Sensient Technologies (SXT) Misses Q1 EPS by 2c, Beats on Revenues; Lowers FY18 EPS Mid-Point Outlook Below Consensus

Sensient Technologies (NYSE: SXT) reported Q1 EPS of $0.89, $0.02 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $356.5 million versus the consensus estimate of $350.01 million.

2018 OUTLOOK

“The Color Group had another strong quarter, led by cosmetics and food and beverage colors,” said Paul Manning, Chairman, President and CEO of Sensient Technologies Corporation. “We are off to a strong start in the second quarter in the Color Group. Results in our Asia Pacific Group are also off to a strong start in the second quarter. Within Flavors & Fragrances, many of the businesses continue to perform well, and the completion of the restructuring program has created a strong foundation for growth. While we now expect the onion headwind to continue through the end of the third quarter, this is a short-term issue that will resolve itself this year. I remain very optimistic about the Company’s future.”

As a result of higher onion costs and continued pricing pressure in the onion market the Company is updating its guidance. Sensient now expects diluted earnings per share for 2018 to be between $3.70 and $3.80. The Company’s previous guidance had been between $3.70 and $3.90.

GUIDANCE:

Sensient Technologies sees FY2018 EPS of $3.70-$3.80, versus the consensus of $3.78.

For earnings history and earnings-related data on Sensient Technologies (SXT) click here.

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