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) will release its first-quarter 2022 earnings results on April 26, 2022, at 7:00 am ET. A conference call for discussing financial performance will follow at 8:00 am ET. Scott Behrens, the new President and CEO, and CFO Luis E. Rojo will be leading the call. Stepan is a key player in specialty chemicals, producing surfactants and polyurethane polyols. The company operates globally with a strong focus on sustainability. More details will be available on their Investors page.
Stepan Company (NYSE: SCL) reported a 44% decline in fourth quarter net income to $17.0 million ($0.73 per diluted share) compared to $30.4 million ($1.30 per diluted share) last year. Adjusted net income was $22.5 million ($0.97 per diluted share), down 32%. Despite a 23% year-over-year increase in sales to $610.0 million, total sales volume decreased 4%. The 2021 full year net income reached a record $137.8 million ($5.92 per diluted share), with total sales volume up 2%.
Supply chain disruptions affected all segments, contributing to declines in operating income.
Stepan Company (NYSE: SCL) declared a quarterly cash dividend of $0.335 per share on February 16, 2022. This dividend will be payable on March 15, 2022, to stockholders of record on March 4, 2022. This increase marks the 54th consecutive year of dividend growth, a sign of the company's commitment to returning value to shareholders. Stepan is recognized for its specialty chemicals used in various industries and has a significant global production network.
Stepan Company (NYSE: SCL) announced F. Quinn Stepan, Jr.'s retirement as CEO effective April 25, 2022, transitioning to non-executive Chairman of the Board. Scott Behrens, the current President and COO, will succeed him. During Stepan's tenure since 2006, sales grew over 50%, and net income rose from $13 million in 2005 to $138 million in 2021. The company's market capitalization surged from $142 million to $2.8 billion. The Board emphasizes a well-planned succession process to ensure continued growth.
Stepan Company (NYSE: SCL) will release its fourth quarter and full year 2021 earnings results on February 17, 2022, at 7:00 am ET. A conference call to discuss the financial performance will follow at 10:00 am ET, hosted by key executives including Chairman F. Quinn Stepan, Jr. and CFO Luis E. Rojo. Stepan is a major manufacturer of specialty chemicals, supplying a diverse range of industries. The company's production facilities span North and South America, Europe, and Asia, emphasizing its global footprint in the market.
Stepan Company (NYSE: SCL) reported a net income of $36.9 million for Q3 2021, or $1.59 per diluted share, up from $33.2 million, or $1.43 per share, a year earlier. Adjusted net income remained flat at $36.4 million. Total sales rose 30% to $602.7 million compared to Q3 2020, driven by higher selling prices. Surfactant operating income fell 16% to $34.5 million due to supply chain disruptions and lower demand for consumer products. Despite challenges, the company increased its quarterly dividend by 10.9%, marking 54 consecutive years of dividend growth.
Stepan Company (NYSE: SCL) announced a $220 million investment to build a new alkoxylation plant at its Pasadena, Texas facility. The project aims to enhance capacity by 75,000 metric tons per year, focusing on both ethoxylation and propoxylation. This expansion will strengthen Stepan's ability to meet growing global demand in its Surfactant and Polymer businesses. The new facility is expected to commence operations in late 2023, increasing Stepan's alkoxylation network to three plants in the strategic U.S. Gulf Coast region.
Stepan Company (NYSE:SCL) announced a 9.8% increase in its quarterly cash dividend to $0.335 per share, marking the 54th consecutive year of dividend increases. The dividend is payable on December 15, 2021, to shareholders of record by November 30, 2021. Additionally, the Board authorized a $150 million share repurchase program to enhance shareholder value. Chairman F. Quinn Stepan, Jr. emphasized the company's strong balance sheet and cash flow, affirming their commitment to disciplined capital allocation.
Stepan Company (NYSE: SCL) will release its third quarter 2021 earnings results on October 20, 2021, at 7:00 am ET. A conference call will follow at 10:00 am ET to discuss financial performance and answer questions. The call will be hosted by executives including F. Quinn Stepan, Jr. and Scott R. Behrens. Investors can access the call via phone or webcast at Stepan's website. Stepan specializes in manufacturing specialty chemicals for various industries and is headquartered in Northbrook, Illinois.
On July 27, 2021, Stepan Company (NYSE:SCL) declared a quarterly cash dividend of $0.305 per share, payable on September 15, 2021, to stockholders of record by August 31, 2021. This marks the 53rd consecutive year of dividend increases by the company. Stepan Company specializes in manufacturing specialty and intermediate chemicals across various industries, including consumer cleaning and insulation markets. The company has a global production network and is committed to sustainability.
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