Sensient Technologies Corp

SXT

Equity

ISIN US81725T1007 / Valor 1143374

New York Stock Exchange, Inc (2024-11-21)

USD 77.19+1.15%

Sensient Technologies Corp
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About company

Sensient Technologies Corp is a prominent global company known for its production and distribution of colors, flavors, and specialty ingredients. Utilizing cutting-edge technologies and a strong global supply chain, Sensient focuses on creating tailored solutions for the food and beverage industry, along with offerings for pharmaceuticals, nutraceuticals, cosmetics, and personal care products.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

Sensient Technologies Corp reported a 7.8% increase in revenue for the second quarter of 2024, reaching $403.5 million compared to $374.3 million in the same quarter of the previous year. On a local currency basis, revenue saw an 8.5% increase.

Operating Income

The company's reported operating income for Q2 2024 decreased by 3.7% to $49.7 million, down from $51.6 million in Q2 2023. This decline includes $1.8 million in costs related to Sensient's Portfolio Optimization Plan.

Earnings Per Share

Sensient Technologies Corp's diluted earnings per share (EPS) for the second quarter of 2024 decreased by 9.9%, falling to 73 cents from 81 cents in the same period of the previous year. The local currency adjusted EPS decreased by 2.5%, primarily due to higher interest expenses and a higher tax rate.

Segment Performance

The Flavors & Extracts Group reported a revenue increase of $20.9 million, reaching $209.2 million in Q2 2024. The Color Group saw a revenue increase of $7.2 million, totaling $167.7 million, while the Asia Pacific Group reported a revenue increase of $2.6 million, reaching $38.6 million for the quarter.

2024 Outlook

Sensient Technologies Corp has raised its full-year guidance for 2024. The company now expects mid-to-high single-digit growth in local currency revenue and adjusted EBITDA. The updated guidance for diluted EPS (GAAP) is between $2.77 and $2.87, which includes approximately 18 cents of Portfolio Optimization Plan costs.

Summarized from source with an LLMView Source

Key figures

34.5%1Y

-24.8%3Y

23.5%5Y

Performance

26.5%1Y

26.7%3Y

30.1%5Y

Volatility