(RTTNews) - Sensient Technologies Corp. (SXT) reported a decline in Q2 profit, reflecting lower revenues. Further, the company revised its GAAP earnings forecast and reconfirmed adjusted earnings outlook for fiscal 2020.
The company's Q2 net income was $30.6 million or $0.72 per share versus $34.3 million or $0.81 per share a year ago.
Revenue was $323.1 million in this year's second quarter compared to $339.2 million in the comparable period last year.
Looking ahead, the company now expects fiscal 2020 earnings in the range of $2.10 - $2.35, compared to the previously communicated range of $1.85 - $2.15 per share. Meanwhile, the company reconfirms its previously issued guidance of $2.60 - $2.80 for adjusted earnings per share.
Analysts polled by Thomson Reuters expect earnings of $2.48 per share for fiscal 2020. Analysts' estimate typically exclude certain special items.