Stepan Co. (SCL) Tops Q3 EPS by 17c

Stepan Co. (NYSE: SCL) reported Q3 EPS of $1.56, $0.17 better than the analyst estimate of $1.39. Revenue for the quarter came in at $464.48 million versus the consensus estimate of $465.07 million.

Outlook

"Adjusted net income for the first nine months of 2020 was a record $98.9 million, up 6% versus 2019, despite the negative impact of our Millsdale plant power outage during the first quarter," said F. Quinn Stepan, Jr., Chairman, President and Chief Executive Officer. "We believe our Surfactant volumes in the consumer product end markets should remain strong as a result of heightened demand for disinfection, cleaning and personal wash products. We anticipate that demand for surfactants within the agricultural market will approximate last year and that the oilfield market will remain down for the balance of 2020. Although global demand for rigid polyols has slightly recovered, we believe the business will continue to be challenged short-term as re-roofing and new construction projects have been deferred or canceled. Despite recent challenges, we believe the long-term prospects for rigid polyols remain attractive as energy conservation efforts and more stringent building codes should increase demand. Our Specialty Product business should approach prior year results. Our strong balance sheet and cash on hand positions us for future organic and inorganic growth."

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

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