operates globally with production facilities across North and South America, Europe, and Asia.
Stepan Company reported first-quarter 2024 results with net income at $13.9 million and adjusted net income at $14.7 million, down 11% year-over-year. EBITDA was $50.2 million, and adjusted EBITDA was $51.2 million, up 5% year-over-year. Global sales volume increased by 1%. The company is on track to achieve its $50 million cost reduction goal for 2024, recognizing $18 million in pre-tax savings in the first quarter.
Stepan Company (NYSE: SCL) declared a quarterly cash dividend of $0.375 per share, payable on June 14, 2024, to stockholders of record on May 31, 2024. This marks the 56th consecutive year of dividend increases. Stepan is a major manufacturer of chemicals used in various industries, including surfactants, polyurethane polyols, and CASE industries.
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