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Sensient Technologies Announces Q3 2019 Financials

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Sensient Technologies Corporation has announced its Q3 2019 financial results.

The company reported revenue of $317.7 million, down from $342.7 million during the comparable period of 2018 (a decrease of 7.3%).

By Segment

  • Flavors & fragrances: $167.6 million, down 9.1%—Higher revenue in finished flavors and extracts product lines was offset by lower revenue in certain flavor ingredient product lines.  
  • Color: $127 million, down 6%—Results were favorably impacted by continued growth in natural colors in the food and beverage color business and growth in pharmaceuticals, which was offset by lower sales in cosmetic, inks and industrial businesses.
  • Asia Pacific: $30.1 million, down 3.7%—Foreign currency translation increased segment revenue by approximately 2%, and increased operating income by approximately 5% during the quarter

“While the market has been challenging this year, I am optimistic in the continued growth of our core strategic businesses,” said chairman, president and CEO Paul Manning. “Adjusting our current product portfolio will significantly improve the Company’s long-term outlook.”