Stepan posts Q4 net loss $1.2M; adjusted EPS $0.33 vs $0.59; revenue down 15%

STEPAN CO

2023-FY EPS reported $1.75 revenue$2,325,768,000

Net loss $1.2M (-$0.05 diluted) vs net income $10.8M ($0.47) in Q4 2022; adjusted net income $7.5M ($0.33) vs $13.5M ($0.59).
Full year 2023 net income $40.2M ($1.75) vs $147.2M ($6.38) in 2022; adjusted EPS $2.21 vs $6.65.
Revenue $532.1M, down 15% YoY (volume +3%, price/mix -21%); full year revenue $2.33B, down 16%.
Surfactant operating income down 32% to $14.8M; Polymer up 322% to $12.6M on polyols volume; Specialty Products down 58%.
Expects $50M pre-tax cost savings in 2024; declared $0.375 quarterly dividend payable March 15, 2024 (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 and the year ended February 20, 2024.

Period: the quarter and the year ended February 20, 2024
Result: reported results

Exact text from the filing

On February 20, 2024, Stepan Company (“Stepan”) issued a press release providing its financial results for the quarter and the year ended February 20, 2024.

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Source: SEC EDGAR

accession 0000950170-24-016793

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