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STEPAN REVISES 1993 OUTLOOK

 NORTHFIELD, Ill., Nov. 18 /PRNewswire/ -- Stepan Company (AMEX: SCL) today reported a revised outlook for 1993 earnings.
 The company previously indicated that it expected 1993 pre-tax earnings to be flat compared to those of the prior year, excluding the unusual charges recorded in the fourth quarter of 1992. Results for the 1993 fourth quarter are now expected to break even or sustain a slight loss. After-tax earnings, before accounting changes, through the first nine months of 1993 were $2.10 per share, compared with $2.13 for the same period in 1992. Total 1992 per share earnings were a record $2.93.
 F. Quinn Stepan, chairman and president, stated the reason for this revision is that "phthalic anhydride (PA) margins have narrowed due to low-cost imported material, and that PA production was interrupted because of an unscheduled production outage." At this time, a decision has been made to replace some older components of the PA operation and to recatalize two reactors. This will take approximately six months during which time the PA plant will remain in operation. This will result in a more reliable PA plant with improved product quality. In addition, earnings from domestic surfactant sales, the company's major business, may fall a little short of expectations for the current quarter.
 Stepan Company is a leading producer of basic and intermediate chemicals used in household, industrial, personal care, agricultural and energy-related products. The stock is traded on the American and Chicago Stock Exchanges under the symbol SCL and on the Chicago Stock Exchange under the symbol SCLPR.
 -0- 11/18/93
 /CONTACT: Walter J. Klein of Stepan Company, 708-446-7500/
 (SCL)


CO: Stepan Company ST: Illinois IN: HOU SU: ERP

MP -- NY106 -- 6242 11/18/93 16:52 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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