Every material Form 8-K Stepan has filed with the SEC since January 29, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Stepan reported third quarter 2026 net sales of $692.2 million, up 17%, and net income of $17.8 million, up 64%, with diluted EPS of $0.78 versus $0.47. Nine-month results were a net loss of $0.7 million because of a $76.1 million pre-tax restructuring charge tied to Project Catalyst, and the company said it expects full-year Adjusted EBITDA growth and positive free cash flow in 2026. The board also declared a $0.405 quarterly dividend, a $0.010 increase.
Q3 2026 net sales $692.2 million, up 17% year-over-year; Q3 Adjusted EBITDA $66.3 million, up 18%
Nine months 2026 net loss of $0.7 million versus $41.9 million of income in 2025, driven by a $76.1 million pre-tax restructuring charge
Quarterly dividend of $0.405 per share, payable December 15, 2026, to holders of record on December 1, 2026; 59th consecutive annual increase
Company expects full-year 2026 Adjusted EBITDA growth, positive free cash flow and continued balance sheet de-leveraging
Stepan entered into a new Credit Agreement on September 25, 2026, providing $500.0 million in initial committed facilities: a $350.0 million multicurrency revolver and a $150.0 million delayed draw term loan, both maturing September 25, 2031. The new facilities replace its $350.0 million revolver and $100.0 million delayed draw term loan under a June 24, 2022 agreement, and include an option for up to an additional $250.0 million, giving the company expanded, longer-dated borrowing capacity.
Initial facilities total $500.0 million: $350.0 million revolver and $150.0 million delayed draw term loan, both maturing September 25, 2031
Replaces the $350.0 million revolver and $100.0 million delayed draw term loan from a June 24, 2022 credit agreement
Expansion option allows up to an additional $250.0 million, subject to certain requirements
Loans priced at spreads of 1.125% to 1.625% over term benchmark rates, depending on net leverage ratio; covenants include interest coverage and net leverage ratios
Stepan reported second-quarter 2026 net income of $22.9 million, up 102% from a year earlier, on net sales of $684.1 million, up 15%. The first half was a net loss of $18.5 million, driven by a $70.5 million pre-tax restructuring charge tied to Project Catalyst, and the company also announced a plan to cut about 100 salaried roles, declared a $0.395 quarterly dividend, and reported a board resignation and a new principal accounting officer.
Q2 2026 diluted EPS was $1.00 versus $0.50; adjusted EPS was $1.18 versus $0.52.
Q2 adjusted EBITDA was $74.4 million, up 45%, and management said it expects full-year 2026 adjusted EBITDA growth.
Full-year Project Catalyst restructuring charges are expected to be $75.0 million to $80.0 million, with about $4 million to $6 million tied to the workforce reduction.
Jan Stern Reed resigned from the board on July 27, 2026; Matthew J. Eaken was named principal accounting officer effective July 28, 2026.
Stepan Company reported a first-quarter 2026 net loss of $41.4 million, or $1.81 per diluted share, compared with net income of $19.7 million a year earlier, after a $65.4 million pre-tax restructuring charge tied to previously announced plant closures. Net sales rose 2% to $604.5 million, but adjusted net income fell 47% to $10.3 million, and the company also declared a quarterly dividend of $0.395 per share.
Net loss of $41.4 million ($1.81 per diluted share) versus net income of $19.7 million ($0.86 per share) in Q1 2025; the loss includes a $65.4 million pre-tax restructuring charge
Adjusted net income of $10.3 million ($0.45 per diluted share), down 47% from $19.3 million; adjusted EBITDA of $49.6 million, down 14%
Net sales rose 2% to $604.5 million, driven by higher selling prices and currency translation; organic sales volume was flat
Board declared a quarterly dividend of $0.395 per share, payable June 15, 2026, to holders of record on June 1, 2026
Stepan Company approved Project Catalyst, a plan targeting about $100 million in pre-tax savings over two years. The plan closes its Fieldsboro, New Jersey site and decommissions select assets at Elwood, Illinois and Stalybridge, United Kingdom, with completion expected by mid-2026. The company expects $70 to $80 million in restructuring charges in 2026, which will weigh on near-term results against the projected savings.
