Northfield, Illinois – Stepan, which makes polyols, generated $537.7m in sales during the first quarter of 2021. This is up 19.5% on the same period last year.
Business on the up at Stepan in Q1
Operating income across the business rose by 34.8% to $53.9m in the first quarter of 2021.
The company said that this was the result of a 32% increase in volume compared with the first quarter of 2020, and this reflects a gradual recovery from coronavirus related delays, and the cancellation of re-roofing and new projects. Its Invista purchase in February also helped the numbers. Stripping out the effects of that purchase, Stepan said the volume of polyols for rigid projects was up 8%, and speciality polyols were up 10%
In the company's polymers business, sales rose by 41.2% between the first quarter of 2020 and the first quarter of 2021, to $150.4m. This compares with $106.5m in the equivalent period in 2020.
Operating income in the division rose by 139% to $17.9m in the first quarter of 2021. This compares with $8m in the 2020 quarter.