Breaking News

Stepan Reports Record Net Income

February 23, 2017

On essentially flat sales.

Stepan reported 2016 net income roe 13% to a record $86.2 million, as sales fell less than 1% to more than $1.76 billion. Volume rose 6%, but lower prices and negative currency rates negated gains. Company executives credited the results to a combination of strong polymer sales and internal cost-cutting measures.

"(It) was a very good year as the company delivered record reported and adjusted net income," said F. Quinn Stepan Jr., president and chief executive officer. "Strong global polymer volumes, increased asset utilization and enhanced internal efficiencies continued to deliver results."

According to Stepan Jr., the surfactant segment delivered $99.8 million of operating income while overcoming certain non-recurring items. Operating income improved in the US, Asia and Latin America. Polymers delivered its seventh consecutive year of record operating income, primarily due to higher volumes in rigid polyols which benefited from new customers and global energy conservation efforts. Specialty Product results were up significantly for the year as the segment benefited from structural actions taken in 2015.

Fourth quarter sales were flat at $420.6 million.

Related End-User Markets:

Related Raw Materials:

  • What’s Up with Brexit?

    What’s Up with Brexit?

    March 9, 2017
    During In-Cosmetics, industry experts from the CTPA will weigh in on what’s ahead for the beauty industry.

  • Shine On

    Shine On

    Christine Esposito, Associate Editor||March 6, 2017
    Jelmar’s Tarn-X tarnish remover celebrates 50th anniversary.

  • How We Clean

    How We Clean

    Tom Branna, Editorial Director||March 6, 2017
    Consumers describe what makes them tick and what ticks them off about household cleaning products.

  • Supply-Side Innovations

    Supply-Side Innovations

    Tom Branna, Editorial Director||March 1, 2017
    Raw material suppliers roll up their sleeves and roll out their new products for the global cleaning industry.

  • New Faces in Familiar Places

    New Faces in Familiar Places

    Tom Branna, Editorial Director||March 1, 2017
    The American Cleaning Institute officially welcomed its new president.

  • The Green Dot

    The Green Dot

    John Kim and Lambros Kromidas, PhD*, Shiseido Americas||March 1, 2017
    Insights into one of the most used trademarks in the world.