CME glitch; U.S. dollar on pace for weekly fall; Tokyo CPI - what’s moving markets
MILWAUKEE - Sensient Technologies Corporation (NYSE:SXT) reported third quarter earnings that exceeded analyst expectations on Friday, and raised its full-year outlook.
The company’s shares were up 3.69% in pre-market trading after the results.
The flavor and color manufacturer posted adjusted earnings of $0.96 per share for the third quarter, surpassing the analyst consensus of $0.90. Revenue reached $412.1 million, up 5% YoY and ahead of the $407.89 million analysts had anticipated.
The company’s Color Group was the standout performer, with revenue increasing 9.9% to $178.2 million and operating income surging 26.6% compared to the same period last year. Meanwhile, the Flavors & Extracts Group saw a slight revenue decline of 0.2% to $203 million, though its operating income improved 8.4%.
"Sensient’s dedication to customer service while continuing to innovate and drive new sales wins has resulted in strong results," said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer. "I remain very confident about our performance and am excited about the opportunities in front of us, particularly in natural colors."
Following the strong quarterly performance, Sensient raised its full-year guidance, now expecting double-digit growth in local currency adjusted EBITDA, up from its previous forecast of high single-digit growth. The company maintained its full-year EPS guidance of $3.13 to $3.23, which includes approximately 28 cents of Portfolio Optimization Plan costs.
The company’s adjusted operating income increased 18% to $61 million in the quarter, while adjusted EBITDA rose 16.3% to $80.5 million compared to the third quarter of 2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.