Sensient Technologies Lowers FY19 EPS Guidance - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, Sensient Technologies Corp. (SXT), a maker of colors, flavors and fragrances, on Friday lowered its guidance for earnings for the full year 2019.

For fiscal 2019, the company now anticipates that local currency earnings per share will be down 12 to 13 percent from the 2018 earnings per share of $3.70. Previously, the Company indicated that local currency earnings per share would be down 8 to 11 percent. In addition, the Company continues to expect a negative foreign currency impact of 1 to 2 percent, or about 5 cents per share.

Further, the Company now anticipates that local currency earnings per share will be down 8 to 9 percent from 2018 adjusted diluted earnings per share of $3.55. Previously, the Company indicated that local currency earnings per share would be down 4 to 7 percent. In addition, the Company continues to expect a negative foreign currency impact of 1 to 2 percent, or about 5 cents per share.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $3.29 per share for the year. Analysts' estimates typically exclude special items.