05.02.19
Sensient Technologies reported earnings per share of 78 cents in the first quarter of 2019 compared to 89 cents in last year’s first quarter. Revenue was $347.5 million in this year’s first quarter compared to $356.5 million in the comparable period last year.
Operating income was $49.4 million in the first quarter of 2019 and $55.7 million in last year’s first quarter. Foreign currency translation decreased revenue, operating income, and earnings per share by approximately 3% in the quarter.
The Color Group reported revenue of $143.9 million in the quarter compared to $147.2 million in last year’s first quarter. Segment operating income was $30.2 million in the quarter compared to $33.7 million in last year’s comparable period. Foreign currency decreased both revenue and operating income by approximately 5% in the period.
The group’s local currency revenue growth was the result of double-digit revenue increases in natural colors in the Food & Beverage Colors business. Growth in this product line was partially offset by lower sales in the Cosmetic business. Color Group operating income was lower in the quarter due to higher raw material costs, product mix and continued softness in the global cosmetic makeup market.
The Flavors & Fragrances Group reported first quarter revenue of $183.6 million compared to $188.3 million reported in the comparable period last year. Higher revenue in the flavors and fragrances product lines was offset by lower revenue in certain ingredient product lines. Segment operating income was $23.1 million in the first quarter compared to $25.3 million reported in the first quarter of 2018.
The Asia Pacific Group reported revenue of $28.5 million in the quarter compared to $30.3 million reported in the comparable prior year period. Segment operating income was $4.2 million and $4.9 million in the first quarters of 2019 and 2018, respectively.
“I am confident that our overall results will continue to improve throughout the year. We expect continued growth in flavors and natural colors and we expect to overcome the impact of higher input costs as the year progresses,” said Paul Manning, chairman, president and CEO of Sensient Technologies.
Operating income was $49.4 million in the first quarter of 2019 and $55.7 million in last year’s first quarter. Foreign currency translation decreased revenue, operating income, and earnings per share by approximately 3% in the quarter.
The Color Group reported revenue of $143.9 million in the quarter compared to $147.2 million in last year’s first quarter. Segment operating income was $30.2 million in the quarter compared to $33.7 million in last year’s comparable period. Foreign currency decreased both revenue and operating income by approximately 5% in the period.
The group’s local currency revenue growth was the result of double-digit revenue increases in natural colors in the Food & Beverage Colors business. Growth in this product line was partially offset by lower sales in the Cosmetic business. Color Group operating income was lower in the quarter due to higher raw material costs, product mix and continued softness in the global cosmetic makeup market.
The Flavors & Fragrances Group reported first quarter revenue of $183.6 million compared to $188.3 million reported in the comparable period last year. Higher revenue in the flavors and fragrances product lines was offset by lower revenue in certain ingredient product lines. Segment operating income was $23.1 million in the first quarter compared to $25.3 million reported in the first quarter of 2018.
The Asia Pacific Group reported revenue of $28.5 million in the quarter compared to $30.3 million reported in the comparable prior year period. Segment operating income was $4.2 million and $4.9 million in the first quarters of 2019 and 2018, respectively.
“I am confident that our overall results will continue to improve throughout the year. We expect continued growth in flavors and natural colors and we expect to overcome the impact of higher input costs as the year progresses,” said Paul Manning, chairman, president and CEO of Sensient Technologies.