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People & Business :: Earnings/Finance
Stepan reports drop in earnings on low volumes
10:56 AM MDT | April 30, 2013 | Lindsay Frost
Stepan (Northfield, IL) reports a drop in earnings and sales for the first quarter 2013. The company's net income of $19 million decreased 15% year-on-year (YOY) because of lower surfactant and polymer volumes, the company says. Adjusted earnings per share of 94 cts/share were below analyst estimates of $1.18/share, as reported by Thomson Reuters (New York). Earnings declined on lower margins as average selling prices were lower for the surfactant and specialty products segments, the company says. Surfactant margins should benefit from falling raw...
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