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Sensient Technologies Corporation (NYSE:SXT) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Sensient Technologies Corporation Earnings Cheat Sheet
Results: Net income decreased -4.86% to $27.2 million (55 cents per diluted share) in the quarter versus a net gain of $28.59 million in the year-earlier quarter.
Revenue: Rose 4.65% to $356.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sensient Technologies Corporation reported adjusted net income of 55 cents per share. By that measure, the company missed the mean analyst estimate of $0.61. It beat the average revenue estimate.
Quoting Management: “We achieved record revenues and earnings for a third consecutive year despite a very challenging environment,” said Kenneth P. Manning, Chairman and CEO of Sensient Technologies Corporation. “We increased our dividend, repurchased shares and continued to reinvest in our business during 2012. The Company is strong and the 2013 restructuring activities will give us better access to our customers, increase our efficiencies and improve our operating margins. We continue to see growth opportunities and I am very optimistic about the Company’s future.”
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