Sensient Reports Third Quarter Results

The report conveys consolidated revenue of $344.3 million in this year’s third quarter compared to $323.6 million in last year’s third quarter.
The report conveys consolidated revenue of $344.3 million in this year’s third quarter compared to $323.6 million in last year’s third quarter.

Sensient Technologies Corporation has released a financial report for Q3. The report conveys consolidated revenue of $344.3 million in 2021’s third quarter compared to $323.6 million in Q3 of 2020.

Related: Sensient Technologies Acquires Flavor Solutions Assets

The reported operating income in the third quarter of 2021 was $47.0 million compared to $41.2 million in the third quarter of 2020. Reported diluted earnings per share were 80 cents in the third quarter of 2021 compared to 78 cents in the third quarter of 2020. Foreign currency translation increased revenue by approximately 1% and was not material to earnings per share in the quarter.

The 2021 third-quarter reported results to include divestiture and other related costs and operational improvement plan costs, which in total decreased third-quarter net earnings by $1.8 million ($0.04 per diluted share).

The Flavors & Extracts Group reported third-quarter revenue of $181.7 million compared to $182.9 million reported in the comparable period last year, a decrease of 0.7%, primarily due to the divestiture of the Fragrances product line in April 2021. Segment operating income was $25.2 million in the current quarter compared to $23.8 million reported in the comparable period last year, an increase of 5.5%.

The acquisition of Flavor Solutions, Inc. during the third quarter contributed $2.4 million of revenue and an immaterial amount of operating income to the Flavors & Extracts Group.

The Color Group reported revenue of $139.2 million in the quarter compared to $116.4 million in last year’s comparable period, an increase of 19.6%. Segment operating income was $27.3 million in the quarter compared to $23.6 million in last year’s comparable period, an increase of 15.7%.

The Asia Pacific Group reported revenue of $33.4 million in the quarter compared to $30.7 million in last year’s comparable period, an increase of 8.8%. Segment operating income was $6.6 million in the quarter compared to $6.1 million in last year’s comparable quarter, an increase of 7.8%.

Corporate & Other reported operating costs of $12.1 million in the current quarter compared to $12.4 million in last year’s comparable period, a decrease of 2.5%.

Want to know everything going on in flavor & fragrance? Sign up for P&F+'s newsletter. You can also follow along on Instagram and LinkedIn.

More in Ingredients