Sensient Technologies Corporation Reports Results for the Quarter Ended September 30, 2022

Rhea-AI Summary

Sensient Technologies Corporation (NYSE: SXT) reported third-quarter 2022 revenue of $361.1 million, up from $344.3 million year-over-year. Operating income increased to $47.5 million from $47.0 million. Diluted earnings per share rose to 85 cents compared to 80 cents in the prior year. Adjusted local currency revenue growth was strong across segments, with Colors up 14.6%. However, foreign currency translation negatively impacted revenue and earnings. Sensient maintains a 2022 outlook for high-single-digit revenue growth and high-teen growth in earnings per share.

Positive

• 3.0% revenue growth in Flavors & Extracts segment.
• 8.8% revenue growth in the Color segment.
• Strong adjusted local currency revenue increases of 6.7% for Flavors & Extracts and 14.6% for Color.
• Diluted earnings per share increased to 85 cents.
• Continued strong outlook for high single-digit revenue growth and high-teen EPS growth for 2022.

Negative

• Foreign currency translation reduced revenue by approximately 4% and EPS by 6%.
• Corporate operating costs increased by 16%, primarily due to higher performance-based compensation.
• Risks associated with economic conditions, COVID-19 impacts, and geopolitical tensions.

Sensient Reaffirms its 2022 Guidance

MILWAUKEE--(BUSINESS WIRE)-- Sensient Technologies Corporation (NYSE: SXT) reported consolidated revenue of $361.1 million in this year’s third quarter compared to $344.3 million in last year’s third quarter. Reported operating income in the third quarter of 2022 was $47.5 million compared to $47.0 million in the third quarter of 2021. Reported diluted earnings per share was 85 cents in the third quarter of 2022 compared to 80 cents in the third quarter of 2021. Foreign currency translation decreased revenue by approximately 4% and earnings per share by approximately 6% in the present quarter.

The 2021 third quarter reported results included divestiture & other related costs and operational improvement plan costs, which in total decreased 2021 third quarter diluted earnings per share by $0.04. The 2021 third quarter reported results also included the operations of the divested product lines, which were not material to diluted earnings per share in the third quarter of 2021. We did not make any adjustments to our 2022 third quarter reported results for divestiture & other related costs, operational improvement plan costs, or results of the divested product lines. The adjustments to our reported results are described in more detail under “Reconciliation of Non-GAAP Amounts” at the end of this release.

BUSINESS REVIEW
		Reported
Revenue		Quarter		Year-to-Date
Flavors & Extracts		3.0%		-0.5%
Color		8.8%		11.8%
Asia Pacific		5.3%		9.5%
Total Revenue		4.9%		4.7%
		Adjusted
		Local Currency(1)
Revenue		Quarter		Year-to-Date
Flavors & Extracts		6.7%		6.9%
Color		14.6%		16.0%
Asia Pacific		14.5%		17.2%
Total Revenue		9.9%		11.0%
(1) Adjusted local currency percentage changes are described in more detail in the "Reconciliation of Non-GAAP Amounts" at the end of this release.

The Flavors & Extracts Group reported third quarter revenue of $187.0 million compared to $181.7 million in last year’s third quarter, an increase of 3.0%. Adjusted local currency revenue increased 6.7% in the quarter. The Group benefited from pricing across all of its product lines. Segment operating income was $26.3 million in the current quarter compared to $25.2 million reported in the comparable period last year, an increase of 4.7%. Adjusted local currency operating income increased 5.6% in the quarter. The higher operating income was primarily due to the favorable pricing, partially offset by higher input costs. Foreign currency translation decreased segment revenue by approximately 3% and segment operating income by approximately 1% in the quarter. Segment operating income as a percent of revenue in the third quarter of 2022 was 14.1%.

