People & Business :: Companies
Stepan Earnings Rise on Higher Selling Prices
3:33 PM MDT | July 27, 2011 | Vincent Valk
Stepan reported second-quarter net income up 22% year-on-year, to $20.9 million, or $1.87/share, beating analysts' estimates of $1.73/share. Sales totaled $477 million, up 30% from the same period last year. Higher selling prices drove the revenue increase, as total volumes grew by less than one percent. Sales rose in both surfactants and polymers, though surfactants recorded a one percent fall in sales, which was offset by higher prices. Sales in the polymers business grew by six percent. The company expects surfactant earnings to improve as the...
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