Sensient Q3 Net Down on Restructuring Costs; Raises Top of '14 Outlook

Sensient Technologies Corp.’s third-quarter earnings fell to $21.3 million from $31.5 million a year ago, including restructuring costs. Adjusted operating income, excluding restructuring costs, increased 2.5% to $57.1 million.

Third-quarter revenue fell 1.6% to $364.5 million and the flavors and fragrances group reported third-quarter revenue of $215.5 million compared to the $225 million reported in the prior year's third quarter.

The company raised the top end of its 2014 full-year earnings outlook to $2.98 and $3.02, excluding restructuring and other costs. Its previous guidance had been a range of $2.95 and $3.02 a share.

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