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Stepan earnings rise 2% on higher sales, polymers acquisition

1:00 PM MDT | October 21, 2013 | Vincent Valk

Stepan has reported third-quarter net income of $20.4 million, up 1% year-on-year (YOY), on sales up 8%, to $475.5 million. Adjusted earnings totaled 92 cts/share, up 1% and slightly short of analysts’ consensus estimate of 93 cts/share, as reported by Thomson Reuters (New York). "We delivered slightly improved results in the third quarter, and we remain optimistic about our long-term growth," says F. Quinn Stepan, president and CEO of Stepan. "The slow start to the year has made achieving full-year earnings growth difficult, but we continue...

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