MILWAUKEE: Sensient Technologies Corporation (NYSE: SXT), a global supplier of flavors and colors for food, pharmaceutical, and personal care industries, on Friday reported second-quarter earnings that beat expectations, driven by solid growth in the Color and Asia Pacific segments.
Revenue rose 2.7% to $414.2 million, compared to $403.5 million in the same period last year. On a local currency basis, revenue increased 2.1%.
Operating income jumped 16.2% to $57.7 million, despite $3.3 million in costs tied to the company’s Portfolio Optimization Plan. Adjusted EBITDA rose 14.1%, while earnings per share climbed 20.5% to $0.88.
“Our results reflect the strength of our innovation and customer focus,” said Paul Manning, Chairman, President and CEO. “We are well-positioned for continued growth in 2025.”
Color Group revenue surged 6.9% to $179.3 million, with operating income up 23.6% to $38.9 million. The Asia Pacific Group posted a 10.8% rise in revenue to $42.7 million, driven by widespread regional growth. Flavors & Extracts saw a 2.8% decline in revenue due to lower volumes in natural ingredients, though segment income rose 8.8% thanks to increased profitability in flavor lines.
Sensient reaffirmed its full-year outlook, projecting mid-single-digit local currency revenue growth and adjusted diluted EPS between $3.13 and $3.23, including costs from its optimization plan.