Sensient Q3 2021 Earnings Report
Key Takeaways
Sensient Technologies Corporation reported a 6.4% increase in consolidated revenue, reaching $344.3 million compared to $323.6 million in the third quarter of the previous year. The Color Group experienced double-digit revenue and profit growth, while the Flavors & Extracts Group continued its strong performance.
Consolidated revenue increased by 6.4% compared to the third quarter of the previous year.
Adjusted consolidated local currency revenue growth reached 13.0%.
The Flavors & Extracts Group sustained its strong performance.
The Color Group reported double-digit revenue and profit growth.
Sensient
Sensient
Sensient Revenue by Segment
Sensient Revenue by Geographic Location
Forward Guidance
Sensient reconfirmed its 2021 guidance for GAAP diluted earnings per share to grow at a mid-to-high single-digit growth rate. The company expects its 2021 adjusted local currency revenue to grow at a high single-digit rate and adjusted local currency EBITDA and adjusted diluted earnings per share, on a local currency basis, to grow at a mid-to-high single-digit growth rate.
Positive Outlook
- Reconfirming previously issued 2021 guidance for GAAP diluted earnings per share growth.
- Expecting 2021 adjusted local currency revenue to grow at a high single-digit rate.
- Projecting 2021 adjusted local currency EBITDA growth at a mid-to-high single-digit rate.
- Forecasting 2021 adjusted diluted earnings per share growth at a mid-to-high single-digit rate.
- Expecting earnings per share reported on a U.S. dollar basis to benefit by approximately seven cents based on current exchange rates.
Challenges Ahead
- Full year 2021 guidance includes approximately 25 cents per share of estimated divestiture & other related costs.
- Full year 2021 guidance includes the results of the divested operations.
- Full year 2021 guidance includes the operational improvement plan costs.
- Guidance is based upon current trends, current tax law, and the effects of COVID-19 to date.
- The full impacts of the ongoing COVID-19 pandemic remain uncertain and management will continue to monitor its impacts on our business.
Revenue & Expenses
Visualization of income flow from segment revenue to net income