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Stepan Company - SCL STOCK NEWS

Welcome to our dedicated page for Stepan Company news (Ticker: SCL), a resource for investors and traders seeking the latest updates and insights on Stepan Company 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.

Rhea-AI Summary

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.

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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.

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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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Stepan Company (SCL) to Release First Quarter 2024 Earnings Results on April 30, 2024
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Stepan Company (SCL) increases quarterly cash dividend to $0.375 per share, marking 56 consecutive years of dividend growth.
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Stepan Company (SCL) reports fourth-quarter net loss but increases cash dividend, faces challenges in agricultural end markets, and plans cost-saving measures for 2024.
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Stepan Company appoints Susan M. Lewis as Director, bringing extensive supply chain and agricultural industry experience. Stepan is a major manufacturer of specialty chemicals, surfactants, and polyurethane polyols.
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Stepan Company (SCL) is set to release its Q4 and full year 2023 earnings results on February 20, 2024. The earnings release will be accompanied by a conference call to discuss the results and answer questions from investors and analysts.
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Stepan Company increases quarterly cash dividend, marking 56th consecutive year of increases
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Stepan Company reports third quarter results with a decrease in net income and sales volume. Surfactant operating income declined due to lower sales volume and unit margins. Polymer operating income also decreased, but showed improvement compared to the previous quarter. Specialty Product operating income was down due to lower unit margins and sales volume. The Company increased its quarterly cash dividend by 3%. EBITDA and adjusted EBITDA declined due to the reduction in sales volume. The Company recorded a restructuring reserve and expects cost savings in 2024.
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FAQ

What are the main products of Stepan Company?

Stepan Company specializes in surfactants, polymers, and specialty products used in various industries including personal care, construction, and food flavoring.

Where is Stepan Company headquartered?

Stepan Company is headquartered in Northbrook, Illinois, in the Greater Chicago area.

What recent projects has Stepan Company undertaken?

Stepan is advancing its new alkoxylation facility in Pasadena, Texas, expected to start operations by mid-2024, enhancing production capacity to meet new regulatory limits.

How did Stepan Company perform financially in 2023?

Despite a 23% decrease in second-quarter net sales year-over-year, Stepan managed to control expenses and reduce inventory levels significantly.

What is Stepan Company's commitment to sustainability?

Stepan is dedicated to innovative chemical solutions for a cleaner, healthier, and more energy-efficient world, with detailed sustainability initiatives available on their website.

What industries do Stepan Company's products serve?

Stepan's products serve a wide range of industries including personal care, construction, automotive, food and flavoring, agricultural, and oilfield solutions.

How does Stepan Company support its employees?

Stepan fosters a culture of innovation, teamwork, and quality, offering ongoing development and advancement opportunities for employees across its global operations.

On which stock exchange is Stepan Company listed?

Stepan Company is traded on the New York Stock Exchange (NYSE) under the symbol SCL.

How can I get more information about Stepan Company?

More information about Stepan Company can be found on their official website at www.stepan.com.

What are Stepan Company's future growth prospects?

Stepan anticipates gradual volume and margin improvement in 2024, driven by recovery in Rigid Polyols demand, growth in Surfactant volumes, and cost reduction initiatives.

Stepan Company

NYSE:SCL

SCL Rankings

SCL Stock Data

2.02B
22.48M
3.89%
84.58%
1.03%
Other Basic Inorganic Chemical Manufacturing
Manufacturing
Link
United States of America
NORTHFIELD