SCL earnings

NORTHBROOK, Ill., April 28, 2026 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: First Quarter 2026 HighlightsReported net income was a $41.4 million loss versus $19.7 million of income in the prior year.  The current year loss resulted from a previously announced $65.4 million pre-tax restructuring charge.   Adjusted net income(1) was $10.3 million, down 47% versus the prior year, largely due to lower Surfactant earnings and higher interest expense.  The higher interest expense reflects lower capitalized interest income due to the start-up of the Pasadena, TX site. EB

NORTHBROOK, Ill., April 7, 2026 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its first quarter 2026 earnings results on Tuesday, April 28, 2026 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 8:00 a.m. ET (7:00 a.m. CT). The call will be hosted by Luis E. Rojo, President and Chief Executive Officer, and Ruben D. Velasqu

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%

NORTHBROOK, Ill., Feb. 3, 2026 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its fourth quarter 2025 earnings results on Monday, February 23, 2026 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Luis E. Rojo, President and Chief Executive Officer, and Ruben D. Vel

NORTHBROOK, Ill., Oct. 29, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Third Quarter 2025 Highlights Reported net income was $10.8 million, down 54% versus the prior year. Adjusted net income(1) was $10.9 million, down 54% versus the prior year, largely due to a higher effective tax rate and higher interest expense.EBITDA(2) was $56.1 million and Adjusted EBITDA(2) was $56.2 million, both up 6% respectively, year-over-year.Global sales volume was up 1% year-over-year.Cash from Operations was $69.8 million during the quarter. Free cash flow(3) for the quarter

NORTHBROOK, Ill., Oct. 8, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its third quarter 2025 earnings results on Wednesday, October 29, 2025 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Luis E. Rojo, President and Chief Executive Officer, and Ruben D. Ve

NORTHBROOK, Ill., July 30, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Second Quarter 2025 Highlights Reported net income was $11.3 million, up 19% versus the prior year.  Adjusted net income(1) was $12.0 million, up 27% versus the prior year, driven by earnings growth within Polymers, our Crop Productivity business and a lower effective tax rate. EBITDA(2)  was $50.6 million and Adjusted EBITDA(2) was $51.4 million, up 6% and 8% respectively, year-over-year.Global sales volume was up 1% year-over-year.       Cash from Operations was $11.2 million during the

NORTHBROOK, Ill., July 23, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its second quarter 2025 earnings results on Wednesday, July 30, 2025 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Luis E. Rojo, President and Chief Executive Officer, and Ruben Velasq

NORTHBROOK, Ill., July 15, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its second quarter 2025 earnings results on Wednesday, July 30, 2025 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Luis E. Rojo, President and Chief Executive Officer, and Ruben Velasq

NORTHBROOK, Ill., April 29, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: First Quarter 2025 Highlights Reported net income was $19.7 million, up 42% versus the prior year. Adjusted net income(1) was $19.3 million, up 32% versus the prior year.EBITDA(2) was $58.0 million and Adjusted EBITDA(2) was $57.5 million, up 16% and 12% respectively, year-over-year.Global sales volume was up 4% year-over-year.Cash from Operations was $6.9 million during the quarter. Free cash flow(3) for the quarter was a negative $25.8 million driven by higher working capital to suppor

NORTHBROOK, Ill., April 14, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its first quarter 2025 earnings results on Tuesday, April 29, 2025 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 8:00 a.m. ET (7:00 a.m. CT). The call will be hosted by Luis E. Rojo, President and Chief Executive Officer, and Samuel S. Hin

NORTHBROOK, Ill., Feb. 19, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Fourth Quarter 2024 Highlights Reported net income was $3.4 million versus a $1.2 million net loss in the prior year. Adjusted net income(1) was $2.8 million, down 63% versus prior year, largely due to higher pre-commissioning expenses at our new alkoxylation investment in Pasadena, Texas ($4.4 million increase), a one-time tax proceeding reserve of $2.9 million recorded in our Latin American operations and higher expenses associated with the previously announced CEO transition in the fou

NORTHBROOK, Ill., Jan. 29, 2025 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its fourth quarter and full year 2024 earnings results on Wednesday, February 19, 2025 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Luis E. Rojo, President and Chief Executive Officer

