US Market News
2月前
Sensient Technologies Corporation Reports Results for the Quarter Ended March 31, 2026April 24, 2026 6:55 AM
Business Wire
Sensient Technologies Corporation (NYSE: SXT), a leading provider of flavors and colors for the food, pharmaceutical, and personal care markets, today reported financial results for the first quarter ended March 31, 2026.
First Quarter Consolidated Results
Reported revenue increased 11.1% to $435.8 million in the first quarter of 2026 versus last year’s first quarter results of $392.3 million. On a local currency basis(1), revenue increased 7.2%.
Reported operating income increased 24.7% to $66.7 million compared to $53.5 million recorded in last year’s first quarter. In the first quarter of 2025, the Company recorded $2.9 million of costs related to its Portfolio Optimization Plan versus no costs recorded in the first quarter of 2026. Local currency adjusted operating income(1) and local currency adjusted EBITDA(1) were up 12.2% and 10.4%, respectively, in the first quarter.
Reported earnings per share increased 28.4% to $1.04 in the first quarter of 2026 compared to 81 cents in the first quarter of 2025. Local currency adjusted diluted EPS(1) increased 14.0% in the first quarter.
“Sensient delivered strong results to start off the year. We executed on our strategy and continue to strengthen our position for the opportunities ahead, particularly in the area of natural colors. I remain very confident about our performance and am pleased to increase our guidance for 2026,” said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer.
First Quarter Group Results
Reported
Local Currency(1)
Revenue
Quarter
Quarter
Flavors & Extracts
4.2%
1.7%
Color
18.1%
12.3%
Asia Pacific
8.0%
4.7%
Total Revenue
11.1%
7.2%
Reported
Local Currency Adjusted(1)
Operating Income
Quarter
Quarter
Flavors & Extracts
7.0%
5.1%
Color
20.7%
13.2%
Asia Pacific
18.4%
14.5%
Total Operating Income
24.7%
12.2%
The Flavors & Extracts Group reported first quarter 2026 revenue of $201.8 million, an increase of $8.1 million versus the prior year’s first quarter. The Group’s revenue increase was driven primarily by higher prices and volume growth. Segment operating income was $26.8 million in the first quarter of 2026, an increase of $1.8 million compared to the prior year’s first quarter.
The Color Group reported revenue of $198.2 million in the first quarter of 2026, an increase of $30.4 million compared to the prior year’s first quarter. The Group’s revenue increase was driven by strong volume growth and higher prices across the Group. Segment operating income was $42.1 million in the first quarter of 2026, an increase of $7.2 million compared to the prior year’s first quarter results.
The Asia Pacific Group reported revenue of $45.3 million in the first quarter of 2026, an increase of $3.4 million compared to the prior year’s first quarter. The Group’s revenue increase was driven by strong volume growth and higher prices across the Group. Segment operating income was $11.2 million in the quarter, an increase of $1.7 million compared to the prior year’s first quarter.
Corporate & Other reported operating expenses were $13.3 million in the first quarter of 2026, compared to $15.8 million of operating expenses reported in the prior year’s first quarter. The lower operating expenses were primarily due to Portfolio Optimization Plan costs in the prior year’s first quarter. Local currency adjusted operating expenses(1) for Corporate & Other increased $0.4 million compared to the prior year’s first quarter.
2026 OUTLOOK
Metric
Current Guidance
Prior Guidance
Local Currency Revenue(1)
High Single-Digit to Double-Digit Growth
Mid-Single-Digit to Double-Digit Growth
Local Currency Adjusted EBITDA(1)
High Single-Digit to Double-Digit Growth
Mid-Single-Digit to Double-Digit Growth
Diluted EPS (GAAP)
Between $3.70 and $3.90*
Between $3.60 and $3.80*
Local Currency Adjusted Diluted EPS(1)
High Single-Digit to Double-Digit Growth
Mid-Single-Digit to High Single-Digit Growth
*Based on current exchange rates, foreign currency impact is expected to be immaterial for the year.
The Company’s guidance is based on current conditions and economic and market trends in the markets in which the Company operates and is subject to various risks and uncertainties as described below.
(1)
Please refer to “Reconciliation of Non-GAAP Amounts” at the end of this release for more information regarding our non-GAAP financial measures.