The Color Group reported revenue of $151.5 million in the quarter compared to $139.2 million in last year’s third quarter, an increase of 8.8%. Adjusted local currency revenue increased 14.6% in the quarter. The Group had strong volume growth and higher pricing in both Food & Pharmaceutical Colors and Personal Care. Segment operating income was $28.2 million in the quarter compared to $27.3 million in last year’s comparable period, an increase of 3.5%. Adjusted local currency operating income increased 10.9% compared to the prior year’s third quarter. The higher operating income is primarily a result of the higher volumes and favorable pricing, partially offset by higher input costs. Foreign currency translation decreased segment revenue by approximately 6% and segment operating income by approximately 7% in the quarter. Segment operating income as a percent of revenue in the third quarter of 2022 was 18.6%.

The Asia Pacific Group reported revenue of $35.2 million in the quarter compared to $33.4 million in last year’s third quarter, an increase of 5.3%. Adjusted local currency revenue increased 14.5% in the quarter. The higher revenue was a result of strong volume growth and higher pricing. Segment operating income was $7.0 million in the quarter compared to $6.6 million in last year’s third quarter, an increase of 5.3%. Adjusted local currency operating income increased 16.3% in the quarter. The higher operating income was primarily a result of the favorable volume growth and higher pricing. Foreign currency translation decreased segment revenue and operating income by approximately 9% and 11%, respectively, in the quarter. Segment operating income as a percent of revenue in the third quarter of 2022 was 19.7%.

Corporate & Other reported operating costs of $14.0 million in the current quarter compared to $12.1 million in last year’s third quarter, an increase of 16.0%. Adjusted local currency operating expenses for Corporate & Other increased 23.5% in the quarter primarily due to higher performance-based compensation.

2022 OUTLOOK

Sensient is reconfirming its expectation for 2022 full year GAAP diluted earnings per share to grow at a high-teen growth rate compared to the Company’s 2021 reported GAAP diluted earnings per share of $2.81. Our full year 2022 guidance does not include any material divestiture & other related costs, operational improvement plan costs, or results of divested businesses.

The Company continues to expect 2022 revenue to grow at a high single-digit rate in local currency compared to the Company’s 2021 adjusted revenue⁽²⁾. The Company continues to expect its 2022 adjusted EBITDA⁽²⁾ and diluted earnings per share to grow at a high single- to double-digit rate in local currency compared to the Company’s 2021 adjusted EBITDA⁽²⁾ and the Company’s 2021 adjusted diluted earnings per share⁽²⁾ of $3.13.

The Company expects full year 2022 earnings per share reported on a U.S. dollar basis to be impacted by foreign currency headwinds of approximately twenty cents based on current exchange rates.

The Company’s guidance is based on current conditions and trends in the economy and the markets in which the Company operates and is subject to various risks and uncertainties as described below. The Company will continue to monitor the impacts of the COVID-19 pandemic and the conflict between Russia and Ukraine on our business.

⁽²⁾ See “Reconciliation of Non-GAAP Amounts” at the end of this release for more information.

USE OF NON-GAAP FINANCIAL MEASURES

The Company’s non-GAAP financial measures eliminate the impact of certain items, which, depending on the measure, include: currency movements, depreciation and amortization, non-cash share-based compensation, divestiture & other related costs, operational improvement plan costs and income, and the results of the divested operations. These measures are provided to enhance the overall understanding of the Company’s performance when viewed together with the GAAP results. Refer to “Reconciliation of Non-GAAP Amounts” at the end of this release.

CONFERENCE CALL

The Company will host a conference call to discuss its 2022 third quarter financial results at 8:30 a.m. CDT on Friday, October 21, 2022. To participate in the conference call, contact Chorus Call Inc. at (844) 492-3726 or (412) 317-1078, and ask to join the Sensient Technologies Corporation conference call. Alternatively, the call can be accessed by using the webcast link that is available on the Investor Information section of the Company’s web site at www.sensient.com.

A replay of the call will be available one hour after the end of the conference call through October 28, 2022, by calling (877) 344-7529 and referring to conference identification number 2992460. An audio replay and written transcript of the call will also be posted on the Investor Information section of the Company’s web site at www.sensient.com on or after October 25, 2022.

