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Sensient Reports Q2 Results

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The 2021 second quarter reported results include divestiture and other related costs and operational improvement plan costs.

Sensient Technologies Corporation has reported consolidated revenue of $335.8 million in this year’s second quarter.

Related: Sensient Technologies Acquires Flavor Solutions Assets

Reported operating income in the second quarter of 2021 was $35.8 million; reported diluted earnings per share was 61 cents in the second quarter of 2021; foreign currency translation increased revenue and earnings per share by approximately 4% and 6%, respectively.

The 2021 second quarter reported results included divestiture and other related costs and operational improvement plan costs, which in total decreased second-quarter net earnings by $7.0 million ($0.16 per diluted share).

The 2021 and 2020 second-quarter results also include the operations of the divested product lines, which included $2.2 million of revenue and decreased diluted earnings per share by $0.01 in the second quarter of 2021 and included $28.2 million of revenue and were not significant to diluted earnings per share in the second quarter of 2020.

The Flavors & Extracts Group reported second-quarter revenue of $179.4 million compared to $183.6 million reported in the comparable period last year, a decrease of 2.3%, primarily due to the divestiture of the Fragrances product line in early April 2021.

The Color Group reported revenue of $133.2 million in the quarter compared to $121.3 million in last year’s comparable period, an increase of 9.8%.

The Asia Pacific Group reported revenue of $32.3 million in the quarter compared to $27.9 million in last year’s comparable period, an increase of 15.9%.

Corporate & Other reported operating costs of $20.2 million in the current quarter compared to $7.7 million in last year’s comparable period, an increase of 160.9%.

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