USE OF NON-GAAP FINANCIAL MEASURES
The Company’s non-GAAP financial measures eliminate the impact of certain items, which, depending on the measure, include: currency movements, depreciation and amortization, Portfolio Optimization Plan costs, and non-cash share-based compensation. These measures are provided to enhance the overall understanding of the Company’s performance when viewed together with the GAAP results. Refer to “Reconciliation of Non-GAAP Amounts” at the end of this release.
CONFERENCE CALL
The Company will host a conference call to discuss its 2026 first quarter financial results at 8:30 a.m. CDT on Friday, April 24, 2026. To participate in the conference call, contact Chorus Call Inc. at (844) 492-3726 or (412) 317-1078, and ask to join the Sensient Technologies Corporation conference call. Alternatively, the call can be accessed by using the webcast link that is available on the Investor Information section of the Company’s web site at www.sensient.com.
A replay of the call will be available one hour after the end of the conference call through May 1, 2026 by calling (855) 669-9658 and using access code 1602690. An audio replay and written transcript of the call will also be posted on the Investor Information section of the Company’s web site at www.sensient.com on or after April 28, 2026.
This release contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws including in the quote from our Chairman, President, and Chief Executive Officer and under “2026 Outlook” above. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the Company’s ability to manage general business, economic, and capital market conditions, including actions taken by customers in response to such market conditions, and the impact of recessions and economic downturns; the impact of macroeconomic and geopolitical volatility, including inflation and shortages impacting the availability and cost of raw materials, energy, and other supplies, disruptions and delays in the Company’s supply chain, and the conflicts between Russia and Ukraine and in the Middle East; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; the availability and cost of labor, logistics, and transportation; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences, changing technologies, and changing regulations; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and Portfolio Optimization Plan; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; the Company’s ability to enhance its innovation efforts and drive cost efficiencies; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition, and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.
ABOUT SENSIENT TECHNOLOGIES
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
www.sensient.com
Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
Consolidated Statements of Earnings
Three Months Ended March 31,
2026
2025
% Change
Revenue
$
435,834
$
392,325
11.1
%
Cost of products sold
283,146
260,548
8.7
%
Selling and administrative expenses
85,960
78,247
9.9
%
Operating income
66,728
53,530
24.7
%
Interest expense
7,902
7,341
Earnings before income taxes
58,826
46,189
Income taxes
14,656
11,727
Net earnings
$
44,170
$
34,462
28.2
%
Earnings per share of common stock:
Basic
$
1.04
$
0.82
Diluted
$
1.04
$
0.81
Average common shares outstanding:
Basic
42,294
42,197
Diluted
42,671
42,469
Results by Segment
Three Months Ended March 31,
Revenue
2026
2025
% Change
Flavors & Extracts
$
201,825
$
193,681
4.2
%
Color
198,176
167,750
18.1
%
Asia Pacific
45,255
41,901
8.0
%
Intersegment elimination
(9,422
)
(11,007
)
Consolidated
$
435,834
$
392,325
11.1
%
Operating Income
Flavors & Extracts
$
26,750
$
24,989
7.0
%
Color
42,065
34,852
20.7
%
Asia Pacific
11,180
9,442
18.4
%
Corporate & Other
(13,267
)
(15,753
)
Consolidated
$
66,728
$
53,530
24.7
%
Sensient Technologies Corporation
(In thousands)
(Unaudited)
Consolidated Condensed Balance Sheets
March 31,
December 31,
2026
2025
Cash and cash equivalents
$
38,542
$
36,533
Trade accounts receivable
342,295
305,380
Inventories
681,730
678,220
Prepaid expenses and other current assets
58,971
59,717
Fixed assets held for sale
-
1,598
Total Current Assets
1,121,538
1,081,448
Goodwill & intangible assets (net)
446,282
449,827
Property, plant, and equipment (net)
550,555
539,296
Other assets
169,213
173,566
Total Assets
$
2,287,588
$
2,244,137
Trade accounts payable
$
114,222
$
138,344
Short-term borrowings
232