This release contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws including under “2022 Outlook” above. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the impact and uncertainty created by the COVID-19 pandemic, including, but not limited to, its effects on our employees, facilities, customers, and suppliers, the availability and cost of raw materials, energy, and other supplies, the availability and cost of labor, logistics, and transportation, governmental regulations and restrictions, and general economic conditions, including inflation; the uncertain impacts of the ongoing conflict between Russia and Ukraine on our supply chain, input costs, including energy and transportation, and on general economic conditions; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences and changing technologies; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and operational improvement plan; changes in costs of raw materials, including energy; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, as updated and supplemented by the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition, and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.

ABOUT SENSIENT TECHNOLOGIES

Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, cosmetic, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.

www.sensient.com

Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
Consolidated Statements of Earnings		Three Months Ended September 30,											Nine Months Ended September 30,
		2022				2021				% Change			2022				2021				% Change
Revenue		$	361,076			$	344,287			4.9	%		$	1,088,303			$	1,039,816			4.7	%
Cost of products sold			239,318				229,216			4.4	%			710,696				697,538			1.9	%
Selling and administrative expenses			74,265				68,113			9.0	%			222,081				212,670			4.4	%
Operating income			47,493				46,958			1.1	%			155,526				129,608			20.0	%
Interest expense			3,672				3,037							9,748				9,792
Earnings before income taxes			43,821				43,921							145,778				119,816
Income taxes			7,773				10,009							34,012				28,300
Net earnings		$	36,048			$	33,912			6.3	%		$	111,766			$	91,516			22.1	%
Earnings per share of common stock:
Basic		$	0.86			$	0.81						$	2.67			$	2.17
Diluted		$	0.85			$	0.80						$	2.65			$	2.16
Average common shares outstanding:
Basic			41,896				42,024							41,885				42,140
Diluted			42,242				42,206							42,199				42,287
Results by Segment		Three Months Ended September 30,											Nine Months Ended September 30,
Revenue		2022				2021				% Change			2022				2021				% Change
Flavors & Extracts		$	187,046			$	181,667			3.0	%		$	559,110			$	561,979			(0.5	%)
Color			151,469				139,239			8.8	%			456,175				408,166			11.8	%
Asia Pacific			35,221				33,442			5.3	%			109,014				99,599			9.5	%
Intersegment elimination			(12,660	)			(10,061	)						(35,996	)			(29,928	)
Consolidated		$	361,076			$	344,287			4.9	%		$	1,088,303			$	1,039,816			4.7	%
Operating Income
Flavors & Extracts		$	26,337			$	25,164			4.7	%		$	83,929			$	76,718			9.4	%
Color			28,200				27,253			3.5	%			90,035				79,462			13.3	%
Asia Pacific			6,952				6,601			5.3	%			22,877				19,146			19.5	%
Corporate & Other			(13,996	)			(12,060	)						(41,315	)			(45,718	)
Consolidated		$	47,493			$	46,958			1.1	%		$	155,526			$	129,608			20.0	%

Sensient Technologies Corporation
(In thousands)
(Unaudited)
Consolidated Condensed Balance Sheets		September 30,			December 31,
		2022			2021
Cash and cash equivalents		$	46,579		$	25,740
Trade accounts receivable			287,197			261,121
Inventories			501,382			411,635
Prepaid expenses and other current assets			45,582			42,657
Total Current Assets			880,740			741,153
Goodwill & intangible assets (net)			404,840			435,009
Property, plant, and equipment (net)			440,439			446,478
Other assets			113,189			122,853
Total Assets		$	1,839,208		$	1,745,493
Trade accounts payable		$	132,904		$	125,519
Short-term borrowings			21,947			8,539
Other current liabilities			100,574			98,247
Total Current Liabilities			255,425			232,305
Long-term debt			547,190			503,006
Accrued employee and retiree benefits			27,854			28,579
Other liabilities			54,225			43,178
Shareholders' Equity			954,514			938,425
Total Liabilities and Shareholders' Equity		$	1,839,208		$	1,745,493

