Sensient Technologies (SXT) Tops Q3 EPS by 5c

Sensient Technologies (NYSE: SXT) reported Q3 EPS of $0.85, $0.05 better than the analyst estimate of $0.80. Revenue for the quarter came in at $344.3 million versus the consensus estimate of $327.6 million.

2021 OUTLOOK:

Sensient is reconfirming its previously issued 2021 guidance for GAAP diluted earnings per share to grow at a mid-to-high single-digit growth rate compared to the Company’s 2020 reported GAAP diluted earnings per share of $2.59. Our full year 2021 guidance includes approximately 25 cents per share of estimated divestiture & other related costs, the results of the divested operations, and the operational improvement plan costs.

The Company now expects its 2021 adjusted local currency revenue(2) to grow at a high single-digit rate. The Company’s previous 2021 guidance for adjusted local currency revenue(2) was a mid-single-digit growth rate. The Company also now expects its 2021 adjusted local currency EBITDA(2) and adjusted diluted earnings per share(2), on a local currency basis, to grow at a mid-to-high single-digit growth rate. The Company’s previous 2021 adjusted local currency EBITDA(2) and adjusted diluted earnings per share(2) called for a mid-single-digit growth rate.

The Company expects earnings per share reported on a U.S. dollar basis to benefit by approximately seven cents based on current exchange rates.

The Company’s guidance is based upon current trends, current tax law, 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.

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

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