Plus   Neg

Sensient Technologies Lowers FY18 Earnings Guidance

Sensient Technologies Corp. (SXT), a maker of colors, flavors and fragrances, Friday lowered its earnings outlook for the full year 2018 primarily to reflect the impact of foreign currency, but reported better results for the second quarter.

The company said it now expects earnings per share for 2018 in the range of $3.60 - $3.70 versus prior guidance of $3.70 - $3.80. Analysts currently expects the company to earn $3.72 per share for the year.

For the second quarter, net earnings grew over 27 percent to $39 million, and earnings per share of 92 cents came in line with the consensus. Revenues for the quarter rose 7.3 percent to $363 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA announced on its website that pharma major Pfizer, Inc. issued recall of two lots of tablets meant to treat acute migraine in adults for concerns over bacteria infection. The pharma company is recalling two lots of Relpax (eletriptan hydrobromide) 40 mg tablets for potential presence of Genus Pseudomonas and Burkholderia bacteria. Cosmetics company Revlon Inc. (REV) is reportedly considering a potential sale of parts or all of its business. According to Bloomberg, Revlon has retained financial advisers from Goldman Sachs Group Inc. to explore strategic alternatives. No deal has been reached yet, but Revlon is exploring all... China's Lenovo Group Ltd. warned it may have to raise prices of its products if the U.S. moves ahead with the decision to impose additional tariffs on Chinese goods, according to a report by Reuters. The warning by Lenovo, the world's largest PC maker, comes amid the escalating trade war between the U.S. and China that has raised concerns about the global economic outlook.
Follow RTT