Sensient Technologies Q1 Profit Beats Estimates

(RTTNews) - Sensient Technologies Corporation (SXT) reported first quarter adjusted earnings per share of $0.77 compared to $0.72, last year, an improvement of 6.9%. Analysts polled by Thomson Reuters expected the company to report profit per share of $0.74, for the quarter. Analysts' estimates typically exclude special items.

First quarter reported operating income was $46.9 million compared to $34.6 million, last year. Reported earnings per share was $0.75 compared to $0.49.

First quarter consolidated revenue was $359.7 million compared to $350.7 million, a year ago. Adjusted revenue was $334.13 million, up 6.4%. Analysts expected revenue of $314.78 million, for the quarter.

Sensient reconfirmed its 2021 guidance for GAAP earnings per share to grow at a mid to high single digit growth rate. The company also reconfirmed its 2021 adjusted local currency revenue to grow at a low to mid-single digit rate and adjusted local currency EBITDA to grow at a mid-single digit rate. The company continues to project, on a local currency basis, 2021 adjusted earnings per share to grow at a mid-single digit growth rate.