Stepan Stock Price, News & Analysis

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 $0.365 per share, payable on June 15, 2023, to stockholders of record on May 31, 2023. This increase of $0.030 per share marks the 55th consecutive year of dividend increases for the Company. Stepan Company is a leading manufacturer of specialty and intermediate chemicals, notably surfactants used in various applications including cleaning products and agricultural solutions. Operating from its headquarters in Northbrook, Illinois, the Company has a global presence with production facilities across North America, Europe, and Asia.