Brief: Stepan Reports Q2 Adjusted Earnings Per Share $1.50

Stepan

24/07/2019 12:23

July 24 (Reuters) - Stepan Co  SCL.N :
    * STEPAN REPORTS SECOND QUARTER RESULTS AND FIRST HALF EARNINGS
    * Q2 ADJUSTED EARNINGS PER SHARE $1.50
    * Q2 EARNINGS PER SHARE $1.30
    * Q2 EARNINGS PER SHARE ESTIMATE $1.34 -- REFINITIV IBES DATA
    * STEPAN Q2 SURFACTANT SALES VOLUME DOWN 8% MOSTLY DUE TO EXIT FROM
SULFONATION
BUSINESS IN GERMANY, LOWER DEMAND IN SOME NORTH AMERICAN END MARKETS
    * BELIEVE FULL YEAR SPECIALTY PRODUCT RESULTS WILL IMPROVE VERSUS 2018 
    * OVERALL, WE REMAIN CAUTIOUSLY OPTIMISTIC ABOUT BALANCE OF YEAR
    * ECATEPEC FACILITY IS NOW FULLY OPERATIONAL AND COMPANY'S INSURANCE
PROVIDER HAS
ACKNOWLEDGED THIS INCIDENT IS A COVERED EVENT
    * QTRLY NET SALES $473 MILLION VERSUS $519.9 MILLION AS ADJUSTED
    * Q2 REVENUE VIEW $519.2 MILLION -- REFINITIV IBES DATA
    * FY CAPITAL EXPENDITURES ARE EXPECTED TO BE IN RANGE OF $110 MILLION AND
$130
MILLION

Source text for Eikon:  ID:nPn1yhKpNa 
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