Markets :: Specialty Chemicals :: Surfactants
Stepan earnings fall short of estimates on weak surfactants results
3:11 PM MDT | July 24, 2013 | Vincent Valk
Stepan’s second-quarter net income rose 6% year-on-year (YOY), to $22.7 million, on net sales up 1%, to $474.4 million. Excluding deferred compensation plan income, however, net income fell 10%, to $20.4 million, or 89 cts/share, short of analysts’ estimates of $1.01/share, as reported by Thomson Reuters (New York). Sales in the surfactants segment declined 1% YOY, to $331.1 million, while segment gross profit was down 7%, to $48.3 million. Lower sales of high-margin oilfield products and higher raw material costs drove the declines. Consumer cleaning...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee