Mcdonald Capital Investors Inc. CA reduced its position in NIKE, Inc. (NYSE:NKE – Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 834,114 shares of the footwear maker’s stock after selling 26,726 shares during the quarter. NIKE comprises about 3.6% of [...]
Granite Investment Partners LLC raised its stake in shares of The Boeing Company (NYSE:BA – Free Report) by 1,984.0% during the third quarter, HoldingsChannel reports. The firm owned 31,448 shares of the aircraft producer’s stock after purchasing an additional 29,939 shares during the quarter. Granite Investment Partners LLC’s holdings in Boeing were worth $6,787,000 as [...]
Mcdonald Capital Investors Inc. CA decreased its position in Brookfield Corporation (NYSE:BN – Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,879,927 shares of the company’s stock after selling 61,165 shares during the period. Brookfield [...]
Mcdonald Capital Investors Inc. CA decreased its stake in Elevance Health, Inc. (NYSE:ELV – Free Report) by 32.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,608 shares of the company’s stock after selling 4,541 shares during the period. Elevance [...]
Granite Investment Partners LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 21.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,989 shares of the company’s stock after selling 10,334 shares during the period. Granite Investment Partners LLC’s holdings in [...]
“If they close BART, it’s an attack on the lower class,” one Dublin mother said.
US stock index futures declined on Monday as investors reacted to renewed tariff uncertainty after US President Donald Trump announced a new 15% global duty, even after a Supreme Court ruling struck down most of his earlier levies. The Supreme Court, in a 6–3 decision on Friday, voided a large portion of tariffs imposed last year, finding the emergency law used by the administration did not authorize such measures. The Court did not address potential refunds, leaving open the possibility of a roughly $170 billion gap in US finances. Using a different statute, the administration first introduced a 10% tariff and then raised it to 15%, which could remain in place for up to five months while officials search for...
The Rwandan government and Anthropic sign a 3-year MoU—their first African government partnership—to deploy AI in education, health, and public services.The post Rwanda inks MoU with Anthropic for AI in public sector appeared first on CoinGeek.
Mutuum Finance joins Bitcoin and Solana on the radar as investors rank best altcoins reshaping the cryptocurrency market ahead of the next cycle.
VANCOUVER, British Columbia, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX–V: WHN) (OTCQB: WTHVF) (“Westhaven” or the “Company”) and Dundee Corporation (TSX: DC.A) (“Dundee”) are pleased to announce the effectiveness of the definitive earn-in agreement (the “Earn-In Agreement”) granting Dundee the sole and exclusive right to acquire up to a 60% interest in Westhaven’s Shovelnose Gold Project, Prospect Valley Gold Project, Skoonka Gold Project and Skoonka North Project located in the Spences Bridge Gold Belt of southern British Columbia (collectively, the "Projects") upon the funding by Dundee of certain project expenditures totalling CDN$85,000,000, as previously announced on December 22, 2025 (linked here). Westhaven received shareholder approval of the transactions contemplated in the Earn-In Agreement on February 17, 2026, and has satisfied the other conditions to effectiveness of the Earn-In Agreement.
