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 manufactures specialty and intermediate chemicals, with recurring updates centered on surfactants, polyurethane polyols and related chemical applications. Its surfactants are used in consumer and industrial cleaning and disinfection products, agricultural solutions and oilfield solutions, while its polyurethane polyols serve thermal insulation and CASE markets.
Stepan news commonly covers operating and financial results, quarterly cash dividends, material agreements, governance matters and capital-structure disclosures for its NYSE-listed common stock. Company updates also include footprint optimization and asset-sale activity across its manufacturing network in North and South America, Europe and Asia.
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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