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Stepan earnings hit hard by winter weather

1:28 PM MDT | April 29, 2014 | Vincent Valk

Stepan today reported first-quarter earnings down 32% year-on-year, to $13 million, on sales up 5%, to $477 million. Excluding deferred compensation, adjusted earnings totaled $12.8 million, down 41% YOY. Adjusted earnings totaled 56 cts/share, well short of analysts’ consensus estimate of 83 cts/share, as reported by Thomson Reuters (New York). Bad weather hit results hard, the company says. "We were experiencing a slow start to the year with severe weather impacting customer locations, transportation and logistics, and some of our own facilities in...

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