Sensient Technologies Corporation has reported a consolidated revenue of $359.7 million in this year’s first quarter, compared to $350.7 million in last year’s first quarter.
Reported operating income in the first quarter of 2021 was $46.9 million, compared to $34.6 million in the first quarter of 2020.
Reported diluted earnings per share was 75 cents in the first quarter of 2021 compared to 49 cents in the first quarter of 2020.
As for the flavors and extracts group, it reported first quarter revenue of $200.9 million, compared to $186.5 million reported in the comparable period last year, an increase of 7.7%. The higher profit was primarily a result of the higher volumes, product mix from strong flavor sales and the favorable impact of the group’s cost reduction initiatives
In April 2021, the company also completed the divestiture of its fragrances product line.