Sensient Technologies Corporation
(In thousands, except per share amounts)
(Unaudited)
Consolidated Statements of Cash Flows
Nine Months Ended September 30,
		2022				2021
Cash flows from operating activities:
Net earnings		$	111,766			$	91,516
Adjustments to arrive at net cash provided by operating activities:
Depreciation and amortization			39,262				38,828
Share-based compensation expense			12,476				6,431
Net loss on assets			283				203
Loss on divestitures and other charges			-				13,774
Deferred income taxes			20,465				3,793
Changes in operating assets and liabilities:
Trade accounts receivable			(39,520	)			(35,290	)
Inventories			(112,021	)			(15,898	)
Prepaid expenses and other assets			(39,598	)			(15,016	)
Trade accounts payable and other accrued expenses			24,110				24,007
Accrued salaries, wages, and withholdings			1,819				1,763
Income taxes			(4,342	)			(1,155	)
Other liabilities			198				3,192
Net cash provided by operating activities			14,898				116,148
Cash flows from investing activities:
Acquisition of property, plant, and equipment			(51,703	)			(37,608	)
Proceeds from sale of assets			94				201
Proceeds from divestiture of businesses			-				36,790
Acquisition of new businesses			(1,048	)			(13,875	)
Other investing activities			947				1,348
Net cash used in investing activities			(51,710	)			(13,144	)
Cash flows from financing activities:
Proceeds from additional borrowings			187,715				55,589
Debt payments			(87,657	)			(67,534	)
Purchase of treasury stock			-				(31,467	)
Dividends paid			(51,681	)			(49,468	)
Other financing activities			(2,056	)			(582	)
Net cash provided by (used in) financing activities			46,321				(93,462	)
Effect of exchange rate changes on cash and cash equivalents			11,330				(1,373	)
Net increase in cash and cash equivalents			20,839				8,169
Cash and cash equivalents at beginning of period			25,740				24,770
Cash and cash equivalents at end of period		$	46,579			$	32,939
Supplemental Information
Nine Months Ended September 30,		2022				2021
Dividends paid per share		$	1.23			$	1.17

Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
Reconciliation of Non-GAAP Amounts
The Company's results for the three and nine months ended September 30, 2022 and 2021 include adjusted revenue, adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which exclude divestiture & other related costs, operational improvement plan costs and income, and the results of the divested operations.
		Three Months Ended September 30,										Nine Months Ended September 30,
		2022			2021				% Change			2022			2021				% Change
Revenue (GAAP)		$	361,076		$	344,287			4.9	%		$	1,088,303		$	1,039,816			4.7	%
Revenue of the divested product lines			-			(1,622	)						-			(29,399	)
Adjusted revenue		$	361,076		$	342,665			5.4	%		$	1,088,303		$	1,010,417			7.7	%
Operating income (GAAP)		$	47,493		$	46,958			1.1	%		$	155,526		$	129,608			20.0	%
Divestiture & other related costs – Cost of products sold			-			-							-			28
Divestiture & other related costs – Selling and administrative expenses			-			241							-			13,473
Operating loss (income) of the divested product lines			-			70							-			(2,398	)
Operational improvement plan - Selling and administrative expenses (income)			-			483							-			(2,010	)
Adjusted operating income		$	47,493		$	47,752			(0.5	%)		$	155,526		$	138,701			12.1	%
Net earnings (GAAP)		$	36,048		$	33,912			6.3	%		$	111,766		$	91,516			22.1	%
Divestiture & other related costs, before tax			-			241							-			13,501
Tax impact of divestiture & other related costs(1)			-			1,179							-			283
Net loss (earnings) of the divested product lines, before tax			-			70							-			(2,398	)
Tax impact of the divested product lines(1)			-			(18	)						-			590
Operational improvement plan costs (income), before tax			-			483							-			(2,010	)
Tax impact of operational improvement plan(1)			-			(115	)						-			44
Adjusted net earnings		$	36,048		$	35,752			0.8	%		$	111,766		$	101,526			10.1	%
Diluted earnings per share (GAAP)		$	0.85		$	0.80			6.3	%		$	2.65		$	2.16			22.7	%
Divestiture & other related costs, net of tax			-			0.03							-			0.33
Results of operations of the divested product lines, net of tax			-			-						-			(0.04	)
Operational improvement plan costs (income), net of tax			-			0.01							-			(0.05	)
Adjusted diluted earnings per share		$	0.85		$	0.85			0.0	%		$	2.65		$	2.40			10.4	%
Note: Earnings per share calculations may not foot due to rounding differences.
(1) Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates.

