Stepan Reports Record Second Quarter Results and Record First Half Earnings prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Stepan Reports Record Fourth Quarter Results and Full Year 2020 Earnings
News provided by
Share this article
Fourth Quarter Highlights
Reported net income was $30.4 million, or $1.30 per diluted share versus $22.0 million, or $0.95 per diluted share, in the prior year. Adjusted net income was $33.1 million, or $1.42 per diluted share versus $25.7 million, or $1.10 per diluted share, in the prior year. Total Company sales volume increased 7% versus the prior year.
Surfactant operating income was $43.3 million versus $33.9 million in the prior year. This increase was primarily attributable to an 8% increase in global sales volume as well as improved product and customer mix. The sales volume growth was principally due to higher demand for cleaning, disinfection and personal wash products as a result of COVID-19.