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Markets :: Specialty Chemicals :: Flavors and fragrances
Sensient earnings beat estimates on strong colors results
2:08 PM MST | February 10, 2014 | Vincent Valk
Sensient Technologies today reported net earnings down 4.1% year-on-year (YOY), to $31.5 million, or 63 cts/share on sales up 0.7%, to $372 million. Earnings were hit by charges related to restructuring initiatives, which include consolidating facilities, job reductions, and moving the headquarters of Sensient’s flavors and fragrances segment. Excluding these charges, adjusted earnings totaled 72 cts/share, up 9.1% YOY and ahead of analysts’ consensus estimate of 63 cts/share, as reported by Thomson Reuters (New York). The flavors and fragrances...
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