--- schema_version: "secwatch.filing_event.v1" accession: "0001140361-24-006470" form_type: "8-K" ticker: "SXT" cik: "0000310142" company_name: "SENSIENT TECHNOLOGIES CORP" filed_at: "2024-02-08T23:59:59+00:00" generated_at: "2026-06-06T05:58:55.775403+00:00" event_type: "earnings" sentiment: "negative" materiality_score: 0.78 calibrated_materiality_score: 0.78 confidence: "high" source: SEC EDGAR --- # Sensient Q4 revenue flat, operating income plunges on $27.8M restructuring; CFO retiring, 2024 EPS guided $2.80-$2.90 ## Summary - Q4 revenue $349.3M (+0.2% reported, -1.8% local currency); reported EPS loss $0.14 vs income $0.69, adjusted local currency EPS down 23.4%. - Reported operating income $8.1M (-80.4%) includes $27.8M Portfolio Optimization Plan costs; adjusted local currency operating income down 9.6%. - Portfolio Optimization Plan targets facility closures in UK, Spain, Canada, Argentina; expects annual savings $8-10M, $40M total charges ($30M non-cash), ~130 headcount reduction. - CFO Stephen Rolfs to retire June 30, 2024; Tobin Tornehl (VP, Controller) to succeed with base salary $400,000. - 2024 guidance: GAAP EPS $2.80-$2.90 (incl ~$0.15 Plan costs); adjusted EPS, revenue, EBITDA to grow low-to-mid single digits local currency. ## SEC filing metadata - accession: 0001140361-24-006470 - form_type: 8-K - ticker: SXT - cik: 0000310142 - company_name: SENSIENT TECHNOLOGIES CORP - filed_at: 2024-02-08T23:59:59+00:00 - event_type: earnings - sentiment: negative - materiality_score: 0.78 - calibrated_materiality_score: 0.78 - confidence: high - sec_items: 2.02, 2.05, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/310142/000114036124006470/0001140361-24-006470-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/310142/000114036124006470/ef20020966_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001140361-24-006470 - JSON: https://secwatch.observer/filing/0001140361-24-006470.json - Plain text: https://secwatch.observer/filing/0001140361-24-006470.txt ## Key facts - Earnings Releases SENSIENT TECHNOLOGIES CORP reported financial results for the fiscal year ended December 31, 2023. - Period: the fiscal year ended December 31, 2023 - Result: reported results source text: Sensient Technologies Corporation (the “Company”) issued a press release on February 8, 2024, disclosing its results of operations for its quarter and year ended December 31, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/310142/000114036124006470/0001140361-24-006470-index.htm - Earnings Releases SENSIENT TECHNOLOGIES CORP reported the quarter ended December 31, 2023 results: revenue $349.3 million, EPS 14 cents. - Period: the quarter ended December 31, 2023 - Revenue: $349.3 million - EPS: 14 cents - Result: reported results source text: as well as a nominee for election to its Board of Directors at its 2024 annual meeting of shareholders. Fourth Quarter Consolidated Results • Reported revenue increased 0.2% to $349.3 million in the fourth quarter of 2023 versus last year’s fourth quarter results of $348.7 million. On a local currency basis (1) , revenue decreased 1.8%. • Reported operating income evidence_url: https://www.sec.gov/Archives/edgar/data/310142/000114036124006470/0001140361-24-006470-index.htm - Executive change Tobin Tornehl was appointed as Vice President and Chief Financial Officer at SENSIENT TECHNOLOGIES CORP. - Action: appointed - Role: Vice President and Chief Financial Officer source text: On February 8, 2024, the Company announced that Tobin Tornehl, the Company’s current Vice President, Controller and Chief Accounting Officer, will succeed Mr. Rolfs as the Company’s Vice President and Chief Financial Officer and principal financial officer upon the effectiveness of Mr. Rolfs’s retirement. evidence_url: https://www.sec.gov/Archives/edgar/data/310142/000114036124006470/0001140361-24-006470-index.htm - Executive change Stephen J. Rolfs retired as Senior Vice President and Chief Financial Officer at SENSIENT TECHNOLOGIES CORP. - Action: retired - Role: Senior Vice President and Chief Financial Officer source text: On February 6, 2024, Stephen J. Rolfs, Senior Vice President and Chief Financial Officer of the Company, provided notice of his intent to retire from his employment with the Company on June 30, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/310142/000114036124006470/0001140361-24-006470-index.htm - Restructurings & Charges SENSIENT TECHNOLOGIES CORP announced a restructuring with charges of approximately $40 million affecting Flavors & Extracts and Color segments (approximately 130 positions). - Type: restructuring - Charge: approximately $40 million - Affected area: Flavors & Extracts and Color segments - Headcount: approximately 130 positions source text: If all contemplated actions were taken, the Company would also expect the Plan to cost approximately $40 million, including approximately $8 million in future cash expenditures in connection with the Plan. The expected total Plan costs are primarily related to non-cash impairment charges (approximately $22 million), employee separation costs (approximately $5 million), and non-cash inventory charges (approximately $3 million). If all contemplated actions were taken, the Company would potentially reduce headcount by approximately 130 positions, which would be primarily in the Flavors & Extracts and Color segments, related to certain production and selling and administrative positions. evidence_url: https://www.sec.gov/Archives/edgar/data/310142/000114036124006470/0001140361-24-006470-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.