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 its first-quarter results on April 25, 2023. The company experienced a significant drop in net income, totaling $16.1 million ($0.70 per share), down 64% from $44.8 million ($1.93 per share) in the prior year. Adjusted net income also fell to $16.4 million from $40.7 million year-over-year. Total sales decreased by 4% to $651.4 million, while EBITDA dropped significantly to $48.3 million from $84.6 million last year. The decline was attributed to a 14% decrease in global sales volume across all segments, particularly surfactants and polymers, due to lower market demand and customer destocking. Despite these challenges, the company aims for a modest recovery in the second half of the year, bolstered by new contracted business and growth in Rigid Polyols.
On April 24, 2023, the Board of Directors of Stepan Company (NYSE:SCL) declared a quarterly cash dividend of
Stepan Company (NYSE: SCL) is set to release its first quarter 2023 earnings results on April 25, 2023, at approximately 7:00 am ET. A conference call will follow at 8:00 am ET, hosted by CEO Scott R. Behrens and CFO Luis E. Rojo. The call will discuss the company's financial and operational performance. Interested participants can access the call via phone or webcast with advance registration. Stepan Company, headquartered in Northbrook, Illinois, specializes in manufacturing specialty and intermediate chemicals across various industries, including cleaning, agriculture, and thermal insulation.
Stepan Company (NYSE: SCL) declared a quarterly cash dividend of $0.365 per share on February 15, 2023, payable on March 15, 2023, to stockholders of record by March 3, 2023. This marks a $0.030 increase from the previous quarter and the 55th consecutive year of dividend increases. Stepan, based in Northbrook, Illinois, is a leading manufacturer of specialty chemicals used across various industries, including surfactants for cleaning products and polyurethane polyols for thermal insulation. The company operates production facilities in North and South America, Europe, and Asia.
Stepan Company (NYSE: SCL) reported $10.8 million in net income for Q4 2022, down from $17.0 million a year earlier. Adjusted net income also fell to $13.5 million from $22.5 million. Total sales volume decreased by 17%, primarily due to reduced global commodity laundry demand and inventory destocking. Surfactant operating income dropped to $21.8 million, while Polymer operating income fell to $3.0 million. Conversely, Specialty Products saw an increase in operating income to $6.6 million. Despite challenges, the company achieved a record full-year net income of $147.2 million. The outlook for 2023 foresees potential headwinds from high inflation and interest rates affecting demand.
Stepan Company (NYSE: SCL) will release its fourth quarter and full year 2022 earnings results on February 16, 2023, at 7:00 am ET. A conference call hosted by CEO Scott R. Behrens and CFO Luis E. Rojo will follow at 10:00 am ET to discuss financial and operational performance. The call can be accessed via phone or webcast, with registration required for phone access. Stepan is a major manufacturer of specialty chemicals, primarily producing surfactants and polyurethane polyols for various industries.
Stepan Company (NYSE: SCL) reported record third-quarter results for 2022, with net income reaching $39.4 million ($1.71 per diluted share), up 7% year-over-year. Adjusted net income rose to $46.3 million ($2.01 per diluted share), marking a 27% increase. Despite a total sales volume decrease of 8%, the company achieved a 19% rise in net sales due to higher selling prices. Surfactants and Specialty Products sectors reported significant operating income growth, while Polymer segment income increased by 61% despite a 10% volume decline. The company also increased its quarterly dividend by 9%.
On October 18, 2022, Stepan Company (NYSE:SCL) announced a 9.0% increase in its quarterly cash dividend, raising it by $0.030 to $0.365 per share. This dividend, marking the 55th consecutive year of increases, will be payable on December 15, 2022, to stockholders of record on November 30, 2022. Stepan Company specializes in manufacturing chemicals used across numerous industries, including cleaning products and polyurethane polyols for thermal insulation.
Stepan Company (NYSE: SCL) has finalized its acquisition of PerformanX Specialty Chemicals, which includes vital intellectual property, commercial relationships, and inventory. This acquisition strengthens Stepan's position in alkoxylates, essential for various markets such as agriculture and oilfield solutions. The financial terms of the deal remain undisclosed. CEO Scott R. Behrens expressed enthusiasm over welcoming PerformanX's customers and highlighted the strategic significance this acquisition brings to Stepan's product offerings and market presence.
Stepan Company (NYSE: SCL) will release its third quarter 2022 earnings results on October 19, 2022, at 7:00 am ET. A conference call hosted by CEO Scott R. Behrens and CFO Luis E. Rojo will follow at 10:00 am ET. The earnings and supporting slides will be accessible on the company's website. Stepan is a major manufacturer of specialty chemicals, focusing on surfactants and polyurethane products, and operates globally from multiple production facilities. The company emphasizes its commitment to sustainability.
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