Stepan (SCL) Misses Q2 EPS by 22c

Stepan (NYSE: SCL) reported Q2 EPS of $0.68, $0.22 worse than the analyst estimate of $0.90. Revenue for the quarter came in at $491 million versus the consensus estimate of $499.2 million.

"Consistent with prior communications, our North American Surfactant business continued to be challenged by lower commodity volumes which negatively impacted corporate results", said F. Quinn Stepan, Jr., President and Chief Executive Officer. "Opportunities to improve surfactant asset utilization are being aggressively pursued. Our Polymer segment delivered solid earnings from strong North American polyol growth in both our traditional rigid foam insulation business and last year's polyester resin acquisition."

"We continue to progress our strategic initiatives that are critical for future earnings growth. The announced Surfactant acquisition in Brazil has been approved by the anti-trust authorities. We anticipate the transaction will be completed early first quarter next year. We are resourcing projects to add polyol capacity in China, Poland and the United States. Our work on the previously announced formal program, using internal and external resources to improve efficiency across the Company, is advancing and should deliver meaningful results in 2015."

For earnings history and earnings-related data on Stepan (SCL) click here.

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