NORTHBROOK, Ill., Feb. 23, 2026 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Fourth Quarter 2025 HighlightsReported net income was $5.0 million, up 49% versus the prior year. Adjusted net income(1) was a $0.5 million loss, down 119% versus the prior year, largely due to higher interest expense, resulting from lower capitalized interest income recognition due to the Pasadena, TX site start-up, a less favorable effective tax rate and lower Surfactant earnings. EBITDA(2) was $43.3 million, up 21% versus the prior year. Adjusted EBITDA(2) was $33.8 million, down 3% year-over-year.Global sales volume was down 3% year-over-year. Global sales volume, excluding the impact of the Philippines asset divestiture, was flat year-over-year. Cash from Operations was $60.0 million during the quarter. Free cash flow(3) for the quarter was $25.4 million, driven by a reduction in working capital.Pre-tax earnings include $6.2 million of goodwill impairment expense related to the Company's Mexican reporting unit and $15.9 million of gains related to the previously announced Philippines and Lake Providence, LA asset divestitures.Full Year 2025 HighlightsReported net income was $46.9 million, down 7% versus the prior year. Adjusted net income(1) was $41.7 million, down 17% versus the prior year.EBITDA(2) was $208.0 million and Adjusted EBITDA(2) was $198.9 million, up 11% and 6%, respectively, year-over-year.Global sales volume was up 1% year-over-year. Global sales volume, excluding the impact of the Philippines asset divestiture, was up 2% year-over-year. "2025 was a transformational year for Stepan as we divested two plant sites and completed preliminary work that has positioned us to further optimize our footprint and asset base in 2026. Despite many challenges in 2025, we delivered growth in several of our core businesses, advanced several strategic initiatives and have an operational plan in place to accelerate profitable growth moving forward. Full year adjusted EBITDA grew 6% versus prior year despite a significant increase in oleochemical raw material costs and start-up expenses at our Pasadena site. Volume grew 1%, organic volume grew 2% and net sales were up 7% driven by pricing actions and favorable product and customer mix. We delivered $25.4 million of free cash flow and increased our dividend for the 58th consecutive year, while reducing our Net Debt by $31.7 million and our Leverage Ratio to 2.5," said Luis E. Rojo, President and Chief Executive Officer. "Fourth quarter adjusted EBITDA was down 3% primarily due to a challenging North American Surfactant environment. We continue to recover margins in Surfactants despite an unprecedented run-up in raw material costs. Polymer volume was up 11% as our Rigid, Specialty Polyols and Phthalic Anhydride businesses all delivered volume growth. I want to personally thank all of our Stepan colleagues around the world for their hard work and resilience during the year."Financial SummaryThree Months EndedDecember 31,Twelve Months EndedDecember 31,($ in thousands, except per share data)20252024%Change20252024%ChangeNet Sales$553,886$525,6095%$2,332,114$2,180,2747%Operating Income$10,502$7,69536%$78,549$70,48011%Net Income$5,004$3,35049%$46,895$50,370(7)%Earnings per Diluted Share$0.22$0.1547%$2.05$2.20(7)%Adjusted Net Income *$(531)$2,757(119)%$41,680$50,470(17)%Adjusted Earnings per Diluted Share *$(0.02)$0.12(117)%$1.82$2.20(17)%* See Table II for reconciliations of non-GAAP adjusted net income and adjusted earnings per diluted share. Percentage Change in Net SalesNet sales in the fourth quarter of 2025 increased 5% year-over-year. This increase reflects higher selling prices, that were mainly attributable to the pass-through of higher raw material costs and more favorable product mix, and the favorable impact of foreign currency translation. A 3% decline in sales volume partially offset the above. Three Months EndedDecember 31, 2025Twelve Months EndedDecember 31, 2025Volume(3)%1%Selling Price & Mix5%6%Foreign Translation3%(—)%Total5%7% Segment ResultsThree Months EndedDecember 31,Twelve Months EndedDecember 31,($ in thousands)20252024%Change20252024%ChangeNet SalesSurfactants$401,832$378,7766%$1,665,983$1,532,1159%Polymers$131,682$129,8441%$584,477$584,905(0)%Specialty Products$20,372$16,98920%$81,654$63,25429%Total Net Sales$553,886$525,6095%$2,332,114$2,180,2747%Three Months EndedDecember 31,Twelve Months EndedDecember 31,($ in thousands, all amounts pre-tax)20252024%Change20252024%ChangeOperating IncomeSurfactants$9,343$16,173(42)%$67,358$85,618(21)%Polymers$3,984$3,39617%$43,265$40,6237%Specialty Products$5,240$5,594(6)%$25,640$20,90823%Total Segment Operating Income$18,567$25,163(26)%$136,263$147,149(7)%Corporate