Stepan Co Files Q3 2024 10-Q
Ticker: SCL · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 94049
| Field | Detail |
|---|---|
| Company | Stepan Co (SCL) |
| Form Type | 10-Q |
| Filed Date | Nov 6, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, credit-facility
TL;DR
Stepan Co's Q3 10-Q is in: check out segment performance and credit facilities.
AI Summary
Stepan Company filed its 10-Q for the period ending September 30, 2024. The filing details financial performance across its operating segments, including Specialty Products and Polymers, with specific segment data for North America, Europe, Asia, and Latin America. The report also references financial instruments like the Delayed Draw Term Loan Credit Facility and a Multi-Currency Credit Facility with a syndicate of banks, dated June 24, 2022.
Why It Matters
This filing provides investors with the latest financial performance data for Stepan Company, crucial for understanding the company's operational health and strategic direction.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Players & Entities
- Stepan Co (company) — Filer
- 2024-09-30 (date) — Period of Report
- 2024-11-06 (date) — Filing Date
- Specialty Products (company) — Operating Segment
- Polymers (company) — Operating Segment
- Delayed Draw Term Loan Credit Facility (company) — Financial Instrument
- Multi-Currency Credit Facility With Syndicate Of Banks (company) — Financial Instrument
FAQ
What were the key financial highlights for Stepan Company in the third quarter of 2024?
The 10-Q filing for the period ending September 30, 2024, provides detailed financial information across Stepan Company's operating segments, but specific financial highlights like revenue or net income figures are not explicitly listed in the provided text snippet.
Which operating segments are detailed in this 10-Q filing?
The filing details financial performance for operating segments including 'Specialty Products' and 'Polymers', with geographical breakdowns for North America, Europe, Asia, and Latin America.
What credit facilities are mentioned in the filing?
The filing references a 'Delayed Draw Term Loan Credit Facility' and a 'Multi-Currency Credit Facility With Syndicate Of Banks', with the latter dated June 24, 2022.
What is the fiscal year end for Stepan Company?
Stepan Company's fiscal year ends on December 31.
When was Stepan Company incorporated and in which state?
Stepan Company was incorporated in Delaware (DE).
Filing Stats: 4,451 words · 18 min read · ~15 pages · Grade level 19.6 · Accepted 2024-11-06 10:08:33
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 par value SCL New York Stock Exchan
Filing Documents
- scl-20240930.htm (10-Q) — 2972KB
- scl-ex31_1.htm (EX-31.1) — 13KB
- scl-ex31_2.htm (EX-31.2) — 13KB
- scl-ex32.htm (EX-32) — 8KB
- 0000950170-24-121883.txt ( ) — 12434KB
- scl-20240930.xsd (EX-101.SCH) — 1264KB
- scl-20240930_htm.xml (XML) — 3013KB
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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net Sales $ 546,842 $ 562,226 $ 1,654,665 $ 1,793,637 Cost of Sales 471,157 490,990 1,439,147 1,582,444 Gross Profit 75,685 71,236 215,518 211,193 Operating Expenses: Selling 11,394 11,811 34,610 35,987 Administrative 26,254 22,904 73,513 68,132 Research, development and technical services 13,532 14,477 41,881 43,720 Deferred compensation expense (income) 556 ( 3,101 ) 2,729 ( 856 ) 51,736 46,091 152,733 146,983 Business restructuring expense (Note 18) — 5,628 — 5,827 Operating Income 23,949 19,517 62,785 58,383 Other Income (Expense): Interest, net ( 3,621 ) ( 2,987 ) ( 9,353 ) ( 9,674 ) Other, net (Note 15) 989 ( 690 ) 4,551 3,348 ( 2,632 ) ( 3,677 ) ( 4,802 ) ( 6,326 ) Income Before Provision for Income Taxes 21,317 15,840 57,983 52,057 Provision for Income Taxes ( 2,289 ) 3,269 10,963 10,660 Net Income 23,606 12,571 47,020 41,397 Net Income Per Common Share (Note 10): Basic $ 1.03 $ 0.55 $ 2.06 $ 1.82 Diluted $ 1.03 $ 0.55 $ 2.05 $ 1.80 Shares Used to Compute Net Income Per Common Share (Note 10): Basic 22,836 22,786 22,829 22,770 Diluted 22,923 22,930 22,936 22,956 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net Income $ 23,606 $ 12,571 $ 47,020 $ 41,397 Other Comprehensiv