Stepan Q2 net income falls 76% to $0.55 EPS; sales volume down 19% YoY

STEPAN CO

2023-Q2 EPS reported $1.25 revenue$1,231,411,000

Net income of $12.7M ($0.55 diluted) vs. $52.1M ($2.26) a year ago; adjusted EPS $0.53.
Revenue $580M, down 23% YoY; global sales volume declined 19%.
Surfactant operating income fell 69% to $15.1M; Polymer down 52% to $16.3M; Specialty Products down 62% to $3.8M.
Q2 EBITDA $46.7M vs. $95.5M; adjusted EBITDA $45.8M vs. $96.7M.
Board declared $0.365 quarterly dividend payable Sept. 15, record Aug. 31; unchanged from prior quarter.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STEPAN CO reported the quarter ended June 30, 2023 results: net income $12.7 million, or $0.55 per diluted share.

Period: the quarter ended June 30, 2023
Net income: $12.7 million, or $0.55 per diluted share
Result: reported results

Exact text from the filing

Stepan Reports Second Quarter Results Northbrook, Illinois, July 26, 2023 -- Stepan Company (NYSE: SCL) today reported: Second Quarter Highlights • Reported net income was $12.7 million, or $0.55 per diluted share, versus a record $52.1 million, or $2.26 per diluted share, in the prior year.

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Source: SEC EDGAR

accession 0000950170-23-034554

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