Target of approximately $100 million in pre-tax savings over the next two years
Restructuring charges of $70 to $80 million expected in 2026, with about $52 to $62 million in the three months ending March 31, 2026
Projected cash impacts of $29 to $44 million and non-cash impacts of $58 to $62 million over the project
Fieldsboro site closure and asset decommissioning expected to be completed by mid-2026
Stepan reported fourth-quarter and full-year 2025 results and announced Project Catalyst, a plan it says is expected to deliver about $100 million in pre-tax savings over two years, including closing its Fieldsboro, NJ site. Full-year 2025 net income fell 7% to $46.9 million and adjusted earnings per diluted share fell 17% to $1.82, while net sales rose 7% to $2.33 billion. The company also declared a $0.395 quarterly dividend payable March 13, 2026.
Q4 2025 net income was $5.0 million, up 49%; adjusted net income was a $0.5 million loss versus $2.8 million of income a year earlier
Full-year 2025 adjusted EBITDA was $198.9 million, up 6%; net sales were $2.33 billion, up 7%
Project Catalyst is expected to deliver about $100 million in pre-tax savings over two years and includes closing the Fieldsboro, NJ site
Quarterly dividend of $0.395 per share is payable March 13, 2026, to holders of record on March 2, 2026
Stepan Company's Board approved a Key Executive Severance Benefit Plan effective November 26, 2025, covering selected employees, including its named executive officers. The plan sets cash severance and health benefits for qualifying involuntary or constructive terminations, with larger payments if the termination occurs within 24 months after a change in control. The filing does not report any executive departure or any dollar cost of the plan.
Plan approved by the Board on November 26, 2025, on the recommendation of the Human Capital and Compensation Committee
Tier 1 executives receive 18 months of severance without cause or 36 months after a change in control; Tier 2 receives 12 or 24 months
Mr. Rojo is designated Tier 1; all other current executives are Tier 2
Stepan Company disclosed that Samuel S. Hinrichsen, who served as Vice President and Interim Chief Financial Officer from October 30, 2024 to July 15, 2025 and then as Global Vice President, Finance and Investor Relations, resigned on October 10, 2025, effective October 31, 2025. The company said the resignation was not due to any disagreement on its operations, policies, or practices, and the filing does not name a successor.
Samuel S. Hinrichsen notified Stepan of his resignation on October 10, 2025, effective October 31, 2025.
Hinrichsen was Interim Chief Financial Officer from October 30, 2024 to July 15, 2025, then became Global Vice President, Finance and Investor Relations.
The filing states the resignation was not the result of any disagreement with Stepan on its operations, policies, or practices.
Stepan reported second-quarter 2025 net income of $11.3 million, up 19% from a year earlier, and diluted EPS of $0.50 versus $0.42. Net sales rose 7% to $594.7 million, but operating income fell 4% to $18.0 million and free cash flow was negative $14.4 million. The board also declared a $0.385 per share quarterly dividend, payable September 15, 2025.
Net sales were $594.7 million, up 7% year over year; net income was $11.3 million, up 19%; diluted EPS was $0.50 versus $0.42.
Operating income fell 4% to $18.0 million from $18.7 million, while pre-tax earnings were hit by $6.1 million in start-up and remediation costs.
Free cash flow was negative $14.4 million for the quarter, mainly due to higher working capital needs.
Board declared a quarterly dividend of $0.385 per share, payable September 15, 2025, to holders of record on August 29, 2025.
Stepan Company appointed Ruben Velasquez as Vice President and Chief Financial Officer, effective July 15, 2025, succeeding Samuel Hinrichsen, who has served as interim CFO and will remain Vice President of Finance. The filing discloses his pay package, including a $475,000 base salary and a target annual incentive of 75% of salary, which matters to shareholders as it sets the compensation terms for the company's top finance executive. The filing reports no financial results or guidance.
Ruben Velasquez becomes Vice President and CFO effective July 15, 2025, succeeding interim CFO Samuel Hinrichsen
Annual base salary of $475,000 with a target annual incentive award of 75% of base salary
Initial August 2025 long-term grant: $200,000 in restricted stock units, $100,000 in performance shares and $100,000 in stock appreciation rights
Velasquez previously served as Vice President Global Finance Transformation at 3M Company from 2022 through 2024
Stepan Company increased its board from seven to eight directors and appointed Corning Painter as a Director, effective immediately, with seats on four board committees. Mr. Painter is CEO of Orion S.A. and previously served as an Executive Vice President at Air Products and Chemicals. The filing describes a board addition rather than a change in management or company finances.
