secwatch.observer — SEC 8-K summary
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Issuer:     STEPAN CO (SCL)
CIK:        0000094049
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000950170-24-050194
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stepan Q1 adjusted EBITDA up 5% to $51.2M; net sales down 15% on lower pricing; reaffirms $50M cost out program
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- Net income $13.9M ($0.61 EPS); adjusted net income $14.7M ($0.64 EPS), down 11% YoY.
- Adjusted EBITDA $51.2M, up 5% YoY; Surfactants +4%, Polymers -10%, Specialty Products +49%.
- Net sales $551.4M, down 15% YoY on 18% lower selling prices; volume up 1% (ex-ag & PA +4%).
- Cost reduction on track: $18M pre-tax savings in Q1 toward $50M goal for 2024.
- Quarterly dividend $0.375/sh declared, payable June 14, 2024; unchanged from prior quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/94049/000095017024050194/0000950170-24-050194-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/94049/000095017024050194/scl-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-050194

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer