Sensient Technologies (SXT) Reports In-Line Q3 EPS

Sensient Technologies (NYSE: SXT) reported Q3 EPS of $0.95, in-line with the analyst estimate of $0.95. Revenue for the quarter came in at $342.7 million versus the consensus estimate of $365 million.

2018 OUTLOOK

“I am pleased that we have now lapped the aftermath of our restructuring as well as our onion issues, which have impacted the Flavors & Fragrances segment this year,” said Paul Manning, Chairman, President and CEO of Sensient Technologies Corporation. “Our key focus going forward will be to capitalize on our positive commercial activity.”

The Company has a number of headwinds relative to last year’s fourth quarter earnings per share, including a higher tax rate, higher interest expense, and higher corporate expense. The higher tax rate is due to non-recurring tax benefits that occurred in the fourth quarter of 2017, and the higher corporate expense relates to a reduction in performance based compensation in last year’s fourth quarter. The Company also expects the impact of the recent acquisition to reduce fourth quarter earnings per share by approximately one cent. The total impact of these headwinds is approximately ten cents, or 12% of last year’s adjusted earnings per share. Considering the impact of these items, the Company expects fourth quarter earnings per share to be down mid-single digits, in percentage terms, from last year’s fourth quarter adjusted earnings per share result. As a result, the Company now expects that full year adjusted earnings per share will be slightly below the range previously provided.

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

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