Sensient Technologies (SXT) Tops Q3 EPS by 9c, Maintains FY Guidance

Sensient Technologies (NYSE: SXT) reported Q3 EPS of $0.77, $0.09 better than the analyst estimate of $0.68. Revenue for the quarter came in at $323.6 million versus the consensus estimate of $303.2 million.

GUIDANCE:

Sensient Technologies sees FY2020 EPS of $2.60-$2.80, versus the consensus of $2.71.

• Based upon current trends, the Company reconfirms its previously issued diluted earnings per share guidance for 2020 of $2.10 to $2.35. The full year guidance now includes approximately 5 cents of foreign currency headwinds based on current exchange rates. The Company also reconfirms its previously issued 2020 adjusted diluted earnings per share(2) guidance of $2.60 to $2.80, which excludes divestiture & other related costs, operational improvement plan costs, the results of the operations divested and to be divested, and foreign currency impacts.
• The Company is also confirming its previously issued guidance, which calls for low to mid-single digit revenue growth in 2020 on a local currency basis, excluding the revenues of the product lines divested and to be divested. The Company also continues to expect 2020 Adjusted EBITDA(2) to grow at a low to mid-single digit rate and Adjusted Operating Income(2) to be flat to down at a low-single digit rate, in each case on a local currency basis. Adjusted Operating Income will be impacted by higher non-cash performance-based compensation.
• The Company’s guidance is based upon current trends and the effects of COVID-19 to date. The full impacts of the ongoing COVID-19 pandemic remain uncertain and management will continue to monitor its impacts on our business.
• (2) See “Reconciliation of Non-GAAP Amounts” at the end of this release for more information.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Newton Golf Company (NWTG) Reports Q2 Loss of $0.49
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c