Brief: Stepan Reports Q2 Adjusted Earnings Per Share $1.65

Stepan

22/07/2020 12:20

July 22 (Reuters) - Stepan Co  SCL.N :
    * STEPAN REPORTS RECORD QUARTERLY RESULTS AND FIRST HALF
EARNINGS
    * Q2 ADJUSTED EARNINGS PER SHARE $1.65
    * Q2 EARNINGS PER SHARE $1.54
    * Q2 EARNINGS PER SHARE ESTIMATE $1.20 -- REFINITIV IBES
DATA
    * QTRLY TOTAL COMPANY SALES VOLUME INCREASED 4% VERSUS PRIOR
YEAR
    * QTRLY NET SALES $460.5 MILLION VERSUS $473 MILLION
    * EFFECT OF FOREIGN CURRENCY TRANSLATION NEGATIVELY IMPACTED
NET
SALES BY 4% IN QUARTER
    * STEPAN - SEES DEMAND FOR SURFACTANTS WITHIN AGRICULTURAL
MARKET
WILL APPROXIMATE LAST YEAR AND OILFIELD MARKET WILL REMAIN DOWN
FOR BALANCE OF 2020
    * STEPAN - CONTINUE TO ANTICIPATE HIGHER NORTH AMERICAN
COSTS DUE
TO THE ILLINOIS RIVER LOCK CLOSURE OCCURRING DURING H2 2020
    * STEPAN - SEES SPECIALTY PRODUCT BUSINESS TO APPROXIMATE
PRIOR
YEAR RESULTS
    * Q2 REVENUE VIEW $451.3 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nPnbPkkF2a 
Further company coverage:  SCL.N 

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