NORTHBROOK, Ill., Oct. 30, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Third Quarter 2024 Highlights Reported net income was $23.6 million, up 88% versus prior year. Adjusted net income(1) was $23.7 million, up 61% versus prior year, largely due to higher margins and a lower effective tax rate. The year-over-year change in effective tax rate positively impacted net income by $6.8 million, or $0.30 per diluted share.EBITDA(2) was $53.0 million and Adjusted EBITDA(2) was $53.1 million, up 18% and 11% respectively, year-over-year.Global sales volume was down 1%

NORTHBROOK, Ill., Oct. 9, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its third quarter 2024 earnings results on Wednesday, October 30, 2024 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer, and Luis E.

NORTHBROOK, Ill., July 31, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Second Quarter 2024 Highlights Reported net income was $9.5 million, down 25% versus prior year. Adjusted net income(1) was $9.4 million, down 22% versus prior year, largely due to a higher effective tax rate in 2024.Pre-tax earnings were negatively impacted by $18.9 million due to higher operating costs at our Millsdale site, primarily related to a flood event ($11.8 million), pre-commissioning expenses at our new Alkoxylation investment in Pasadena, Texas ($3.6 million) and expenses rel

NORTHBROOK, Ill., July 10, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its second quarter 2024 earnings results on Wednesday, July 31, 2024 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer, and Luis E.

NORTHBROOK, Ill., April 30, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: First Quarter 2024 Highlights Reported net income was $13.9 million. Adjusted net income(1) was $14.7 million, down 11% year-over-year, largely due to a higher effective tax rate in 2024.EBITDA(2) was $50.2 million. Adjusted EBITDA(2) was $51.2 million, up 5% year-over-year.Global sales volume was up 1% year-over-year. Global sales volume, excluding declines in our Agricultural and commodity Phthalic Anhydride businesses, was up 4%.Cash from Operations was $41.6 million during the quarte

NORTHBROOK, Ill., April 9, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its first quarter 2024 earnings results on Tuesday, April 30, 2024 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day at 8:00 a.m. ET (7:00 a.m. CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer, and Luis E. Rojo, Vice President and Chief Financial Officer. The call can be accessed by phone and webcast. To access the call by

NORTHBROOK, Ill., Feb. 20, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Fourth Quarter Highlights The Company incurred a reported net loss of $1.2 million, or negative $0.05 per diluted share, versus $10.8 million of reported net income, or $0.47 per diluted share, in the prior year.  Adjusted net income* was $7.5 million, or $0.33 per diluted share, versus $13.5 million, or $0.59 per diluted share, in the prior year.  Total Company sales volume increased 3% versus the prior year.Surfactant operating income was $14.8 million versus $21.8 million in the prior year.  This decrease was primarily due to lower unit margins that were partially offset by a 1% increase in global s

NORTHBROOK, Ill., Jan. 30, 2024 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its fourth quarter and full year 2023 earnings results on Tuesday, February 20, 2024 at approximately 7:00 a.m. ET (6:00 a.m. CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 9:00 a.m. ET (8:00 a.m. CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer, and Luis E. Rojo, Vice President and Chief Financial Officer. The call can be accessed by phone and webcast. To

NORTHBROOK, Ill., Oct. 3, 2023 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its third quarter 2023 earnings results on Wednesday, October 18, 2023 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 10:00 am ET (9:00 am CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer, and Luis E. Rojo, Vice President and Chief Financial Officer. The call can be accessed by phone and webcast. To access the call by ph

NORTHBROOK, Ill., July 26, 2023 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Second Quarter Highlights Reported net income was $12.7 million, or $0.55 per diluted share, versus a record $52.1 million, or $2.26 per diluted share, in the prior year. Adjusted net income* was $12.1 million, or $0.53 per diluted share, versus $53.0 million, or $2.30 per diluted share, in the prior year. The decline in both reported and adjusted net income was predominately due to a 19% reduction in sales volume versus the prior year.Surfactant operating income was $15.1 million versus $48.2 million in the prior year. This decrease was primarily due to a 15% decline in global sales volume. The decline

NORTHBROOK, Ill., June 27, 2023 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its second quarter 2023 earnings results on Wednesday, July 26, 2023 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 9:00 am ET (8:00 am CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer, and Luis E. Rojo, Vice President and Chief Financial Officer. The call can be accessed by phone and webcast. To access the call by phone

