Stepan reports Q1 adjusted EPS 45c vs. 84c last year

Reports Q1 revenue $604.51M vs. $593.26M last year. “We are executing Project Catalyst safely and in line with expectations despite early quarter weather-related impacts and the new geopolitical challenges. Global adjusted EBITDA was down $7.9M, or 14%, driven by our Surfactants business. Specialty Products volume was up 30% versus prior year while EBITDA was down due to product mix and higher raw material costs,” said CEO Luis Rojo. “On a total Company basis, organic net sales, which exclude the impact of the asset divestiture in the Philippines, were up 4% and organic sales volume was flat year-over-year. Strong growth in Crop Productivity, Oilfield and Industrial Cleaning was offset by European Polymers volume. We are pleased with the growth we achieved in several of our key strategic end markets despite ongoing global economic uncertainties and supply chain disruptions. We are continuing our efforts to further optimize our asset base and create a more productive and agile organization to enable balanced growth.”