2023-07-26 06:58:07 ET
- Stepan press release ( NYSE: SCL ): Q2 Non-GAAP EPS of $0.53 misses by $0.64 .
- The decline in both reported and adjusted net income was predominately due to a 19% reduction in sales volume versus the prior year.
- Revenue of $579.98M (-22.8% Y/Y) misses by $89.87M .
- Surfactant net sales were $391.7 million for the quarter, a 19% decrease versus the prior year. Sales volume decreased 15% year-over-year
- Polymer net sales were $164.5 million for the quarter, a 31% decrease versus the prior year. Sales volume decreased 29% in the quarter primarily due to a 28% decline in Rigid Polyols and lower demand in the Specialty Polyols and Phthalic Anhydride businesses.
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Stepan Non-GAAP EPS of $0.53 misses by $0.64, revenue of $579.98M misses by $89.87M