Sensient Technologies Lowers FY18 Earnings Guidance

(RTTNews) - Sensient Technologies Corp. (SXT), a maker of colors, flavors and fragrances, Friday lowered its earnings outlook for the full year 2018 primarily to reflect the impact of foreign currency, but reported better results for the second quarter.

The company said it now expects earnings per share for 2018 in the range of $3.60 - $3.70 versus prior guidance of $3.70 - $3.80. Analysts currently expects the company to earn $3.72 per share for the year.

For the second quarter, net earnings grew over 27 percent to $39 million, and earnings per share of 92 cents came in line with the consensus. Revenues for the quarter rose 7.3 percent to $363 million.