Sensient Technologies Corp (SXT) said after close Thursday that it earned $0.51 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $349.3 million, missing estimates by $21.7 million.
In the same quarter a year ago, the company earned $0.64 per share on revenue of $348.7 million.
The stock is down 5.24% to $59.45 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Sensient Technologies Corp a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 29. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Sensient Technologies Corp manufactures and markets natural and synthetic colors, flavors, and flavor extracts. The company has a widespread network of facilities around the globe, and its customers operate across a variety of end markets. Sensient's offerings are predominantly applied to consumer-facing products, including food and beverage, cosmetics and pharmaceuticals. The company's three reportable segments were the Flavors & Extracts Group and the Color Group and, Asia Pacific Group.
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Sensient Technologies Corp Down 5.24% To $59.45 After Earnings Miss
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