After six quarters of consistent declining revenues, Sensient Technologies (SXT) posted a solid first quarter, with management keeping guidance unchanged. A surprising announcement, given the uncertain economic environment, preceded by a year-and-half of operating weakness.
Sensient operates within the specialty chemicals industry by developing, manufacturing, and supplying flavors and colors to industries in the food, beverage, personal care, and household products. The company reports operations in three segments: Flavor and Fragrances, Color Group, and the Asia-Pacific Group.
Although Sensient is a commodity business, its specialized nature allows the company to have a less cyclical cycle