352
Other current liabilities
109,259
124,887
Total Current Liabilities
223,713
263,583
Long-term debt
767,558
709,232
Accrued employee and retiree benefits
24,163
24,045
Other liabilities
53,273
53,763
Shareholders' Equity
1,218,881
1,193,514
Total Liabilities and Shareholders' Equity
$
2,287,588
$
2,244,137
Sensient Technologies Corporation
(In thousands, except per share amounts)
(Unaudited)
Consolidated Statements of Cash Flows
Three Months Ended March 31,
2026
2025
Cash flows from operating activities:
Net earnings
$
44,170
$
34,462
Adjustments to arrive at net cash provided by operating activities:
Depreciation and amortization
15,538
15,074
Share-based compensation expense
3,776
2,900
Net (gain) loss on assets
(305
)
46
Portfolio Optimization Plan costs
-
831
Deferred income taxes
1,897
1,282
Changes in operating assets and liabilities:
Trade accounts receivable
(37,718
)
(20,780
)
Inventories
(5,360
)
7,202
Prepaid expenses and other assets
(270
)
(8,064
)
Trade accounts payable and other accrued expenses
(22,837
)
(25,859
)
Accrued salaries, wages, and withholdings
(15,273
)
(21,665
)
Income taxes
2,562
4,989
Other liabilities
203
604
Net cash used in operating activities
(13,617
)
(8,978
)
Cash flows from investing activities:
Acquisition of property, plant, and equipment
(28,737
)
(16,854
)
Proceeds from sale of assets
2,016
7
Acquisition of new business
-
(4,349
)
Other investing activities
(200
)
(88
)
Net cash used in investing activities
(26,921
)
(21,284
)
Cash flows from financing activities:
Proceeds from additional borrowings
140,139
66,449
Debt payments
(76,867
)
(10,771
)
Dividends paid
(17,426
)
(17,376
)
Other financing activities
(3,447
)
(2,341
)
Net cash provided by financing activities
42,399
35,961
Effect of exchange rate changes on cash and cash equivalents
148
249
Net increase in cash and cash equivalents
2,009
5,948
Cash and cash equivalents at beginning of period
36,533
26,626
Cash and cash equivalents at end of period
$
38,542
$
32,574
Supplemental Information
Three Months Ended March 31,
2026
2025
Dividends paid per share
$
0.41
$
0.41
Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
Reconciliation of Non-GAAP Amounts
The Company's results for the three months ended March 31, 2026 and 2025 include adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which, in each case, exclude Portfolio Optimization Plan costs.
Three Months Ended March 31,
2026
2025
% Change
Operating income (GAAP)
$
66,728
$
53,530
24.7
%
Portfolio Optimization Plan costs – Cost of products sold
-
1,814
Portfolio Optimization Plan costs – Selling and administrative expenses
-
1,050
Adjusted operating income
$
66,728
$
56,394
18.3
%
Net earnings (GAAP)
$
44,170
$
34,462
28.2
%
Portfolio Optimization Plan costs, before tax
-
2,864
Tax impact of Portfolio Optimization Plan costs(1)
-
(702
)
Adjusted net earnings
$
44,170
$
36,624
20.6
%
Diluted earnings per share (GAAP)
$
1.04
$
0.81
28.4
%
Portfolio Optimization Plan costs, net of tax
-
0.05
Adjusted diluted earnings per share
$
1.04
$
0.86
20.9
%
Note: Earnings per share calculations may not foot due to rounding differences.
(1) Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates.
Results by Segment
Three Months Ended March 31,
Adjusted
Adjusted
Operating Income
2026
Adjustments(2)
2026
2025
Adjustments(2)
2025
Flavors & Extracts
$
26,750
$
-
$
26,750
$
24,989
$
-
$
24,989
Color
42,065
-
42,065
34,852
-
34,852
Asia Pacific
11,180
-
11,180
9,442
-
9,442
Corporate & Other
(13,267
)
-
(13,267
)
(15,753
)
2,864
(12,889
)
Consolidated
$
66,728
$
-
$
66,728
$
53,530
$
2,864
$
56,394
(2) Adjustments consist of Portfolio Optimization Plan costs.
The following table summarizes the percentage change in the 2026 results compared to the 2025 results for the corresponding periods.
Three Months Ended March 31, 2026
Revenue
Total
Foreign
Exchange
Rates
Adjustments(3)
Local
Currency
Adjusted
Flavors & Extracts
4.2
%
2.5
%
N/A
1.7
%
Color
18.1
%
5.8
%
N/A
12.3
%
Asia Pacific
8.0
%
3.3
%
N/A
4.7
%
Total Revenue
11.1
%
3.9
%
N/A
7.2
%
Operating Income
Flavors & Extracts
7.0
%
1.9
%
0.0
%
5.1
%
Color
20.7
%
7.5
%
0.0
%
13.2
%
Asia Pacific
18.4
%
3.9
%
0.0
%
14.5
%
Corporate & Other
(15.8
%)
0.0
%
(18.7
%)
2.9
%
Total Operating Income
24.7
%
6.5
%
6.0
%
12.2
%
Diluted Earnings Per Share
28.4
%
7.4
%
7.0
%
14.0
%
Adjusted EBITDA
15.7
%
5.3
%
N/A
10.4
%
(3) Adjustments consist of Portfolio Optimization Plan costs.
