Stepan(US:SCL)2025-04-29 16:06Financial Performance Highlights - Reported net income increased by 42% year-over-year to $197 million[8] - Adjusted net income rose by 32% year-over-year to $193 million, driven by volume growth in Surfactants, Polymers, and MCT business[8] - EBITDA increased by 16% year-over-year to $580 million, while Adjusted EBITDA increased by 12% year-over-year to $575 million[9] - Global sales volume grew by 4% year-over-year, with Surfactants up 3%, Polymers up 7%, and MCT up 4%[10] - Free cash flow was negative $258 million, compared to positive $114 million in the prior year, due to higher working capital[11] Segment Performance - Surfactants net sales increased from $3908 million to $4303 million, with volume up 3%[20,24] - Polymers volume increased by 7%, but price/mix was impacted by lower raw material costs and competitive pressures[29] - Specialty Products saw increased results due to margin recovery and 4% volume growth in the MCT product line[19] Strategic Initiatives - The Pasadena, Texas site is now operational and will be critical to grow the specialty alkoxylation business[12] - The company has invested $265 million in capital expenditures for the new alkoxylation capacity in Pasadena, Texas, with an annual capacity of 75KTA[40]