Expenses$(8,065)$(17,468)(54)%$(57,714)$(76,669)(25)%Consolidated Operating Income$10,502$7,69536%$78,549$70,48011%Three Months EndedDecember 31,Year EndedDecember 31,($ in millions)20252024%Change20252024%ChangeEBITDA$43.3$35.821%$208.0$186.911%Adjusted EBITDA Surfactants$32.1$34.7(7)%$153.0$157.6(3)% Polymers$12.4$11.49%$76.4$73.05% Specialty Products$6.7$7.1(6)%$31.5$26.917% Unallocated Corporate$(17.4)$(18.2)(4)%$(62.0)$(70.5)(12)%Consolidated Adjusted EBITDA$33.8$35.0(3)%$198.9$187.06% Consolidated adjusted EBITDA(2) decreased $1.2 million, or 3%, in the quarter. This decrease was primarily due to a 7% decline in Surfactant sales volume, driven by lower demand in the global commodity Laundry & Cleaning end markets. Polymer sales volume growth of 11% and lower corporate expenses partially offset the above. Surfactant net sales were $401.8 million for the quarter, a 6% increase versus the prior year. Selling prices were up 10% primarily due to pass through of higher raw material costs, improved product and customer mix, along with pricing actions. Sales volume declined 7% year-over-year primarily due to lower demand within the commodity Laundry & Cleaning end markets, lower demand from our distribution partners and lower volume in the Philippines due to the asset divestiture. Excluding the impact of the Philippines, organic volume declined 3%. These declines were partially offset by double digit growth within the Industrial Cleaning end markets and year-over-year growth within the Agricultural and Oilfield end markets. Foreign currency translation positively impacted net sales by 3%. Surfactant adjusted EBITDA(2) for the quarter decreased $2.6 million, or 7%, versus the prior year. This decrease was primarily due to the 7% decrease in sales volume. Polymer net sales were $131.7 million for the quarter, a 1% increase versus the prior year. Selling prices decreased 12%, primarily due to the pass-through of lower raw material costs and competitive pressures. Sales volume increased 11% in the quarter. North American Rigid and commodity Phthalic Anhydride sales volume was up double digits year-over-year. Foreign currency translation positively impacted net sales by 2% during the quarter. Polymer adjusted EBITDA(2) increased $1.0 million, or 9%, versus the prior year primarily due to the 11% increase in sales volume. Specialty Products net sales were $20.4 million for the quarter, a 20% increase versus the prior year, primarily due to higher sales volume. Specialty Products adjusted EBITDA(2) decreased $0.4 million, or 6%. The decrease in adjusted EBITDA(2) was primarily due to lower margins resulting from order timing fluctuations within the pharmaceutical business.Income Taxes The Company's effective tax rate was 21.7% in 2025 versus 16.7% in 2024. This increase was primarily attributable to the non-recurrence of favorable deferred tax adjustments recognized in 2024.Outlook "As we look forward to 2026, we remain focused on delivering superior shareholder returns with a balanced approach between top line growth and productivity cost out efforts. Today we announced Project Catalyst, which is a comprehensive plan designed to further optimize our asset base and create a more productive and agile organization to enable growth. Project Catalyst is expected to deliver approximately $100 million in pre-tax savings over the next two years. As part of Project Catalyst, Stepan will close its Fieldsboro, NJ site and decommission select assets at its Millsdale, IL and Stalybridge, UK facilities. Additionally, we are analyzing other opportunities to optimize our asset base, organization structure and operating model. We will announce future interventions once approved plans are in place," said Luis E. Rojo, President and Chief Executive Officer. "With these actions, we believe we are positioned to deliver full year Adjusted EBITDA growth and positive free cash flow in 2026, despite the ongoing market and tariff uncertainties."Notes(1) Adjusted net income and adjusted earnings per share are non-GAAP measures which exclude deferred compensation income/expense, certain environmental remediation-related costs as well as other significant and infrequent/non-recurring items. See Table II for reconciliations of non-GAAP adjusted net income and adjusted earnings per diluted share.(2) EBITDA and adjusted EBITDA are non-GAAP measures. See Table VI for calculations and GAAP reconciliations of EBITDA and adjusted EBITDA.