Sensient Technologies Corporation
(In thousands, except percentages)
(Unaudited)
Reconciliation of Non-GAAP Amounts - Continued
The following table summarizes the reconciliation between Operating Income (GAAP) and Adjusted EBITDA for the three months ended March 31, 2026 and 2025.
Three Months Ended March 31,
2026
2025
% Change
Operating income (GAAP)
$
66,728
$
53,530
24.7
%
Depreciation and amortization
15,538
15,074
Share-based compensation expense
3,776
2,900
Portfolio Optimization Plan costs, before tax
-
2,864
Adjusted EBITDA
$
86,042
$
74,368
15.7
%
The following table summarizes the reconciliation between Debt (GAAP) and Net Debt, and Operating Income (GAAP) and Credit Adjusted EBITDA for the trailing twelve months ended March 31, 2026 and 2025.
March 31,
Debt
2026
2025
Short-term borrowings
$
232
$
18,575
Long-term debt
767,558
683,266
Credit Agreement adjustments(4)
(20,780
)
(21,165
)
Net Debt
$
747,010
$
680,676
Operating income (GAAP)
$
220,326
$
195,703
Depreciation and amortization
61,562
60,694
Share-based compensation expense
14,822
10,989
Portfolio Optimization Plan costs, before tax
12,942
6,683
Other non-operating gains(5)
(1,170
)
(871
)
Credit Adjusted EBITDA
$
308,482
$
273,198
Net Debt to Credit Adjusted EBITDA
2.4x
2.5x
(4) Adjustments include cash and cash equivalents, as described in the Company's Fourth Amended and Restated Credit Agreement (Credit Agreement), and certain letters of credit and hedge contracts.
(5) Adjustments consist of certain financing transaction costs, certain non-financing interest items, and gains and losses related to certain non-cash, non-operating, and/or non-recurring items as described in the Credit Agreement.
We have included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this release and our SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and we believe the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.
Category: Earnings
Source: Sensient Technologies Corporation
View source version on businesswire.com: https://www.businesswire.com/news/home/20260423221827/en/
David Plautz
(414) 347-3706
investor.relations@sensient.com
Original: Sensient Technologies Corporation Reports Results for the Quarter Ended March 31, 2026
US Market News
5月前
Sensient Technologies Corporation Reports Results for the Quarter Ended December 31, 2025February 13, 2026 6:55 AM
Business Wire
Sensient Technologies Corporation (NYSE: SXT), a leading provider of flavors and colors for the food, pharmaceutical, and personal care markets, today reported financial results for the fourth quarter ended December 31, 2025.
Fourth Quarter Consolidated Results
Reported revenue increased 4.5% to $393.4 million in the fourth quarter of 2025 versus last year’s fourth quarter results of $376.4 million. On a local currency basis(1), revenue increased 2.0%.
Reported operating income decreased 9.1% to $38.2 million compared to $42.0 million recorded in the fourth quarter of 2024. In the fourth quarter of 2025, the Company recorded $6.3 million of costs related to its Portfolio Optimization Plan versus last year’s $0.9 million in the fourth quarter. Local currency adjusted operating income(1) and local currency adjusted EBITDA(1) were both flat in the fourth quarter.
Reported earnings per share decreased 15.5% to 60 cents in the fourth quarter of 2025 compared to 71 cents in the fourth quarter of 2024. Local currency adjusted diluted EPS(1) increased 6.2% in the fourth quarter.
“Sensient delivered strong results in 2025 driven by exceptional new sales wins. We executed on our strategy, delivered meaningful value to our customers, and strengthened our position for the opportunities ahead. I remain very confident about our performance and the momentum we have going forward,” said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer.
