Welcome to our dedicated page for Stepan news (Ticker: SCL), a resource for investors and traders seeking the latest updates and insights on Stepan stock.
Stepan Company (SCL) provides specialty chemical solutions for consumer, industrial, and food applications through its global manufacturing network. This news hub offers investors and industry professionals direct access to verified corporate announcements and market developments.
Track official updates across all business segments including surfactants for cleaning products, polymer innovations for construction materials, and specialty ingredients for food processing. Our curated collection features earnings disclosures, operational expansions, sustainability initiatives, and leadership updates from this NYSE-listed chemical manufacturer.
Key resources include quarterly financial results, R&D breakthroughs in biodegradable formulations, and strategic partnerships across the supply chain. Bookmark this page for real-time access to SCL's regulatory filings, product launch details, and manufacturing capacity updates from facilities worldwide.
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.
FAQ
What is the current stock price of Stepan (SCL)?
What is the market cap of Stepan (SCL)?
