Sensient Reports Q2 Results

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

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