Fourth Quarter Group Results
Reported
Local Currency(1)
Revenue
Quarter
Year-to-Date
Quarter
Year-to-Date
Flavors & Extracts
-0.6%
-0.9%
-2.4%
-1.3%
Color
10.9%
8.1%
7.0%
7.4%
Asia Pacific
-1.0%
3.5%
-1.9%
2.4%
Total Revenue
4.5%
3.5%
2.0%
2.9%
Reported
Local Currency Adjusted(1)
Operating Income
Quarter
Year-to-Date
Quarter
Year-to-Date
Flavors & Extracts
-10.0%
3.8%
-11.6%
3.4%
Color
12.2%
18.2%
7.2%
16.9%
Asia Pacific
2.4%
6.3%
0.6%
3.8%
Total Operating Income
-9.1%
8.1%
-0.4%
11.1%
The Flavors & Extracts Group reported fourth quarter 2025 revenue of $187.0 million, a decrease of $1.1 million versus the prior year’s fourth quarter. The Group’s revenue was unfavorably impacted by lower volumes, particularly in the agricultural ingredients product line. This decline was partially offset by higher prices. Segment operating income was $19.2 million in the fourth quarter of 2025, a decrease of $2.1 million compared to the prior year’s fourth quarter. The decrease in segment operating income was driven by the decline in the volume in the agricultural ingredients product line along with a one-time charge of approximately $3 million stemming from the impact of severe rains from atmospheric river events late in the year that disrupted the harvest and production.
The Color Group reported revenue of $175.4 million in the fourth quarter of 2025, an increase of $17.3 million compared to the prior year’s fourth quarter. The Group’s revenue increase was driven by strong volume growth and higher prices in the food and pharmaceutical product lines. Segment operating income was $29.8 million in the fourth quarter of 2025, an increase of $3.2 million compared to the prior year’s fourth quarter results.
The Asia Pacific Group reported revenue of $41.4 million in the fourth quarter of 2025, a decrease of $0.4 million compared to the prior year’s fourth quarter. Segment operating income was $8.7 million in the quarter, an increase of $0.2 million compared to the prior year’s fourth quarter.
Corporate & Other reported operating expenses were $19.5 million in the fourth quarter of 2025, compared to $14.4 million of operating expenses reported in the prior year’s fourth quarter. The higher operating expenses were primarily due to higher Portfolio Optimization Plan costs in the quarter. Local currency adjusted operating expenses(1) for Corporate & Other decreased $0.3 million compared to the prior year’s fourth quarter, primarily due to lower performance-based compensation costs recorded in 2025.
2026 OUTLOOK
Metric
Current Guidance
Local Currency Revenue(1)
Mid-Single-Digit to Double-Digit Growth
Local Currency Adjusted EBITDA(1)
Mid-Single-Digit to Double-Digit Growth
Diluted EPS (GAAP)
Between $3.60 and $3.80*
Local Currency Adjusted Diluted EPS(1)
Mid-Single-Digit to High Single-Digit Growth
*Based on current exchange rates, foreign currency impact is expected to be immaterial for the year.
The Company’s guidance is based on current conditions and economic and market trends in the markets in which the Company operates and is subject to various risks and uncertainties as described below.
(1)
Please refer to “Reconciliation of Non-GAAP Amounts” at the end of this release for more information regarding our non-GAAP financial measures.
USE OF NON-GAAP FINANCIAL MEASURES
The Company’s non-GAAP financial measures eliminate the impact of certain items, which, depending on the measure, include: currency movements, depreciation and amortization, Portfolio Optimization Plan costs, and non-cash share-based compensation. These measures are provided to enhance the overall understanding of the Company’s performance when viewed together with the GAAP results. Refer to “Reconciliation of Non-GAAP Amounts” at the end of this release.
CONFERENCE CALL
The Company will host a conference call to discuss its 2025 fourth quarter financial results at 8:30 a.m. CST on Friday, February 13, 2026. To participate in the conference call, contact Chorus Call Inc. at (844) 492-3726 or (412) 317-1078, and ask to join the Sensient Technologies Corporation conference call. Alternatively, the call can be accessed by using the webcast link that is available on the Investor Information section of the Company’s web site at www.sensient.com.
A replay of the call will be available one hour after the end of the conference call through February 20, 2026 by calling (855) 669-9658 and using access code 4128932. An audio replay and written transcript of the call will also be posted on the Investor Information section of the Company’s web site at www.sensient.com on or after February 18, 2026.
This release contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws including in the quote from our Chairman, President, and Chief Executive Officer and under “2026 Outlook” above. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the Company’s ability to manage general business, economic, and capital market conditions, including actions taken by customers in response to such market conditions, and the impact of recessions and economic downturns; the impact of macroeconomic and geopolitical volatility, including inflation and shortages impacting the availability and cost of raw materials, energy, and other supplies, disruptions and delays in the Company’s supply chain, and the conflicts between Russia and Ukraine and in the Middle East; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; the availability and cost of labor, logistics, and transportation; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences, changing technologies, and changing regulations; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and Portfolio Optimization Plan; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; the Company’s ability to enhance its innovation efforts and drive cost efficiencies; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition, and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.
