Higher-value surfactants boost Stepan third-quarter results

Stepan reported net income of $20.2 million for its fiscal third quarter, ended 30 September 2012, 6% higher than the year-ago quarter, on increased volumes of higher-value surfactants and an improved polymers product mix. Adjusted earnings of $1.82/share fell short of analysts’ consensus estimate of $2.01/share, as reported by Thomson Reuters (New York), by 9%. Sales fell 12%, to $441 million, on a 3% drop in volumes and lower selling prices. Surfactant sales decreased 13%, to $313 million. Segment gross profit increased 9%, to $46 million, on an...

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