Sensient Technologies Corporation
(In thousands)
(Unaudited)
Reconciliation of Non-GAAP Amounts - Continued
Results by Segment		Three Months Ended September 30,
									Adjusted												Adjusted
Revenue		2022				Adjustments(2)			2022				2021				Adjustments(2)				2021
Flavors & Extracts		$	187,046			$	-		$	187,046			$	181,667			$	(1,312	)		$	180,355
Color			151,469				-			151,469				139,239				(310	)			138,929
Asia Pacific			35,221				-			35,221				33,442				-				33,442
Intersegment elimination			(12,660	)			-			(12,660	)			(10,061	)			-				(10,061	)
Consolidated		$	361,076			$	-		$	361,076			$	344,287			$	(1,622	)		$	342,665
Operating Income
Flavors & Extracts		$	26,337			$	-		$	26,337			$	25,164			$	66			$	25,230
Color			28,200				-			28,200				27,253				4				27,257
Asia Pacific			6,952				-			6,952				6,601				-				6,601
Corporate & Other			(13,996	)			-			(13,996	)			(12,060	)			724				(11,336	)
Consolidated		$	47,493			$	-		$	47,493			$	46,958			$	794			$	47,752
Results by Segment		Nine Months Ended September 30,
									Adjusted												Adjusted
Revenue		2022				Adjustments(2)			2022				2021				Adjustments(2)				2021
Flavors & Extracts		$	559,110			$	-		$	559,110			$	561,979			$	(27,616	)		$	534,363
Color			456,175				-			456,175				408,166				(1,638	)			406,528
Asia Pacific			109,014				-			109,014				99,599				(295	)			99,304
Intersegment elimination			(35,996	)			-			(35,996	)			(29,928	)			150				(29,778	)
Consolidated		$	1,088,303			$	-		$	1,088,303			$	1,039,816			$	(29,399	)		$	1,010,417
Operating Income
Flavors & Extracts		$	83,929			$	-		$	83,929			$	76,718			$	(2,859	)		$	73,859
Color			90,035				-			90,035				79,462				548				80,010
Asia Pacific			22,877				-			22,877				19,146				(87	)			19,059
Corporate & Other			(41,315	)			-			(41,315	)			(45,718	)			11,491				(34,227	)
Consolidated		$	155,526			$	-		$	155,526			$	129,608			$	9,093			$	138,701
(2) For Revenue, adjustments consist of revenues of the divested product lines. For Operating Income, adjustments consist of the results of the divested product lines, divestiture & other related costs, and 2021 operational improvement plan costs and income.

