Stepan Co Files Q2 2024 10-Q

TL;DR

Stepan Co's Q2 10-Q is in: financials for Polymers & Surfactants detailed.

AI Summary

Stepan Company filed its 10-Q for the period ending June 30, 2024. The filing details financial performance across its segments, including Polymers and Surfactants, with specific regional data for Asia, Latin America, and Europe. Key financial items like current liabilities and treasury stock are also presented for the reporting periods.

Why It Matters

This filing provides investors with a detailed look at Stepan Company's financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-06-30 — Reporting Period End (Financial reporting period for the 10-Q.)
• 2024-01-01 — Reporting Period Start (Financial reporting period for the 10-Q.)
• 2023-06-30 — Prior Year Period End (For comparative financial analysis.)
• 2023-01-01 — Prior Year Period Start (For comparative financial analysis.)

Key Players & Entities

• STEPAN CO (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240808 (date) — Filing Date
• 0000094049 (company) — Central Index Key
• SOAP, DETERGENT, CLEANING PREPARATIONS, PERFUMES, COSMETICS [2840] (industry) — Standard Industrial Classification
• NORTHFIELD, IL 60093 (location) — Business Address
• 8474467500 (phone_number) — Business Phone
• STEPAN CHEMICAL CO /DE/ (company) — Former Company Name
• 19840108 (date) — Date of Name Change

FAQ

Key Financial Figures

• $1 — nge on which registered Common Stock, $1 par value SCL New York Stock Exchan

Filing Documents

• scl-20240630.htm (10-Q) — 2949KB
• scl-ex31_1.htm (EX-31.1) — 13KB
• scl-ex31_2.htm (EX-31.2) — 12KB
• scl-ex32.htm (EX-32) — 8KB
• 0000950170-24-093579.txt ( ) — 12315KB
• scl-20240630.xsd (EX-101.SCH) — 1254KB
• scl-20240630_htm.xml (XML) — 2989KB

FINANCIAL INFORMATION

Part I FINANCIAL INFORMATION

- Financial Statements

Item 1 - Financial Statements STEPAN COMPANY CONDENSED CONSOLIDATED STATEMENTS OF INCOME Unaudited (In thousands, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net Sales $ 556,405 $ 579,975 $ 1,107,823 $ 1,231,411 Cost of Sales 486,853 513,578 967,990 1,091,454 Gross Profit 69,552 66,397 139,833 139,957 Operating Expenses: Selling 11,828 11,109 23,216 24,176 Administrative 24,569 22,589 47,259 45,228 Research, development and technical services 14,093 14,105 28,349 29,243 Deferred compensation expense 395 743 2,173 2,245 50,885 48,546 100,997 100,892 Business restructuring expense — 42 — 199 Operating Income 18,667 17,809 38,836 38,866 Other Income (Expense): Interest, net ( 2,661 ) ( 3,865 ) ( 5,732 ) ( 6,687 ) Other, net (Note 15) 1,200 2,370 3,562 4,038 ( 1,461 ) ( 1,495 ) ( 2,170 ) ( 2,649 ) Income Before Provision for Income Taxes 17,206 16,314 36,666 36,217 Provision for Income Taxes 7,685 3,630 13,252 7,391 Net Income 9,521 12,684 23,414 28,826 Net Income Per Common Share (Note 10): Basic $ 0.42 $ 0.56 $ 1.03 $ 1.27 Diluted $ 0.42 $ 0.55 $ 1.02 $ 1.25 Shares Used to Compute Net Income Per Common Share (Note 10): Basic 22,827 22,768 22,825 22,763 Diluted 22,936 22,945 22,942 22,970 The accompanying Notes to Condensed Consolidated Financial Statements are an integral part of these financial statements. 2 STEPAN COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Unaudited (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net Income $ 9,521 $ 12,684 $ 23,414 $ 28,826 Other Comprehensive Income: Foreign currency translation adjustments (Note 11) ( 25,4

View Full Filing

View this 10-Q filing on SEC EDGAR