$SXT
SENSIENT TECHNOLOGIES CORP

2019 Q3 Form 10-Q Financial Statement

#000114036119014201 Filed on August 05, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q2
Revenue $317.7M $339.2M $363.0M
YoY Change -7.31% -6.57% 7.25%
Cost Of Revenue $215.3M $227.4M $241.6M
YoY Change -5.24% -5.88% 10.17%
Gross Profit $102.4M $111.8M $121.5M
YoY Change -11.42% -7.98% 1.93%
Gross Profit Margin 32.24% 32.96% 33.47%
Selling, General & Admin $63.60M $64.40M $69.29M
YoY Change -2.6% -7.06% 2.8%
% of Gross Profit 62.11% 57.6% 57.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.00M $14.00M $13.40M
YoY Change 6.87% 4.48% 8.94%
% of Gross Profit 13.67% 12.52% 11.03%
Operating Expenses $63.60M $64.40M $69.29M
YoY Change -2.6% -7.06% 2.8%
Operating Profit $38.79M $47.37M $52.18M
YoY Change -22.89% -9.22% 0.74%
Interest Expense $4.936M $5.200M $5.555M
YoY Change -8.71% -6.39% -218.19%
% of Operating Profit 12.73% 10.98% 10.65%
Other Income/Expense, Net
YoY Change
Pretax Income $33.85M $42.17M $46.63M
YoY Change -24.61% -9.56% 17.45%
Income Tax $2.000M $7.837M $7.503M
% Of Pretax Income 5.91% 18.59% 16.09%
Net Earnings $31.87M $34.33M $39.12M
YoY Change -32.48% -12.25% 27.02%
Net Earnings / Revenue 10.03% 10.12% 10.78%
Basic Earnings Per Share $0.81 $0.93
Diluted Earnings Per Share $754.1K $0.81 $0.92
COMMON SHARES
Basic Shares Outstanding 42.32M 42.27M 42.28M
Diluted Shares Outstanding 42.30M 42.37M

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.40M $29.90M $30.90M
YoY Change -6.52% -3.24% 18.85%
Cash & Equivalents $34.42M $29.88M $30.89M
Short-Term Investments
Other Short-Term Assets $43.20M $47.00M $55.80M
YoY Change 2.61% -15.77% 0.54%
Inventory $470.1M $462.1M $461.8M
Prepaid Expenses
Receivables $244.6M $273.1M $277.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $792.4M $812.1M $825.8M
YoY Change -5.09% -1.66% 13.64%
LONG-TERM ASSETS
Property, Plant & Equipment $489.9M $481.2M $488.8M
YoY Change -0.47% -1.56% 1.83%
Goodwill $415.2M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $73.40M $88.26M $78.80M
YoY Change -5.9% 12.01% -5.52%
Total Long-Term Assets $986.2M $1.013B $985.7M
YoY Change -1.97% 2.81% 1.45%
TOTAL ASSETS
Total Short-Term Assets $792.4M $812.1M $825.8M
Total Long-Term Assets $986.2M $1.013B $985.7M
Total Assets $1.779B $1.825B $1.812B
YoY Change -3.38% 0.77% 6.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $103.6M $108.1M $98.90M
YoY Change 6.8% 9.3% 6.34%
Accrued Expenses $65.60M $61.10M $71.90M
YoY Change -11.47% -15.02% -2.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $20.34M $20.00M
YoY Change -100.0% 1.69% -1.96%
Long-Term Debt Due $20.20M $20.30M
YoY Change
Total Short-Term Liabilities $192.2M $194.7M $198.7M
YoY Change -1.03% -2.03% 5.41%
LONG-TERM LIABILITIES
Long-Term Debt $617.0M $656.7M $732.8M
YoY Change -17.29% -10.38% 24.86%
Other Long-Term Liabilities $44.60M $22.31M $31.90M
YoY Change 49.16% -30.06% 14.34%
Total Long-Term Liabilities $661.6M $679.0M $764.7M
YoY Change -14.73% -11.2% 24.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $192.2M $194.7M $198.7M
Total Long-Term Liabilities $661.6M $679.0M $764.7M
Total Liabilities $881.9M $873.7M $995.1M
YoY Change -11.34% -12.2% 22.16%
SHAREHOLDERS EQUITY
Retained Earnings $1.553B
YoY Change
Common Stock $103.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $595.3M
YoY Change
Treasury Stock Shares
Shareholders Equity $896.7M $897.5M $816.4M
YoY Change
Total Liabilities & Shareholders Equity $1.779B $1.825B $1.812B
YoY Change -3.38% 0.77% 6.67%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $31.87M $34.33M $39.12M
YoY Change -32.48% -12.25% 27.02%
Depreciation, Depletion And Amortization $14.00M $14.00M $13.40M
YoY Change 6.87% 4.48% 8.94%
Cash From Operating Activities $51.40M $52.80M -$9.500M
YoY Change 38.54% -655.79% -68.75%
INVESTING ACTIVITIES
Capital Expenditures -$9.500M -$8.300M -$12.90M
YoY Change -5.94% -35.66% 34.38%
Acquisitions
YoY Change
Other Investing Activities $6.700M -$100.0K $46.70M
YoY Change -133.5% -100.21% -23.19%
Cash From Investing Activities -$2.800M -$8.400M $33.70M
YoY Change -90.67% -124.93% -34.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -40.90M -49.80M -19.30M
YoY Change 1473.08% 158.03% -33.45%
NET CHANGE
Cash From Operating Activities 51.40M 52.80M -9.500M
Cash From Investing Activities -2.800M -8.400M 33.70M
Cash From Financing Activities -40.90M -49.80M -19.30M
Net Change In Cash 7.700M -5.400M 4.900M
YoY Change 71.11% -210.2% -159.76%
FREE CASH FLOW
Cash From Operating Activities $51.40M $52.80M -$9.500M
Capital Expenditures -$9.500M -$8.300M -$12.90M
Free Cash Flow $60.90M $61.10M $3.400M
YoY Change 29.03% 1697.06% -116.35%

