Filing Flows › Stepan (SCL) › Q3 2026 › vs Q2 2026
Stepan (SCL) Q3 2026 vs Q2 2026 (quarter over quarter)
Stepan's revenue rose $8.0M (+1%) from $684M in Q2 2026 to $692M in Q3 2026. The biggest changes: Specialty Products +$4.7M (+21%); Surfactants +$2.7M (+0.6%); Polymers +$643K (+0.4%). Gross margin 12.7% against 14.6% (-2.0 pts).
Stepan, Q3 2026: revenue $692M (+17% year over year), operating margin 3.8%, net earnings $17.8M, operating cash flow $29.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 12.7% | 14.6% | -2.0 pts |
| Operating margin | 3.8% | 5.4% | -1.7 pts |
| Net margin | 2.6% | 3.3% | -0.8 pts |
| Free cash flow margin | 1.2% | -2.2% | +3.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Surfactants | $487M | $484M | $2.7M | +0.6% |
| Polymers | $179M | $178M | $643K | +0.4% |
| Specialty Products | $26.9M | $22.2M | $4.7M | +21% |
| Revenue | $692M | $684M | $8.0M | +1% |
| Gross profit | $87.6M | $100M | −$12.4M | -12% |
| Cost of revenue | $605M | $584M | $20.4M | +4% |
| Operating profit | $26.0M | $37.2M | −$11.3M | -30% |
| Operating expenses | $61.6M | $62.8M | −$1.1M | -2% |
| Pre-tax earnings | $19.8M | $32.5M | −$12.7M | -39% |
| Other expense, net | $6.1M | $4.7M | $1.5M | +32% |
| Sales & marketing | $13.7M | $14.9M | −$1.1M | -8% |
| General & admin | $26.6M | $24.2M | $2.4M | +10% |
| Other operating costs | $21.3M | $23.7M | −$2.4M | -10% |
| Net earnings | $17.8M | $22.9M | −$5.1M | -22% |
| Income tax | $2.0M | $9.6M | −$7.6M | -79% |
| Operating cash sources | $51.3M | $55.9M | −$4.7M | -8% |
| Depreciation & amortization | $31.3M | $30.9M | $369K | +1% |
| Share-based compensation | $2.2M | $2.1M | $50K | +2% |
| Working capital & other | $21.9M | $47.6M | −$25.7M | -54% |
| Operating cash flow | $29.3M | $8.4M | $21.0M | +251% |
| Free cash flow (OCF − capex) | $8.2M | −$15.0M | $23.2M | — |
| Capital expenditures | $21.2M | $23.4M | −$2.3M | -10% |
Questions
How much did Stepan's revenue grow quarter over quarter in Q3 2026?
Stepan's revenue rose $8.0M (+1%) from $684M in Q2 2026 to $692M in Q3 2026.
What drove Stepan's revenue change in Q3 2026?
Specialty Products +$4.7M (+21%); Surfactants +$2.7M (+0.6%); Polymers +$643K (+0.4%).