Northfield, Illinois — Stepan Co’s net income in Q4 2014 was $6.2m (EUR5.4m) compared to $10.7m in Q4 2013.
Net sales declined 4% versus the prior year quarter primarily due to a 7% decrease in volume.
Reported net income was $57.1m versus $72.8m in 2013. Over the full year, net sales increased 2% on 2013 sales due to a 7% increase in selling prices although that figure was offset by a 4% decline in volume.
Full year polymer net sales were up 14% in 2014 compared to 2013 due to strong volume growth in North America and Europe. The polymer segment’s operating income for the full year was a record at $60m compared to $54m in 2013.
In terms of Q4 2014, the company reported an increase in polymer sales volume of 3% compared to Q4 2013.
In North America, sales of polyols for rigid foam insulation grew 3% in Q4 2014 versus Q4 2013 and, the report said, "continues to benefit from higher energy-efficiency standards."
North America specialty polyol volume, used in CASE applications, grew 21% in Q4 2014 compared to the final quarter of 2013. In Europe, volume was up slightly in Q4 2014 compared to Q3 2013 "despite political and economic uncertainties in the region," the report said.
Surfactant net sales declined 2% in 2014 compared to 2013 due to severe winter weather early in the year and sales volume challenges within North American consumer products.
XE Currency conversion: 20 February, 2014
