Stepan Co. (SCL) Tops Q1 EPS by 30c

Stepan Co. (NYSE: SCL) reported Q1 EPS of $0.64, $0.30 better than the analyst estimate of $0.34. Revenue for the quarter came in at $551.4 million versus the consensus estimate of $572.85 million.

Outlook:

"Looking forward, we believe sales volumes will continue to gradually improve due to ongoing recovery in Rigid Polyols and growth in Surfactant volumes including the expected recovery of the Agricultural business in the second half of the year," said Scott Behrens, President and Chief Executive Officer. "We remain focused on delivering $50 million in pre-tax savings from our previously shared cost reduction program to help offset inflationary pressures, increased expenses associated with the commissioning of our new Pasadena alkoxylation assets, higher incentive-based compensation expenses and expenses associated with the operational issues at our Millsdale site. Free cash flow should continue to improve versus prior year as we finish construction on our Pasadena investment and benefit from higher Agriculture volumes in the second half of the year. Continued gradual growth in market volumes, improved operational performance and our continued focus on cost reduction should position us to deliver full year adjusted EBITDA growth and positive free cash flow. We remain confident in our long-term growth and innovation initiatives."

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

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