Corning Painter appointed Director effective June 9, 2025; board increased by one to eight Directors
Mr. Painter named to Audit, Compliance, Human Capital and Compensation, and Nominating and Corporate Governance Committees
Mr. Painter is CEO of Orion S.A., a role held since September 2018
Director compensation follows arrangements described in the March 25, 2025 proxy statement
At its April 29, 2025 annual meeting, Stepan's stockholders approved an amended and restated 2022 Equity Incentive Compensation Plan, which took effect that day, and elected two directors to terms running to 2028. Shareholders also backed the executive pay advisory vote and the auditor ratification, so the filing records routine governance outcomes rather than a change in operations.
Equity Incentive Compensation Plan amendment approved: 16,752,352 for, 1,005,426 against, 359,126 abstain, 1,981,785 broker non-votes
Lorinda A. Burgess (17,711,569 for) and Luis E. Rojo (17,914,304 for) elected as directors until the 2028 annual meeting
Advisory vote on named executive officer compensation: 17,431,991 for, 335,992 against, 348,921 abstain
Deloitte & Touche LLP ratified as independent auditor for 2025: 19,546,631 for, 538,530 against, 13,528 abstain
Stepan reported first-quarter 2025 results, with net sales of $593.3 million, up 8% year over year, and net income of $19.7 million, up 42%. The company also declared a quarterly dividend of $0.385 per share, its 57th consecutive year of dividend increases, but free cash flow was negative $25.8 million for the quarter.
Diluted EPS was $0.86 versus $0.61 a year earlier; adjusted EPS was $0.84 versus $0.64.
Sales volume rose 4% and selling prices and mix added 7%, partly offset by a 3% foreign currency translation hit.
Free cash flow was negative $25.8 million, driven by higher working capital; cash from operations was $6.9 million.
Dividend of $0.385 per share is payable June 13, 2025, to holders of record on May 30, 2025.
Stepan Company director Edward J. Wehmer will retire from the Board at the 2025 Annual Meeting of Stockholders, scheduled for April 29, 2025, and will not stand for re-election. The filing says the decision was not due to any disagreement with the Company. The Board will shrink from eight to seven directors, and Randall S. Dearth will become Lead Independent Director.
Wehmer notified the Board on February 18, 2025 and will serve until the April 29, 2025 Annual Meeting
Wehmer joined the Board in 2003, was Lead Independent Director since 2016, and chaired the Audit Committee from 2007 to 2023
Board size will fall from eight to seven directors upon his retirement
Randall S. Dearth will succeed Wehmer as Lead Independent Director
Stepan reported fourth-quarter 2024 net sales of $525.6 million, down 1% from a year earlier, and reported net income of $3.4 million versus a $1.2 million loss in the prior year. Adjusted net income fell 63% to $2.8 million, mainly due to pre-commissioning costs at its new Pasadena, Texas facility, a $2.9 million Latin American tax reserve and CEO transition expenses. The company also declared a quarterly dividend of $0.385 per share, payable March 14, 2025.
Q4 2024 net sales were $525.6 million, down 1% year over year; Polymers sales fell 12%
Q4 2024 reported net income was $3.4 million ($0.15 per diluted share) versus a $1.2 million loss a year earlier
Full-year 2024 net income rose 25% to $50.4 million, while full-year net sales fell 6% to $2.18 billion
Quarterly cash dividend of $0.385 per share payable March 14, 2025 to holders of record on March 3, 2025
Stepan Company said its Vice President, General Counsel and Secretary, David G. Kabbes, will retire effective March 14, 2025. He will remain in his day-to-day role until then and provide transition support for at least three months afterward, while the company searches for a successor.
David G. Kabbes, Vice President, General Counsel and Secretary, retires effective March 14, 2025
Kabbes will provide transition support for at least three months after retirement
Company has begun an internal and external search for a successor
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