Stepan Q2 Net Profit Increases

(RTTNews) - Specialty and intermediate chemicals firm Stepan Co. (SCL) announced higher second-quarter net income of $22.7 million, or $0.99 a share, versus $21.4 million, or $0.94 a share, in the year-ago quarter. Net income, excluding deferred compensation plan income, totaled $20.4 million, or $0.89 per share in the quarter. On average, 2 analysts polled by Thomson Reuters expected earnings per share of $1.01 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net sales amounted to $474.44 million, a 1% increase from last year's $470.23 million. Sales volume grew by 4 percent for the quarter.