ABOUT SENSIENT TECHNOLOGIES
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.
www.sensient.com
Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
Consolidated Statements of Earnings
Three Months Ended December 31,
Year Ended December 31,
2025
2024
% Change
2025
2024
% Change
Revenue
$
393,447
$
376,420
4.5
%
$
1,612,111
$
1,557,228
3.5
%
Cost of products sold
270,098
257,002
5.1
%
1,072,811
1,050,135
2.2
%
Selling and administrative expenses
85,163
77,422
10.0
%
332,172
315,514
5.3
%
Operating income
38,186
41,996
(9.1
%)
207,128
191,579
8.1
%
Interest expense
7,521
6,387
29,581
28,781
Earnings before income taxes
30,665
35,609
177,547
162,798
Income taxes
5,181
5,505
43,058
38,132
Net earnings
$
25,484
$
30,104
(15.3
%)
$
134,489
$
124,666
7.9
%
Earnings per share of common stock:
Basic
$
0.60
$
0.71
$
3.18
$
2.96
Diluted
$
0.60
$
0.71
$
3.16
$
2.94
Average common shares outstanding:
Basic
42,254
42,163
42,236
42,145
Diluted
42,669
42,454
42,595
42,396
Results by Segment
Three Months Ended December 31,
Year Ended December 31,
Revenue
2025
2024
% Change
2025
2024
% Change
Flavors & Extracts
$
187,041
$
188,114
(0.6
%)
$
786,943
$
793,698
(0.9
%)
Color
175,407
158,134
10.9
%
700,595
647,939
8.1
%
Asia Pacific
41,429
41,861
(1.0
%)
168,156
162,525
3.5
%
Intersegment elimination
(10,430
)
(11,689
)
(43,583
)
(46,934
)
Consolidated
$
393,447
$
376,420
4.5
%
$
1,612,111
$
1,557,228
3.5
%
Operating Income
Flavors & Extracts
$
19,208
$
21,345
(10.0
%)
$
100,741
$
97,094
3.8
%
Color
29,771
26,542
12.2
%
141,279
119,529
18.2
%
Asia Pacific
8,696
8,495
2.4
%
36,622
34,458
6.3
%
Corporate & Other
(19,489
)
(14,386
)
(71,514
)
(59,502
)
Consolidated
$
38,186
$
41,996
(9.1
%)
$
207,128
$
191,579
8.1
%
Sensient Technologies Corporation
(In thousands)
(Unaudited)
Consolidated Condensed Balance Sheets
December 31,
December 31,
2025
2024
Cash and cash equivalents
$
36,533
$
26,626
Trade accounts receivable
305,380
290,087
Inventories
678,220
600,302
Prepaid expenses and other current assets
59,717
44,871
Fixed assets held for sale
1,598
-
Total Current Assets
1,081,448
961,886
Goodwill & intangible assets (net)
449,827
423,658
Property, plant, and equipment (net)
539,296
491,587
Other assets
173,566
146,663
Total Assets
$
2,244,137
$
2,023,794
Trade accounts payable
$
138,344
$
139,052
Short-term borrowings
352
19,848
Other current liabilities
124,887
111,739
Total Current Liabilities
263,583
270,639
Long-term debt
709,232
613,523
Accrued employee and retiree benefits
24,045
24,499
Other liabilities
53,763
54,147
Shareholders' Equity
1,193,514
1,060,986
Total Liabilities and Shareholders' Equity
$
2,244,137
$
2,023,794
Sensient Technologies Corporation
(In thousands, except per share amounts)
(Unaudited)
Consolidated Statements of Cash Flows
Year Ended December 31,
2025
2024
Cash flows from operating activities:
Net earnings
$
134,489
$
124,666
Adjustments to arrive at net cash provided by operating activities:
Depreciation and amortization
61,098
60,329
Share-based compensation expense
13,946
10,084
Net loss (gain) on assets
289
(140
)
Portfolio Optimization Plan costs
5,273
1,415
Deferred income taxes
(2,705
)
(18,598
)
Changes in operating assets and liabilities:
Trade accounts receivable
(1,106
)
(29,638
)
Inventories
(62,226
)
(18,295
)
Prepaid expenses and other assets
(19,036
)
(5,407
)
Trade accounts payable and other accrued expenses
(1,445
)
8,995
Accrued salaries, wages, and withholdings
(5,093
)
22,518
Income taxes
1,839
(810
