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Stepan Company (SCL) investor relations material
Stepan Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Q3 2025 net income was $10.8 million, down 54% year-over-year, mainly due to a higher effective tax rate and increased interest expense; adjusted net income was $10.9 million.
Adjusted EBITDA for Q3 2025 was $56.2 million, up 6% year-over-year, driven by Specialty Products and Crop Productivity, despite higher raw material and start-up costs at the Pasadena facility.
Net sales rose 8% to $590.3 million, with global sales volume up 1% year-over-year, supported by higher average selling prices and favorable foreign currency translation.
Free cash flow improved to $40.2 million, up from negative $4.0 million in the prior year, driven by reductions in working capital.
Pasadena, Texas alkoxylation facility ramped up production, incurring $8.6 million in start-up costs; sale of Philippines assets expected to close in Q4 2025.
Financial highlights
Q3 2025 net income: $10.8 million ($0.47 per share); adjusted net income: $10.9 million ($0.48 per share), both down 54% year-over-year.
Q3 2025 adjusted EBITDA: $56.2 million, up 6% year-over-year.
Q3 2025 net sales: $590.3 million (+8% YoY); gross profit: $71.0 million (down from $75.7 million YoY).
Cash from operations was $69.8 million for the quarter; cash and cash equivalents at quarter end: $118.5 million.
Free cash flow for Q3 was $40.2 million; net debt at September 30, 2025: $537 million; net debt ratio: 30%.
Outlook and guidance
Full-year 2025 adjusted EBITDA growth and positive free cash flow are anticipated.
Capital expenditures for 2025 are forecasted at $118–123 million; debt repayments planned at $69 million.
Margin recovery in surfactants expected to continue into 2026 as raw material prices normalize; Pasadena facility to reach full contribution in 2026.
Management expects improving Polymer demand if interest rates decline and construction activity rebounds.
Effective tax rate expected to normalize at 24–26% due to new US tax legislation and lower R&D credits.
Pasadena's full financial contribution timeline
Future asset rationalization strategy details
Surfactant long-term EBITDA margin outlook?
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Next Stepan Company earnings date
Q4 202518 Feb, 2026
Next Stepan Company earnings date
Q4 202518 Feb, 2026
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Frequently asked questions
Stepan Company, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. The company offers surfactants for use in detergents, degreasers, wetting agents, emulsifiers, shampoos and conditioners, toothpaste, topical medications, paints and coatings, agricultural products, textile fiber finishes, industrial cleaners and specialized applications; polymer additives comprising lubricating oils for use in automotive engine oils; and various compounds derived from natural oils used as liquid or powder flavoring extracts. It also provides polymers used in road construction; and water purification media. Stepan Company was founded in 1932 and is headquartered in Northbrook, Illinois.
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