Stepan Q3 net income falls 68% to $0.55 EPS; dividend raised to $0.375

STEPAN CO

2023-Q3 EPS reported $1.80 revenue$1,793,637,000

Q3 reported net income $12.6M ($0.55 EPS) vs $39.4M ($1.71 EPS) YoY; adjusted net income $14.7M ($0.64 EPS) vs $46.3M ($2.01 EPS).
Sales volume fell 9% YoY; Surfactant op income $15.4M (down 61%), Polymer $21.8M (down 32%), Specialty Products $2.4M (down 75%).
EBITDA $45.1M vs $76.4M YoY; company expects $50M pre-tax cost savings in 2024 to offset inflation and new plant expenses.
Board increased quarterly dividend to $0.375/share (2.7% increase), payable Dec 15 to record Nov 30; 56th consecutive annual increase.

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 0.9

STEPAN CO reported financial results for the quarter ended September 30, 2023.

Period: the quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On October 18, 2023, Stepan Company (“Stepan”) issued a press release providing its financial results for the quarter ended September 30, 2023.

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

STEPAN CO filing history →

Source: SEC EDGAR

accession 0000950170-23-053921

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