secwatch.observer — SEC 8-K summary
======================================

Issuer:     STEPAN CO (SCL)
CIK:        0000094049
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0000950170-24-088232
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stepan Q2 net income falls 25% to $9.5M; criminal fraud charge and Millsdale flood weigh
--------------------------------------------------------------------------------

- Net income $9.5M ($0.42 diluted EPS), down 25% YoY; adjusted net income $9.4M down 22%.
- Sales volume +4% YoY, but revenue -4% to $556M due to lower selling prices and mix.
- Unusual charges: $11.8M Millsdale flood, $3.6M Pasadena startup, $3.5M criminal fraud in Asia; investigation ongoing.
- Adjusted EBITDA $47.7M (+4%); cost-out on track; expects H2 EBITDA improvement vs prior year.
- Q3 fraud charge expected similar amount (~$3.5M); no material impact on business otherwise.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/94049/000095017024088232/0000950170-24-088232-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/94049/000095017024088232/scl-20240731.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-088232

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