Stepan Posts Higher Q2 Earnings, but Misses Estimates

Stepan posted higher second quarter results, as profits in its surfactants business offset weak phthalic anhydride (PA) sales, although the company missed analysts' earnings expectations by more than 10%. The company posted net income of $21 million for its fiscal quarter ended June 30, up 3% from the year-ago quarter. Excluding special charges, earnings of $1.99/share fell short of analysts' consensus of $2.26/share, as reported by Thomson Reuters (New York). Sales slipped 1%, to $470 million, on foreign currency translation and lower selling prices. Gross...

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