Sensient Q3 Profit Beats Estimates; Reaffirms 2022 Guidance

(RTTNews) - Sensient Technologies Corp. (SXT) reported third quarter adjusted earnings per share of $0.85, flat with prior year. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.82, for the quarter. Analysts' estimates typically exclude special items.

Net earnings increased to $36.05 million from $33.91 million, last year. Reported earnings per share was $0.85 compared to $0.80.

Consolidated revenue was $361.1 million compared to $344.3 million, prior year. Analysts on average had estimated $364.28 million in revenue.

Sensient reconfirmed its expectation for 2022 GAAP earnings per share to grow at a high-teen growth rate. The company continues to expect 2022 adjusted EBITDA and earnings per share to grow at a high single- to double-digit rate in local currency. The company continues to expect 2022 revenue to grow at a high single-digit rate in local currency.

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