Markets :: Specialty Chemicals :: Surfactants
Stepan earnings miss estimates
2:25 PM MST | February 18, 2014 | Vincent Valk
Stepan today reported net income down 30.5% year-on-year (YOY), to $10.7 million, on sales up 11%, to $474.3 million. Excluding restructuring and deferred compensation expenses, net income fell 20.6% YOY, to $14.3 million. Earnings totaled 62 cts/share, well short of analysts’ consensus estimate of 86 cts/share, as reported by Thomson Reuters (New York). Excluding acquisitions, sales were up 8% YOY on higher volumes. "Recent large investments in both surfactants and polymers contributed to our profitability in 2013 and should deliver income gains in...
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