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) has acquired INVISTA's aromatic polyester polyol business for approximately $100 million, strengthening its manufacturing capabilities in the U.S. and Europe. The deal includes two manufacturing sites in Wilmington, NC, and Vlissingen, Netherlands, along with customer relationships and inventory. This acquisition aims to enhance Stepan's EBITDA margins and supports the growth of its rigid polyol business, which is expected to benefit from rising energy conservation efforts and stricter building codes. Management will provide further insights during the Q4 2020 results call on February 18, 2021.
Stepan Company (NYSE: SCL) announced the appointment of Lorinda Burgess as a new board director, effective January 27, 2021. Burgess, with over 20 years at Medtronic, served as Vice President, Finance and CFO for the Americas Region. She brings extensive financial leadership experience from her previous roles at Marshall Field's and BET Holdings. Quinn Stepan, Jr., Chairman and CEO, expressed enthusiasm for her addition, highlighting the strategic operational expertise she offers. Stepan Company specializes in manufacturing specialty chemicals across various sectors.
Stepan Company (NYSE: SCL) will announce its fourth quarter and full year 2020 earnings on February 18, 2021, at 7:00 am ET. The conference call for discussing financial results will follow at 10:00 am ET. Hosted by CEO F. Quinn Stepan, Jr. and CFO Luis E. Rojo, the call is accessible via phone and webcast. Stepan produces specialty chemicals used across various industries, including surfactants and polyurethane polyols, with facilities in North and South America, Europe, and Asia.
Stepan Company (NYSE: SCL) has appointed Scott Behrens as the new President and Chief Operating Officer, effective January 1, 2021. With over 25 years at Stepan, Behrens has significantly contributed to the company's surfactant business, achieving record results through diversification and innovative technologies. He holds a Bachelor's in Chemistry from Illinois State University and an MBA from Northwestern University's Kellogg School. Stepan manufactures specialty chemicals for various industries and operates globally.
On October 20, 2020, Stepan Company (NYSE:SCL) announced a 10.9% increase in its quarterly cash dividend to $0.305 per share, payable on December 15, 2020. This increase marks the 53rd consecutive year of dividend growth, reflecting Stepan's commitment to returning value to shareholders. The record date for common stockholders is November 30, 2020. Stepan Company manufactures specialty and intermediate chemicals across various industries, with a strong market presence in surfactants and polyurethane polyols.
Stepan Company (NYSE: SCL) reported a strong third quarter for 2020 with net income increasing to $33.2 million, or $1.43 per diluted share, up from $25.9 million, or $1.11 per diluted share in the prior year. Adjusted net income rose 30% to $36.4 million, reflecting a 5% increase in sales volume. Surfactant operating income surged to $41.2 million due to heightened demand amid COVID-19. However, Polymer segment income decreased to $22.4 million, impacted by an 8% drop in North American sales. The company's cash reserves exceeded total debt, facilitating ongoing dividend payments and future growth.
Stepan Company (NYSE: SCL) will release its third quarter 2020 earnings on October 21, 2020, at 7:00 am ET. A conference call led by CEO F. Quinn Stepan, Jr. and CFO Luis E. Rojo will occur at 10:00 am ET to discuss financial performance. Stepan specializes in specialty and intermediate chemicals, focusing on surfactants, polyurethane polyols, and products for various industries. The company operates globally with production facilities in North and South America, Europe, and Asia.
On September 17, 2020, Stepan Company (NYSE: SCL) announced the completion of its acquisition of Clariant's anionic surfactant business and sulfation equipment located in Santa Clara, Mexico. The financial details of the transaction remain undisclosed. This acquisition is poised to bolster Stepan's growth strategy in Latin America, enhancing its capacity to serve customers in Mexico's Consumer and Functional surfactant markets. The transition of customer supply to Stepan's Ecatepec and Matamoros facilities is expected in the upcoming months.
On July 21, 2020, Stepan Company (NYSE:SCL) announced a quarterly cash dividend of $0.275 per share, payable on September 15, 2020, to shareholders of record as of August 31, 2020. This marks the 52nd consecutive year of dividend increases, with the last hike of $0.025 implemented in Q4 2019. Stepan Company specializes in manufacturing specialty chemicals across various industries, including surfactants and polyurethane polyols, and operates globally across North and South America, Europe, and Asia.
Stepan Company (NYSE: SCL) will release its second quarter 2020 earnings results on July 22, 2020, at 7:00 am ET. Accompanying slides will be available on the Investor Relations page. A conference call to discuss the earnings will be held on the same day at 10:00 am ET, hosted by CEO F. Quinn Stepan, Jr. and CFO Luis E. Rojo. Stepan is a prominent manufacturer of specialty chemicals, particularly surfactants and polyurethane polyols. For more details, visit www.stepan.com.
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