logo
  

Sensient Technologies Q3 Profit Tops Estimates

Sensient Technologies Corporation (SXT) reported third quarter adjusted operating income of $47.8 million, an increase of 15.0% from prior year. Reported Consolidated revenue growth was 6.4%, for the quarter, while adjusted consolidated local currency revenue growth was 13.0%.

Adjusted earnings per share increased to $0.85 from $0.77, a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.80, for the quarter. Analysts' estimates typically exclude special items. Net earnings was $33.9 million or $0.80 per share compared to $32.9 million or $0.78 per share, last year.

Consolidated revenue was $344.3 million compared to $323.6 million, a year ago. Foreign currency translation increased revenue by approximately 1%. Adjusted revenue was $342.7 million, up 14.2%. Analysts expected revenue of $327.6 million, for the quarter.

Sensient reconfirmed its previously issued 2021 guidance for GAAP earnings per share to grow at a mid-to-high single-digit growth rate. The company now projects 2021 adjusted local currency EBITDA and adjusted earnings per share, on a local currency basis, to grow at a mid-to-high single-digit growth rate. The previous adjusted local currency EBITDA and adjusted earnings per share guidance was mid-single-digit growth rate.

The company now expects 2021 adjusted local currency revenue to grow at a high single-digit rate. The previous guidance for adjusted local currency revenue was a mid-single-digit growth rate.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Frozen Food Development is recalling specific lots of Lidl branded 12-ounce packages of Frozen Chopped Spinach citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The product comes in 12-ounce poly bags, and items included in the recall are marked with lot # R17742 or R17963 on the back of the poly bag with a best by date of 09/10/23. Starbucks has dropped its vaccine or weekly test requirement against Covid-19 for U.S. employees in the wake of last week's U.S. Supreme Court ruling. The court, in a 6-3 vote, has blocked President Joe Biden's vaccine-or-test mandate for private companies with 100 or more employees. However, it allowed the vaccine mandate to stand for certain health care workers. Mylan Pharmaceuticals Inc., affiliated to healthcare company Viatris Inc., is recalling one batch of its non-interchangeable Semglee (insulin glargine injection), 100 units/ml (U-100), 3mL prefilled pens due to the potential for a missing label, the U.S. Food and Drug Administration said.
Follow RTT