Sensient Technologies Corporation (SXT) reported that its first quarter net income declined to $30.9 million or $0.73 per share from $33.6 million or $0.80 per share, last year. Adjusted earnings per share was $0.79 compared to $0.80. Local currency adjusted EPS decreased 1.3% primarily as a result of higher interest expense and a higher tax rate.
Revenue was $384.67 million, up 4.2% from a year ago. On a local currency basis, revenue increased 3.8%.
Sensient continues to expect 2024 earnings per share to be between $2.80 and $2.90, which includes approximately 15 cents of Portfolio Optimization Plan costs in 2024. . The company continues to expect 2024 adjusted earnings per share to grow at a low to mid-single-digit rate on a local currency basis.
The company now expects 2024 revenue and adjusted EBITDA to each grow at a mid-single-digit rate on a local currency basis. The previous guidance called for 2024 revenue and 2024 adjusted EBITDA to grow at a low to mid-single-digit rate on a local currency basis.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.