Filing Flows › Stepan (SCL) › Q2 2026 › vs Q1 2026
Stepan (SCL) Q2 2026 vs Q1 2026 (quarter over quarter)
Stepan's revenue rose $79.6M (+13%) from $605M in Q1 2026 to $684M in Q2 2026. The biggest changes: Polymers +$48.0M (+37%); Surfactants +$30.2M (+7%); Specialty Products +$1.4M (+7%). Gross margin 14.6% against 10.7% (+3.9 pts).
Stepan, Q2 2026: revenue $684M (+15% year over year), operating margin 5.4%, net earnings $22.9M, operating cash flow $8.4M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 14.6% | 10.7% | +3.9 pts |
| Operating margin | 5.4% | -8.2% | +13.6 pts |
| Net margin | 3.3% | -6.8% | +10.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Surfactants | $484M | $454M | $30.2M | +7% |
| Polymers | $178M | $130M | $48.0M | +37% |
| Specialty Products | $22.2M | $20.8M | $1.4M | +7% |
| Revenue | $684M | $605M | $79.6M | +13% |
| Gross profit | $100M | $64.9M | $35.1M | +54% |
| Cost of revenue | $584M | $540M | $44.5M | +8% |
| Operating profit | $37.2M | −$49.6M | $86.8M | — |
| Operating expenses | $62.8M | $114M | −$51.7M | -45% |
| Pre-tax earnings | $32.5M | −$54.5M | $87.0M | — |
| Other expense, net | $4.7M | $4.9M | −$206K | -4% |
| Sales & marketing | $14.9M | $12.2M | $2.7M | +22% |
| General & admin | $24.2M | $21.3M | $2.9M | +14% |
| Other operating costs | $23.7M | $81.0M | −$57.3M | -71% |
| Net earnings | $22.9M | −$41.4M | $64.3M | — |
| Income tax | $9.6M | −$13.1M | $22.7M | — |
| Operating cash sources | $55.9M | −$7.0M | $62.9M | — |
| Depreciation & amortization | $30.9M | $32.9M | −$2.0M | -6% |
| Share-based compensation | $2.1M | $1.5M | $614K | +41% |
| Working capital & other | $47.6M | −$23.9M | $71.5M | — |
| Operating cash flow | $8.4M | $16.9M | −$8.6M | -51% |
| Capital expenditures | $23.4M | $30.9M | −$7.5M | -24% |
| Negative free cash flow (OCF − capex) | $15.0M | $14.0M | $1.1M | +8% |
Questions
How much did Stepan's revenue grow quarter over quarter in Q2 2026?
Stepan's revenue rose $79.6M (+13%) from $605M in Q1 2026 to $684M in Q2 2026.
What drove Stepan's revenue change in Q2 2026?
Polymers +$48.0M (+37%); Surfactants +$30.2M (+7%); Specialty Products +$1.4M (+7%).