)
Other liabilities
2,503
2,032
Net cash provided by operating activities
127,826
157,151
Cash flows from investing activities:
Acquisition of property, plant, and equipment
(89,409
)
(59,212
)
Proceeds from sale of assets
496
339
Acquisition of new business
(4,867
)
-
Other investing activities
1,098
(336
)
Net cash used in investing activities
(92,682
)
(59,209
)
Cash flows from financing activities:
Proceeds from additional borrowings
216,485
159,321
Debt payments
(177,592
)
(167,073
)
Dividends paid
(69,614
)
(69,399
)
Other financing activities
(4,314
)
(4,395
)
Net cash used in financing activities
(35,035
)
(81,546
)
Effect of exchange rate changes on cash and cash equivalents
9,798
(18,704
)
Net increase (decrease) in cash and cash equivalents
9,907
(2,308
)
Cash and cash equivalents at beginning of period
26,626
28,934
Cash and cash equivalents at end of period
$
36,533
$
26,626
Supplemental Information
Year Ended December 31,
2025
2024
Dividends paid per share
$
1.64
$
1.64
Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
Reconciliation of Non-GAAP Amounts
The Company's results for the three and twelve months ended December 31, 2025 and 2024 include adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which, in each case, exclude Portfolio Optimization Plan costs.
Three Months Ended December 31,
Year Ended December 31,
2025
2024
% Change
2025
2024
% Change
Operating income (GAAP)
$
38,186
$
41,996
(9.1
%)
$
207,128
$
191,579
8.1
%
Portfolio Optimization Plan costs – Cost of products sold
3,279
839
7,531
1,362
Portfolio Optimization Plan costs – Selling and administrative expenses
3,001
17
8,275
5,269
Adjusted operating income
$
44,466
$
42,852
3.8
%
$
222,934
$
198,210
12.5
%
Net earnings (GAAP)
$
25,484
$
30,104
(15.3
%)
$
134,489
$
124,666
7.9
%
Portfolio Optimization Plan costs, before tax
6,280
856
15,806
6,631
Tax impact of Portfolio Optimization Plan costs(1)
(1,133
)
(3,570
)
(2,001
)
(4,156
)
Adjusted net earnings
$
30,631
$
27,390
11.8
%
$
148,294
$
127,141
16.6
%
Diluted earnings per share (GAAP)
$
0.60
$
0.71
(15.5
%)
$
3.16
$
2.94
7.5
%
Portfolio Optimization Plan costs, net of tax
0.12
(0.06
)
0.32
0.06
Adjusted diluted earnings per share
$
0.72
$
0.65
10.8
%
$
3.48
$
3.00
16.0
%
Note: Earnings per share calculations may not foot due to rounding differences.
(1) Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates.
Results by Segment
Three Months Ended December 31,
Adjusted
Adjusted
Operating Income
2025
Adjustments(2)
2025
2024
Adjustments(2)
2024
Flavors & Extracts
$
19,208
$
-
$
19,208
$
21,345
$
-
$
21,345
Color
29,771
-
29,771
26,542
-
26,542
Asia Pacific
8,696
-
8,696
8,495
-
8,495
Corporate & Other
(19,489
)
6,280
(13,209
)
(14,386
)
856
(13,530
)
Consolidated
$
38,186
$
6,280
$
44,466
$
41,996
$
856
$
42,852
Year Ended December 31,
Adjusted
Adjusted
Operating Income
2025
Adjustments(2)
2025
2024
Adjustments(2)
2024
Flavors & Extracts
$
100,741
$
-
$
100,741
$
97,094
$
-
$
97,094
Color
141,279
-
141,279
119,529
-
119,529
Asia Pacific
36,622
-
36,622
34,458
-
34,458
Corporate & Other
(71,514
)
15,806
(55,708
)
(59,502
)
6,631
(52,871
)
Consolidated
$
207,128
$
15,806
$
222,934
$
191,579
$
6,631
$
198,210
(2) Adjustments consist of Portfolio Optimization Plan costs.
Sensient Technologies Corporation
(Unaudited)
Reconciliation of Non-GAAP Amounts - Continued
The following table summarizes the percentage change in the 2025 results compared to the 2024 results for the corresponding periods.
