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Stepan earnings rise, but fall short of estimates

9:56 AM MDT | July 23, 2014 | Vincent Valk

Stepan today reported second-quarter net income up 7% year-on-year (YOY), to $24.4 million, on net sales up 6%, to $504.1 million. Excluding deferred compensation, earnings totaled 90 cts/share, short of analysts’ consensus estimate of $1.01/share, as reported by Thomson Reuters (New York). Polymers sales were strong, but surfactant sales were sluggish due to weakness in North America and in the agricultural market, Stepan says. "North American surfactant results were down as volumes decreased 11% for the quarter due to lower consumer product...

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