Sensient Technologies earnings rise on higher margins

Sensient Technologies third-quarter earnings rose 2.7% year-on-year (YOY), to $32.9 million, on revenues up 1.5%, to $369.4 million. Earnings totaled 66 cts/share, matching analysts’ consensus, as reported by Thomson Reuters (New York). “Sensient delivered another strong performance in the third quarter despite the difficult economic conditions,” says CEO Kenneth Manning.   Flavors and fragrances group sales were up 2% YOY, to $224.7 million, while segment operating income fell 4%, to $31.8 million. Inventory destocking affected demand...

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