Three Months Ended December 31, 2025
Revenue
Total
Foreign Exchange Rates
Adjustments(3)
Local Currency Adjusted
Flavors & Extracts
(0.6
%)
1.8
%
N/A
(2.4
%)
Color
10.9
%
3.9
%
N/A
7.0
%
Asia Pacific
(1.0
%)
0.9
%
N/A
(1.9
%)
Total Revenue
4.5
%
2.5
%
N/A
2.0
%
Operating Income
Flavors & Extracts
(10.0
%)
1.6
%
0.0
%
(11.6
%)
Color
12.2
%
5.0
%
0.0
%
7.2
%
Asia Pacific
2.4
%
1.8
%
0.0
%
0.6
%
Corporate & Other
35.5
%
0.0
%
37.9
%
(2.4
%)
Total Operating Income
(9.1
%)
4.2
%
(12.9
%)
(0.4
%)
Diluted Earnings Per Share
(15.5
%)
4.2
%
(25.9
%)
6.2
%
Adjusted EBITDA
3.2
%
3.4
%
N/A
(0.2
%)
Year Ended December 31, 2025
Revenue
Total
Foreign Exchange Rates
Adjustments(3)
Local Currency Adjusted
Flavors & Extracts
(0.9
%)
0.4
%
N/A
(1.3
%)
Color
8.1
%
0.7
%
N/A
7.4
%
Asia Pacific
3.5
%
1.1
%
N/A
2.4
%
Total Revenue
3.5
%
0.6
%
N/A
2.9
%
Operating Income
Flavors & Extracts
3.8
%
0.4
%
0.0
%
3.4
%
Color
18.2
%
1.3
%
0.0
%
16.9
%
Asia Pacific
6.3
%
2.5
%
0.0
%
3.8
%
Corporate & Other
20.2
%
0.0
%
14.8
%
5.4
%
Total Operating Income
8.1
%
1.4
%
(4.4
%)
11.1
%
Diluted Earnings Per Share
7.5
%
1.4
%
(8.6
%)
14.7
%
Adjusted EBITDA
10.9
%
1.1
%
N/A
9.8
%
(3) Adjustments consist of Portfolio Optimization Plan costs.
Sensient Technologies Corporation
(In thousands, except percentages)
(Unaudited)
Reconciliation of Non-GAAP Amounts - Continued
The following table summarizes the reconciliation between Operating Income (GAAP) and Adjusted EBITDA for the three and twelve months ended December 31, 2025 and 2024.
Three Months Ended December 31,
Year Ended December 31,
2025
2024
% Change
2025
2024
% Change
Operating income (GAAP)
$
38,186
$
41,996
(9.1
%)
$
207,128
$
191,579
8.1
%
Depreciation and amortization
15,208
15,144
61,098
60,329
Share-based compensation expense
3,362
3,104
13,946
10,084
Portfolio Optimization Plan costs, before tax
6,280
856
15,806
6,631
Adjusted EBITDA
$
63,036
$
61,100
3.2
%
$
297,978
$
268,623
10.9
%
The following table summarizes the reconciliation between Debt (GAAP) and Net Debt, and Operating Income (GAAP) and Credit Adjusted EBITDA for the year ended December 31, 2025 and 2024.
Year Ended December 31,
Debt
2025
2024
Short-term borrowings
$
352
$
19,848
Long-term debt
709,232
613,523
Credit Agreement adjustments(4)
(22,544
)
(13,129
)
Net Debt
$
687,040
$
620,242
Operating income (GAAP)
$
207,128
$
191,579
Depreciation and amortization
61,098
60,329
Share-based compensation expense
13,946
10,084
Portfolio Optimization Plan costs, before tax
15,806
6,631
Other non-operating gains(5)
(1,048
)
(905
)
Credit Adjusted EBITDA
$
296,930
$
267,718
Net Debt to Credit Adjusted EBITDA
2.3x
2.3x
(4) Adjustments include cash and cash equivalents, as described in the Company's Fourth Amended and Restated Credit Agreement (Credit Agreement), and certain letters of credit and hedge contracts.
(5) Adjustments consist of certain financing transaction costs, certain non-financing interest items, and gains and losses related to certain non-cash, non-operating, and/or non-recurring items as described in the Credit Agreement.
We have included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this release and our SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and we believe the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.
Category: Earnings
Source: Sensient Technologies Corporation
View source version on businesswire.com: https://www.businesswire.com/news/home/20260212676606/en/
David Plautz
(414) 347-3706
investor.relations@sensient.com
Original: Sensient Technologies Corporation Reports Results for the Quarter Ended December 31, 2025
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