Sensient Technologies Corporation
(In thousands, except percentages)
(Unaudited)
Reconciliation of Non-GAAP Amounts - Continued
The following tables summarize the percentage change in the 2022 results compared to the 2021 results for the corresponding periods.
		Three Months Ended September 30,
Revenue		Total				Foreign Exchange Rates				Adjustments(3)			Adjusted Local Currency
Flavors & Extracts			3.0	%			(2.9	%)		(0.8	%)			6.7	%
Color			8.8	%			(5.5	%)		(0.3	%)			14.6	%
Asia Pacific			5.3	%			(9.2	%)		0.0	%			14.5	%
Total Revenue			4.9	%			(4.4	%)		(0.6	%)			9.9	%
Operating Income
Flavors & Extracts			4.7	%			(1.1	%)		0.2	%			5.6	%
Color			3.5	%			(7.4	%)		0.0	%			10.9	%
Asia Pacific			5.3	%			(11.0	%)		0.0	%			16.3	%
Corporate & Other			16.0	%			(0.1	%)		(7.4	%)			23.5	%
Total Operating Income			1.1	%			(6.5	%)		1.8	%			5.8	%
Diluted Earnings Per Share			6.3	%			(6.3	%)		5.5	%			7.1	%
Adjusted EBITDA			2.2	%			(5.6	%)		N/A				7.8	%
		Nine Months Ended September 30,
Revenue		Total				Foreign Exchange Rates				Adjustments(3)			Adjusted Local Currency
Flavors & Extracts			(0.5	%)			(2.4	%)		(5.0	%)			6.9	%
Color			11.8	%			(3.8	%)		(0.4	%)			16.0	%
Asia Pacific			9.5	%			(7.4	%)		(0.3	%)			17.2	%
Total Revenue			4.7	%			(3.3	%)		(3.0	%)			11.0	%
Operating Income
Flavors & Extracts			9.4	%			(1.2	%)		(4.0	%)			14.6	%
Color			13.3	%			(4.9	%)		0.9	%			17.3	%
Asia Pacific			19.5	%			(9.6	%)		(0.5	%)			29.6	%
Corporate & Other			(9.6	%)			0.0	%		(30.4	%)			20.8	%
Total Operating Income			20.0	%			(5.1	%)		8.4	%			16.7	%
Diluted Earnings Per Share			22.7	%			(5.1	%)		12.8	%			15.0	%
Adjusted EBITDA			12.8	%			(4.0	%)		N/A				16.8	%
(3) For Revenue, adjustments consist of revenues of the divested product lines. For Operating Income, Diluted Earnings per Share, and Adjusted EBITDA, adjustments consist of the results of the divested product lines, divestiture & other related costs, and 2021 operational improvement plan costs and income.
The following table summarizes the reconciliation between Operating Income (GAAP) and Adjusted EBITDA for the three and nine months ended September 30, 2022 and 2021.
		Three Months Ended September 30,											Nine Months Ended September 30,
		2022				2021				% Change			2022				2021				% Change
Operating income (GAAP)		$	47,493			$	46,958			1.1	%		$	155,526			$	129,608			20.0	%
Depreciation and amortization			13,082				13,011							39,262				38,828
Depreciation and amortization, divested product lines			-				(49	)						-				(146	)
Share-based compensation expense			3,785				2,243							12,476				6,431
Divestiture & other related costs, before tax			-				241							-				13,501
Results of operations of the divested product lines, before tax			-				70							-				(2,398	)
Operational improvement plan costs (income), before tax			-				483							-				(2,010	)
Adjusted EBITDA		$	64,360			$	62,957			2.2	%		$	207,264			$	183,814			12.8	%
We have included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this release and our SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and we believe the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.

Category: Earnings

View source version on businesswire.com: https://www.businesswire.com/news/home/20221020005709/en/

Amy Agallar

(414) 347-3706

Source: Sensient Technologies Corporation

FAQ

What was Sensient Technologies' revenue for Q3 2022?

Sensient Technologies reported revenue of $361.1 million for Q3 2022.

How much did diluted earnings per share increase in Q3 2022 for SXT?

Diluted earnings per share increased to 85 cents in Q3 2022 from 80 cents in Q3 2021.

What is the 2022 earnings outlook for Sensient Technologies?

Sensient expects high-teen growth in earnings per share for 2022.

How did foreign currency impact Sensient's Q3 results?

Foreign currency translation decreased revenue by approximately 4% and diluted earnings per share by 6% in Q3 2022.