NYSE$SXT
Sensient Technologies Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Sensient's Q1 2024 results were reported, and full-year guidance was raised.
Sensient Technologies Corporation reported a 4.2% increase in revenue to $384.7 million for the first quarter of 2024. However, operating income decreased by 2.8% to $49.4 million, and diluted earnings per share decreased by 8.8% to 73 cents. The company has raised its full-year guidance, expecting mid-single-digit growth in revenue and adjusted EBITDA on a local currency basis.
- Revenue increased by 4.2% to $384.7 million compared to the previous year.
- Operating income decreased by 2.8% to $49.4 million.
- Diluted earnings per share decreased by 8.8% to 73 cents.
- Full-year guidance raised, expecting mid-single-digit growth in revenue and adjusted EBITDA.
Headline financials
Revenue & EPS history
Sensient · Revenue · Quarterly
$385M
Revenue by segment
Sensient · $373M total across 3 segments · Q3 2023
- Flavors & Extracts$191M+2.1%51.2%
- Color$145M-4.3%38.9%
- Asia Pacific$36.8M+4.4%9.9%
Forward guidance
Sensient expects 2024 diluted earnings per share to be between $2.80 and $2.90, including approximately 15 cents of Portfolio Optimization Plan costs. The company anticipates revenue and adjusted EBITDA to grow at a mid-single-digit rate on a local currency basis. Adjusted diluted earnings per share are expected to grow at a low to mid-single-digit rate on a local currency basis. The company expects higher interest expense and a full-year adjusted tax rate between 24% and 25%.
Tailwinds
- Revenue is expected to grow at a mid-single-digit rate on a local currency basis.
- Adjusted EBITDA is expected to grow at a mid-single-digit rate on a local currency basis.
- Adjusted diluted earnings per share are expected to grow at a low to mid-single-digit rate on a local currency basis.
- Company expects 2024 diluted earnings per share to be between $2.80 and $2.90
- The Company also expects its full year 2024 adjusted tax rate to be between 24% and 25%.
Headwinds
- Diluted earnings per share will include approximately 15 cents of Portfolio Optimization Plan costs.
- Diluted earnings per share are expected to be impacted by higher interest expense.
- Color Group's revenue was negatively impacted by lower volumes in the food and pharmaceutical product line, primarily due to market declines and modest customer destocking.
- Asia Pacific Group's revenue benefited from higher volumes, partially offset by unfavorable exchange rates.
- Company's guidance is based on current conditions and economic and market trends and is subject to various risks and uncertainties.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-0.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+0.3%
Avg return
30 days after
49%
34 / 69 earnings
Positive
+24.6%
Q1 2026
Best reaction
-16.1%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +24.6% | +21.5% | +15.2% | |
| Q4 2025 | -5.0% | -6.4% | -9.0% | |
| Q3 2025 | +2.8% | +7.1% | +8.6% | |
| Q2 2025 | -4.3% | -5.7% | -11.9% | |
| Q1 2025 | +13.5% | +17.2% | +17.2% | |
| Q4 2024 | -7.5% | -9.0% | -4.8% | |
| Q3 2024 | +2.2% | -0.3% | +1.5% | |
| Q2 2024 | -2.8% | -3.1% | -6.4% | |
| Q1 2024 | +4.4% | +5.8% | +8.4% | |
| Q4 2023 | -4.2% | -3.0% | +8.9% | |
| Q3 2023 | +1.0% | -1.2% | +8.1% | |
| Q2 2023 | -7.3% | -5.1% | -15.6% | |
| Q1 2023 | +2.8% | +2.4% | -1.6% | |
| Q4 2022 | +6.0% | +9.1% | -3.3% | |
| Q3 2022 | -6.6% | -1.8% | +4.2% | |
| Q2 2022 | -1.0% | +1.1% | +2.6% | |
| Q1 2022 | +0.6% | +3.1% | +3.1% | |
| Q4 2021 | -3.8% | -2.8% | -9.7% | |
| Q3 2021 | +4.9% | +4.4% | +10.8% | |
| Q2 2021 | +6.0% | +5.5% | +5.8% | |
| Q1 2021 | +2.2% | +1.4% | +6.6% | |
| Q4 2020 | -3.0% | -0.9% | +3.8% | |
| Q3 2020 | +7.5% | +8.8% | +14.2% | |
| Q2 2020 | -3.5% | -4.0% | -2.7% | |
| Q1 2020 | +2.2% | -0.4% | +7.2% | |
| Q4 2019 | -10.4% | -9.0% | -25.7% | |
| Q3 2019 | -9.2% | -7.1% | -5.6% | |
| Q2 2019 | -2.9% | -0.7% | -6.1% | |
| Q1 2019 | +1.3% | +4.1% | -3.5% | |
| Q4 2018 | +1.3% | +3.1% | +6.5% | |
| Q3 2018 | -16.1% | -17.5% | -13.9% | |
| Q2 2018 | -7.6% | -7.9% | -4.2% | |
| Q1 2018 | +1.1% | -0.8% | +1.7% | |
| Q4 2017 | -1.1% | +0.8% | +8.5% | |
| Q3 2017 | +0.6% | -1.7% | -4.1% | |
| Q2 2017 | -7.2% | -7.1% | -11.3% | |
| Q1 2017 | +1.5% | -0.4% | -2.1% | |
| Q4 2016 | +2.0% | +2.5% | +2.5% | |
| Q3 2016 | +1.2% | +2.0% | +5.3% | |
| Q2 2016 | +6.2% | +4.0% | +3.4% | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | -6.6% | — | — | |
| Q3 2015 | -0.2% | — | — | |
| Q2 2015 | -2.6% | — | — | |
| Q1 2015 | +1.9% | — | — | |
| Q4 2014 | +0.4% | — | — | |
| Q3 2014 | +1.6% | — | — | |
| Q2 2014 | +2.9% | — | — | |
| Q1 2014 | -0.7% | — | — | |
| Q4 2013 | +0.3% | — | — | |
| Q3 2013 | +7.3% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | +3.2% | — | — | |
| Q4 2012 | -1.7% | — | — | |
| Q3 2012 | -5.2% | — | — | |
| Q2 2012 | -3.6% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | -0.3% | — | — | |
| Q3 2011 | -3.8% | — | — | |
| Q2 2011 | -2.9% | — | — | |
| Q1 2010 | +3.1% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q4 2010 | +0.6% | — | — | |
| Q3 2010 | -1.2% | — | — | |
| Q3 2009 | -1.2% | — | — | |
| Q2 2009 | -0.2% | — | — | |
| Q2 2010 | -0.2% | — | — | |
| Q4 2008 | -0.2% | — | — | |
| Q4 2009 | -0.2% | — | — |
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