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SENSIENT TECHNOLOGIES CORP
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
WI
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
39-0561070
dei Entity Address Address Line1
EntityAddressAddressLine1
777 EAST WISCONSIN AVENUE
dei Entity Address City Or Town
EntityAddressCityOrTown
MILWAUKEE
dei Security12b Title
Security12bTitle
Common Stock, par value $0.10 per share
CY2019Q2 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
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InterestExpense
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91142000
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0
us-gaap Payments To Acquire Businesses Gross
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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1544000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
us-gaap Payments For Repurchase Of Common Stock
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28244000
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-1028000
us-gaap Proceeds From Payments For Other Financing Activities
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-2779000
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-28879000
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397000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Common Stock Dividends Per Share Cash Paid
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StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Treasury Stock Value Acquired Cost Method
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72704000
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StockIssuedDuringPeriodValueShareBasedCompensation
529000
us-gaap Net Income Loss
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0.201
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
816429000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
827456000
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NetIncomeLoss
39123000
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-36646000
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CommonStockDividendsPerShareCashPaid
0.33
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13970000
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-123000
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816429000
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CommonStockDividendsPerShareCashPaid
0.36
CY2019Q2 us-gaap Dividends Common Stock Cash
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15235000
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-1842000
CY2019Q2 sxt Nonvested Stock Issued Upon Vesting
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0
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-224000
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StockholdersEquity
897482000
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StockholdersEquity
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us-gaap Dividends Common Stock Cash
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28244000
us-gaap Stock Issued During Period Value Share Based Compensation
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1783000
sxt Nonvested Stock Issued Upon Vesting
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0
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1119000
us-gaap Stockholders Equity Other
StockholdersEquityOther
-2481000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
47368000
CY2019Q2 us-gaap Interest Expense
InterestExpense
5200000
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
42168000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
363041000
CY2018Q2 us-gaap Operating Income Loss
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52181000
CY2018Q2 us-gaap Interest Expense
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5555000
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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86186000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Operating Income Loss
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us-gaap Interest Expense
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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96752000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
719518000
CY2019Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2019Q2 us-gaap Lease Cost
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2800000
us-gaap Lease Cost
LeaseCost
5800000
us-gaap Operating Lease Payments
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5000000.0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5000000.0
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OperatingLeaseRightOfUseAsset
21200000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8100000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
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13100000
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
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0.044
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FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
4655000
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7789000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4303000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2224000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
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1911000
CY2019Q2 us-gaap Operating Lease Liability
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21181000
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.186
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EffectiveIncomeTaxRateContinuingOperations
0.161
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.221
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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2357000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
345000
CY2019Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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2924000
CY2019Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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-50000
CY2018Q2 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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CY2018Q2 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-42000
CY2019Q2 sxt Proceeds Received By The Company For The Sale Of Trade Receivables From A Third Party
ProceedsReceivedByTheCompanyForTheSaleOfTradeReceivablesFromAThirdParty
70000000
CY2019Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
70000000
CY2019Q2 us-gaap Line Of Credit
LineOfCredit
70000000

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