Northfield, Illinois — Stepan, which makes polyols for polyurethanes generated sales of $415.6m in the third quarter of 2019. This is lower by 18% than the same period in 2018.
Operating Income across the business rose 3% and hit $28m the third quarter of 2019.
The fall in income and sales came about as restructuring in other divisions hit the year to year performance.
The Polymer business had a strong third quarter driven by global rigid polyol growth, said Quinn Stepan, CEO.
Although, the company's polymers business had sales fell by 5% between the third quarter of 2018 and 2019 to $135.1 m; operating income increased by 21%. It hit $23.3m in the third quarter of 2019. This compares with $19.3m the 2018 period.
