Sensient income down, beats estimates on currency translation

Sensient Technologies reported fourth-quarter income down 2.6% year-on-year (YOY), to $330.2 million, on operating income up 37% YOY, to $43.3 million. Adjusted earnings of 80 cts/share beat the average analyst estimate of 78 cts/share as compiled by Thomson Reuters (New York).The results were impacted by currency translations which reduced income by 2%, operating income by 3%, and earnings per share by 5% in the quarter. Income in the flavors & fragrances segment fell 7% YOY, to $187 million, impacted by a negative currency translation. Income in the colors segment rose 1.3% YOY, to $119 million, driven by strong results in the cosmetics business. Income in the Asia-Pacific segment increased 9.3% YOY, to $$32.5 million, impacted by a positive currency translation.

Sensient chairman, president and CEO Paul Manning says that he is “pleased with the company’s performance,” while “optimistic about the future.” For full-year 2017, Sensient expects to earnings per share from continuing operations to be between $2.76-$2.86