Sensient Technologies Q4 Results Miss Estimates; Provides FY23 Outlook
(RTTNews) - Sensient Technologies Corp. (SXT) reported Friday that net income for the fourth quarter increased to $29.12 million or $0.69 per share from $27.23 million or $0.65 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $0.64 per share, compared to $0.73 per share in the year-ago quarter.
Consolidated revenue for the quarter increased 2.4 percent to $348.74 million from $340.45 million in the same quarter last year.
Foreign currency translation decreased revenue by approximately 3% and earnings per share by approximately 6% in the current quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share on revenues of $352.07 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2023, the company now projects earnings per share to be flat to low-single digit growth compared to 2022 earnings of $3.34 per share and adjusted earnings per share to grow at a flat to low-single digit growth rate in local currency on revenue growth in the mid-single digit rate in local currency.
The Street is looking for earnings of $3.44 per share on revenues of $1.49 billion for the year.
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 Q2 Profit Surges 49%; Boosts FY22 Revenue Growth Outlook
Swiss Market Ends Marginally Up
European Stocks Close Weak
Canadian Stocks Turning In Mixed Performance; TSX Down Marginally
U.S. Pending Home Sales Fall More Than Expected In July