NORTHBROOK, Ill., April 25, 2023 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: First Quarter Highlights Reported net income was $16.1 million, or $0.70 per diluted share versus $44.8 million, or $1.93 per diluted share, in the prior year. Adjusted net income* was $16.4 million, or $0.71 per diluted share versus $40.7 million, or $1.76 per diluted share, in the prior year. Total Company sales volume decreased 14% versus the prior year.Surfactant operating income was $27.1 million versus $53.8 million in the prior year. This decrease was primarily due to a 13% decline in global sales volume that was partially offset by improved product and customer mix. The lower sales volume was m

NORTHBROOK, Ill., April 3, 2023 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its first quarter 2023 earnings results on Tuesday, April 25, 2023 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 8:00 am ET (7:00 am CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer, and Luis E. Rojo, Vice President and Chief Financial Officer. New Call-In Process The call can be accessed by phone and webcast.  To acces

NORTHBROOK, Ill., Feb. 16, 2023 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Fourth Quarter Highlights Reported net income was $10.8 million, or $0.47 per diluted share, versus $17.0 million, or $0.73 per diluted share, in the prior year. Adjusted net income* was $13.5 million, or $0.59 per diluted share versus $22.5 million, or $0.97 per diluted share, in the prior year. Total Company sales volume decreased 17% versus the prior year.Surfactant operating income was $21.8 million versus $32.4 million in the prior year. This decrease was primarily due to a 15% decline in global sales volume that was partially offset by improved product and customer mix. The lower sales volume was

NORTHBROOK, Ill., Jan. 25, 2023 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its fourth quarter and full year 2022 earnings results on Thursday, February 16, 2023 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold its conference call to discuss and answer questions about its financial and operational performance on the same day, at 10:00 am ET (9:00 am CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer and Luis E. Rojo, Vice President and Chief Financial Officer. New Call-In Process The call can be accessed by phone a

NORTHBROOK, Ill., Oct. 19, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Third Quarter Highlights Reported net income was a record $39.4 million, or $1.71 per diluted share versus $36.9 million, or $1.59 per diluted share, in the prior year. Adjusted net income* was a record $46.3 million, or $2.01 per diluted share, versus $36.4 million, or $1.57 per diluted share, in the prior year. Total Company sales volume decreased 8% versus the prior year.Surfactant operating income was $39.0 million versus $34.5 million in the prior year. This increase was primarily driven by improved product and customer mix that was partially offset by an 8% decline in global sales volume. The sale

NORTHBROOK, Ill., Sept. 21, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its third quarter 2022 earnings results on Wednesday, October 19, 2022 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 10:00 am ET (9:00 am CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer and Luis E. Rojo, Vice President and Chief Financial Officer. The call can be accessed by phone and webcast.  Telephone access will b

NORTHBROOK, Ill., July 27, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Second Quarter Highlights Reported net income was a record $52.1 million, or $2.26 per diluted share, versus $43.3 million, or $1.85 per diluted share, in the prior year. Adjusted net income* was a record $53.0 million, or $2.30 per diluted share, versus $42.2 million, or $1.81 per diluted share, in the prior year. Total Company sales volume declined 1% versus the prior year.Surfactant operating income was $48.2 million versus $45.9 million in the prior year. This increase was primarily driven by improved product and customer mix that was partially offset by a 3% decline in global sales volume. The lowe

NORTHBROOK, Ill., June 27, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its second quarter 2022 earnings results on Wednesday, July 27, 2022 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 10:00 am ET (9:00 am CT). The call will be hosted by Scott R. Behrens, President and Chief Executive Officer and Luis E. Rojo, Vice President and Chief Financial Officer. The call can be accessed by phone and webcast.  Telephone access will be a

NORTHBROOK, Ill., April 26, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: First Quarter Highlights Reported net income was a record $44.8 million, or $1.93 per diluted share versus $40.6 million, or $1.74 per diluted share, in the prior year.  Adjusted net income* was $40.7 million, or $1.76 per diluted share versus $42.4 million, or $1.82 per diluted share, in the prior year.  Total Company sales volume was flat versus the prior year. Surfactant operating income was a record $53.8 million versus $53.2 million in the prior year. This increase was primarily driven by improved product and customer mix that was mostly offset by ongoing global supply chain challenges and a 1% de

NORTHBROOK, Ill., April 26, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: First Quarter Highlights Reported net income was a record $44.8 million, or $1.93 per diluted share versus $40.6 million, or $1.74 per diluted share, in the prior year.  Adjusted net income* was $40.7 million, or $1.76 per diluted share versus $42.4 million, or $1.82 per diluted share, in the prior year.  Total Company sales volume was flat versus the prior year. Surfactant operating income was a record $53.8 million versus $53.2 million in the prior year. This increase was primarily driven by improved product and customer mix that was mostly offset by ongoing global supply chain challenges and a 1% de

NORTHBROOK, Ill., March 31, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its first quarter 2022 earnings results on Tuesday, April 26, 2022 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 8:00 am ET (7:00 am CT). The call will be hosted by Scott Behrens, currently President and Chief Operating Officer, who will become President and Chief Executive Officer on April 25, 2022, and Luis E. Rojo, Vice President and Chief Financial Offi

NORTHBROOK, Ill., Feb. 17, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Fourth Quarter Highlights Reported net income was $17.0 million, or $0.73 per diluted share, versus $30.4 million, or $1.30 per diluted share, in the prior year. Adjusted net income* was $22.5 million, or $0.97 per diluted share versus $33.1 million, or $1.42 per diluted share, in the prior year. Total Company sales volume decreased 4% versus the prior year. Surfactant operating income was $32.4 million versus $43.3 million in the prior year. This decrease was primarily due to supply chain disruptions, lower sales volume and the non-recurrence of a $3.0 million insurance recovery, related to the 2020 Mi

NORTHBROOK, Ill., Jan. 25, 2022 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its fourth quarter and full year 2021 earnings results on Thursday, February 17, 2022 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold its conference call to discuss and answer questions about its financial and operational performance on the same day, at 10:00 am ET (9:00 am CT). The call will be hosted by F. Quinn Stepan, Jr., Chairman and Chief Executive Officer, Scott R. Behrens, President and Chief Operating Officer and Luis E. Rojo, Vice President and Chief Financial Offi

NORTHBROOK, Ill., Oct. 20, 2021 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Third Quarter Highlights Reported net income was $36.9 million, or $1.59 per diluted share versus $33.2 million, or $1.43 per diluted share, in the prior year. Adjusted net income* was $36.4 million, or $1.57 per diluted share, versus $36.4 million, or $1.56 per diluted share, in the prior year. Total Company sales volume increased 1% versus the prior year.Surfactant operating income was $34.5 million versus $41.2 million in the prior year. This decrease was primarily due to supply chain disruptions, lower sales volume and the non-recurrence of a $2.2 million insurance recovery, related to the 2020 Mill

NORTHBROOK, Ill., Sept. 28, 2021 /PRNewswire/ -- Stepan Company (NYSE:SCL) will issue its third quarter 2021 earnings results on Wednesday, October 20, 2021 at approximately 7:00 am ET (6:00 am CT). Supporting slides will be posted at approximately the same time on the Investors/Presentations page at www.stepan.com. The Company will hold a conference call to discuss and answer questions about its financial and operational performance on the same day, at 10:00 am ET (9:00 am CT). The call will be hosted by F. Quinn Stepan, Jr., Chairman and Chief Executive Officer, Scott R. Behrens, President and Chief Operating Officer and Luis E. Rojo, Vice President and Chief Financial Officer. The call ca

NORTHFIELD, Ill., July 28, 2021 /PRNewswire/ -- Stepan Company (NYSE:SCL) today reported: Second Quarter Highlights Reported net income was a record $43.3 million, or $1.85 per diluted share, versus $35.7 million, or $1.54 per diluted share, in the prior year.  Adjusted net income* was a second quarter record $42.2 million, or $1.81 per diluted share, versus $38.3 million, or $1.65 per diluted share, in the prior year.  Total Company sales volume increased 5% versus the prior year.Surfactant operating income was $45.9 million versus $48.5 million in the prior year. This decrease was largely attributable to higher North American supply chain costs due to inflationary pressures and higher plan