Sensient Technologies Q2 Profit Surges 49%; Boosts FY22 Revenue Growth Outlook
(RTTNews) - Sensient Technologies Corp. (SXT) reported Friday that net income for the second quarter increased to $38.65 million or $0.92 per share from $25.94 million or $0.61 per share in the prior-year quarter.
Consolidated revenue for the quarter increased 10.7 percent to $371.71 million from $335.83 million in the prior-year quarter.
Foreign currency translation decreased revenue by approximately 3% and earnings per share by approximately 5% in the present quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.89 per share on revenues of $358.70 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2022, the company continues to project earnings per share to grow at a high-teen growth rate and adjusted earnings per share to grow at a high single- to double-digit rate in local currency on revenue growth in the high single digit rate in local currency.
Annual revenues are now expected to grow at a high single digit rate in local currency, compared to the prior forecast for a mid-to-high single digit growth rate in local currency.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Sensient Technologies Boosts FY24 Adj. EPS, Revenue Growth Outlook
Sensient Technologies Q2 Results Miss Estimates; Slashes FY23 Adj. EPS Outlook
Sensient Technologies Q4 Results Miss Estimates; Provides FY23 Outlook
U.S. Consumer Prices Increase In Line With Estimates In August
IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery
Canadian Dollar Falls As Oil Prices Edge Lower
Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops
