Sensient Technologies Q2 Profit Surges 49%; Boosts FY22 Revenue Growth Outlook

RTTNews | 829 days ago
Stocktwits
Sensient Technologies Q2 Profit Surges 49%; Boosts FY22 Revenue Growth Outlook

(RTTNews) - Sensient Technologies Corp. (SXT) reported Friday that net income for the second quarter increased to $38.65 million or $0.92 per share from $25.94 million or $0.61 per share in the prior-year quarter.

Consolidated revenue for the quarter increased 10.7 percent to $371.71 million from $335.83 million in the prior-year quarter.

Foreign currency translation decreased revenue by approximately 3% and earnings per share by approximately 5% in the present quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.89 per share on revenues of $358.70 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2022, the company continues to project earnings per share to grow at a high-teen growth rate and adjusted earnings per share to grow at a high single- to double-digit rate in local currency on revenue growth in the high single digit rate in local currency.

Annual revenues are now expected to grow at a high single digit rate in local currency, compared to the prior forecast for a mid-to-high single digit growth rate in local currency.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: SXT
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UK Business Confidence Sinks To 4-month Low Ahead Of Budget

UK Business Confidence Sinks To 4-month Low Ahead Of Budget

Confidence among U.K. employers fell to its lowest in four months in October as they adopted a cautious stance ahead of the first budget presentation by the new chancellor Rachel Reeves later this week, results of a survey showed Monday. The Lloyds Business Barometer fell three points to 44 percent, the lowest score since June, the survey that covered 1,200 companies between October 1 - 15 showed.
RTTNews | 4h 29min ago
Election, Economy, Escalation And Expectations Enhance Dollar's Appeal

Election, Economy, Escalation And Expectations Enhance Dollar's Appeal

Uncertainty surrounding the presidential election in the U.S., data underscoring the resilience of the U.S. economy, the escalation in geopolitical tensions in the Middle East as well as the sobering rate cut expectations boosted the U.S. dollar during the week ended October 25.
RTTNews | 5h 13min ago
Target Cuts Thanksgiving Meal Price, Offers Free Frozen Pizza

Target Cuts Thanksgiving Meal Price, Offers Free Frozen Pizza

Target Corp. announced it is lowering the price of its Thanksgiving meal by $5 than last year's offering. At $20, the retail major's popular Thanksgiving meal featuring turkey, stuffing and five additional side dishes can feed four people. In addition, between November 13 and 16, Target is offering a free frozen pizza with a same-day delivery order for all members of the Target Circle 360.
RTTNews | 6h 38min ago
Sensex, Nifty Snap Five-day Losing Streak

Sensex, Nifty Snap Five-day Losing Streak

Indian shares rose notably on Monday as concerns over Middle East tensions eased and private sector lender ICICI Bank posted robust Q2 numbers.
RTTNews | 8h 5min ago
Philips Cuts FY24 Sales View On Weak China Demand; Shares Hit

Philips Cuts FY24 Sales View On Weak China Demand; Shares Hit

Shares of Philips N.V. were losing around 17 percent in the morning trading in Amsterdam as well as in pre-market activity on the NYSE, after the Dutch consumer electronics giant trimmed its comparable sales growth view for fiscal 2024 after reporting weak sales and orders and flat comparable sales in its third quarter. The sales mainly were hit by further deteriorated demand in China.
RTTNews | 8h 20min ago
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