Stepan Company

Stepan Company reported second-quarter 2026 adjusted EBITDA of $74.4 million, a 45% increase from the prior year, driven by broad-based volume growth, margin recovery, and Project Catalyst savings. Adjusted net income rose 126% to $27.1 million, or $1.18 per diluted share, while net sales increased 15% to $684.1 million. Organic sales volume grew 6%, with surfactants up 7% and polymers up 5%, though management estimated $5 million to $10 million of EBITDA was pulled forward from the third quarter due to geopolitical uncertainty. The company announced a workforce reduction of 100 salaried positions as part of its Project Catalyst efficiency initiative, which targets $60 million in pretax savings for 2026 out of a broader $100 million two-year program. Stepan ended the quarter with a net leverage ratio of 2.5 times, down from 2.7 times in the prior quarter, and paid $9 million in dividends, marking its 58th consecutive year of dividend increases.