Sensient earnings rise; Paul Manning named next CEO
12:16 PM MDT | July 26, 2013
Sensient Technologies has reported second-quarter earnings down 7.5% year-on-year (YOY), to $32.3 million, or 65 cts/share, on revenues up 3%, to $378.8 million. Adjusted earnings, which exclude costs related to the restructuring of Sensientâ€™s flavors and fragrances business, totaled 74 cts/share, ahead of analystsâ€™ consensus estimate of 72 cts/share, as reported by Thomson Reuters (New York). Flavors and fragrances revenues rose 4.1% YOY, to $227.9 million, while segment operating income declined 2,7%, to $32.6 million, on higher raw material costs. Colors...
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