(3) Free cash flow is a non-GAAP measure and reflects cash generated from operations minus capital expenditures. Cash generated from operations was $60.0 million during the fourth quarter of 2025 and capital expenditures were $34.6 million. Conference CallStepan Company will host a conference call to discuss its third quarter results at 9:00 a.m. ET (8:00 a.m. CT) on February 23, 2026. The call can be accessed by phone and webcast. To access the call by phone, please click on this Registration Link, complete the form and you will be provided with dial in details and a PIN. To avoid delays, we encourage participants to dial into the conference call ten minutes ahead of the scheduled start time. The webcast can be accessed through the Investors/Conference Calls page at www.stepan.com. A webcast replay of the conference call will be available at the same location shortly after the call.Supporting SlidesSlides supporting this press release will be made available at www.stepan.com through the Investors/Presentations page at approximately the same time as this press release is issued.Corporate ProfileStepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection compounds and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.Headquartered in Northbrook, Illinois, Stepan utilizes a network of modern production facilities located in North and South America, Europe and Asia. The Company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.comMore information about Stepan's sustainability program can be found on the Sustainability page at www.stepan.com. Certain information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements about Stepan Company's plans, objectives, strategies, financial performance and outlook, trends, the amount and timing of future cash distributions, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, Stepan Company's actual financial results, performance, achievements or prospects may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "guidance," "predict," "potential," "continue," "likely," "will," "would," "should," "illustrative" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Stepan Company and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. These statements are not guarantees of future performance, and stockholders should not place undue reliance on forward-looking statements.There are a number of risks, uncertainties and other important factors, many of which are beyond Stepan Company's control, that could cause actual results to differ materially from the forward-looking statements contained in this news release. Such risks, uncertainties and other important factors include, among other factors, the risks, uncertainties and factors described in Stepan Company's Form 10-K, Form 10-Q and Form 8-K reports and exhibits to those reports, and include (but are not limited to) risks and uncertainties related to accidents, unplanned production shutdowns or disruptions in manufacturing facilities; reduced demand due to customer product reformulations or new technologies; our inability to successfully develop or introduce new products; compliance with laws; our ability to identify suitable acquisition candidates and successfully complete and integrate acquisitions; global competition; volatility of raw material and energy costs and supply; disruptions in transportation or significant changes in transportation costs; downturns in certain industries and general economic downturns; international business risks, including currency exchange rate fluctuations, changes in global trade policies, including tariffs; legal restrictions and taxes; unfavorable resolution of litigation against us; maintaining and protecting intellectual property rights; our ability to access capital markets; global political, military, security or other instability; costs related to expansion or other capital projects; interruption or breaches of information technology systems; our ability to retain executive management and key personnel; and our debt covenants. In addition to the risks described in the Company's periodic reports, the restructuring actions described herein may involve risks related to the execution of facility closures and asset decommissioning, potential operational disruptions, impacts on employees and local communities, environmental compliance, and the realization of anticipated cost savings and efficiencies.These forward-looking statements are made only as of the date hereof, and Stepan Company undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.* * * * *Tables followTable ISTEPAN COMPANYFor the Three and Twelve Months Ended December 31, 2025 and 2024(Unaudited – in 000's, except per share data)Three Months EndedDecember 31,Twelve Months EndedDecember 31,2025202420252024Net Sales$553,886$525,609$2,332,114$2,180,274Cost of Sales502,369468,9132,062,2261,908,060Gross Profit51,51756,696269,888272,214Operating Expenses:SellingFull story available on Benzinga.com
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