Sensient Technologies Expects FY23 GAAP EPS To Be Down Low Double Digits YoY; Sees Revenue Growth At A Low Single-Digit Rate
Portfolio Pulse from Benzinga Newsdesk
Sensient Technologies has revised its 2023 outlook, now expecting full year GAAP diluted earnings per share to be down low double digits YoY, compared to the previous guidance of high single digits. The company also anticipates 2023 revenue to grow at a low single-digit rate, down from the previous guidance of mid-single-digit growth. The changes are attributed to higher interest rates, a higher tax rate, and foreign exchange rates.
October 20, 2023 | 11:03 am
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Sensient Technologies has revised its 2023 outlook downwards, which could negatively impact its stock price in the short term. The company expects lower earnings and slower revenue growth due to higher interest rates, a higher tax rate, and foreign exchange rates.
The company's revised outlook indicates lower earnings and slower revenue growth than previously expected. This could lead to a negative sentiment among investors, potentially causing a decrease in the stock price. The factors contributing to this outlook include higher interest rates, a higher tax rate, and foreign exchange rates.
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