Surfactant and Specialty Products Growth
Surfactant and Specialty Products segments delivered double-digit adjusted EBITDA growth. Surfactant net sales increased by 10% and Specialty Product net sales increased by 11% compared to the prior year.
Volume Growth Across the Board
Overall volume grew by 4%, with Surfactants up 3%, Polymers up 7%, and MCT product line up 4%. Agricultural and oilfield end markets experienced double-digit volume growth.
Improved Financial Metrics
Adjusted EBITDA was $57.5 million, a 12% increase year-over-year. Adjusted net income was $19.3 million, up 32% year-over-year.
Successful Startup of Pasadena, Texas Site
The new Pasadena, Texas site is operational and produced six different products. The site is expected to reach full contribution in the second half of 2025.
Dividend Growth
The company paid $8.7 million in dividends and declared a quarterly cash dividend of $0.385 per share. Stepan has increased its dividend for 57 consecutive years.