UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

April 25, 2025
(Date of Report/Date of earliest event reported)

SENSIENT TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in its charter)

Wisconsin
001-07626
39-0561070
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

777 East Wisconsin Avenue
Milwaukee, Wisconsin 53202-5304
(Address and zip code of principal executive offices)

(414) 271-6755
(Registrant’s telephone number, including area code)

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common stock, par value $0.10 per share
 SXT
 New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02
Results of Operations and Financial Condition.

Sensient Technologies Corporation (the “Company”) issued a press release on April 25, 2025, disclosing its results of operations for its quarter ended March 31, 2025, and its financial condition at that date. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 2.02 (including Exhibit 99.1) is intended to be furnished under Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act.

Item 7.01
Regulation FD Disclosure.

On April 25, 2025, the Company also posted an updated investor presentation for its quarter ended March 31, 2025, on the “Investor Information” section of its website.  A copy of the investor presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

The information contained in this Item 7.01 (including Exhibit 99.2) is intended to be furnished under Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act.

Item 9.01
Financial Statements and Exhibits.

(d)
Exhibits. The following exhibits are furnished with this Current Report on Form 8-K:

EXHIBIT INDEX

Exhibit Number
  
Description
 
Sensient Technologies Corporation Earnings Press Release for the Quarter Ended March 31, 2025.
104
  
Sensient Technologies Corporation Investor Presentation – Q1 2025.
Cover Page Interactive Data File (embedded within the Inline XBRL document).
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
SENSIENT TECHNOLOGIES CORPORATION
  
     
 
By:
/s/ John J. Manning
  
       
 
Name:
John J. Manning
  
       
 
Title:
Senior Vice President, General Counsel, and Secretary
  
       
 
Date:
April 25, 2025
  


Exhibit 99.1

Contact:
Amy Agallar
(414) 347-3706

Sensient Technologies Corporation
Reports Results for the Quarter Ended March 31, 2025

MILWAUKEE— April 25, 2025 — Sensient Technologies Corporation (NYSE: SXT), a leading provider of flavors and colors for the food, pharmaceutical, and personal care markets, today reported financial results for the first quarter ended March 31, 2025.

First Quarter Consolidated Results


 •
Reported revenue increased 2.0% to $392.3 million in the first quarter of 2025 versus last year’s first quarter results of $384.7 million. On a local currency basis(1), revenue increased 4.1%.


•
Reported operating income increased 8.3% to $53.5 million compared to $49.4 million recorded in the first quarter of 2024. In the first quarter of 2025, the Company recorded $2.9 million of costs related to its Portfolio Optimization Plan versus last year’s $2.8 million in the first quarter. Local currency adjusted operating income(1) and local currency adjusted EBITDA(1) increased 10.3% and 10.1%, respectively, in the first quarter.


•
Reported earnings per share increased 11.0% to 81 cents in the first quarter of 2025 compared to 73 cents in the first quarter of 2024. Local currency adjusted diluted EPS(1) increased 11.4% in the first quarter.

“As expected, Sensient got off to a strong start in the first quarter of 2025, building on the momentum from the previous year. Our results are driven by solid volume growth and sales wins, particularly in natural colors. The quarter’s achievements underscore our ability to adapt in dynamic market conditions, and I am pleased to reaffirm our 2025 guidance,” said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer.

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 2
First Quarter Group Results  
   
             
Revenue
  
Reported
Quarter
    
Local Currency(1)
Quarter
  
Flavors & Extracts
    
0.3
%
    
1.7
%
Color
    
4.8
%
    
8.2
%
Asia Pacific
    
4.0
%
    
4.8
%
Total Revenue
    
2.0
%
    
4.1
%
                 
Operating Income
  
Reported
Quarter
    
Local Currency Adjusted(1)
Quarter
  
Flavors & Extracts
    
5.5
%
    
6.2
%
Color
    
10.0
%
    
13.5
%
Asia Pacific
    
7.6
%
    
7.0
%
Total Operating Income
    
8.3
%
    
10.3
%
 
                

The Flavors & Extracts Group reported first quarter 2025 revenue of $193.7 million, an increase of $0.6 million versus the prior year’s first quarter. The Group’s revenue benefited from higher volumes in our flavors, extracts, and flavor ingredients product lines, offset by lower volumes in natural ingredients. Segment operating income was $25.0 million in the first quarter of 2025, an increase of $1.3 million compared to the prior year’s first quarter.

The Color Group reported revenue of $167.8 million in the first quarter of 2025, an increase of $7.7 million compared to the prior year’s first quarter. The Group’s revenue increase was broad-based across all product lines. Segment operating income was $34.9 million in the first quarter of 2025, an increase of $3.2 million compared to the prior year’s first quarter results.

The Asia Pacific Group reported revenue of $41.9 million in the first quarter of 2025, an increase of $1.6 million compared to the prior year’s first quarter. The Group’s revenue increased across nearly all geographies. Segment operating income was $9.4 million in the quarter, an increase of $0.7 million compared to the prior year’s first quarter.

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 3
Corporate & Other reported operating expenses of $15.8 million in the first quarter of 2025, compared to $14.7 million of operating expenses reported in the prior year’s first quarter. Local currency adjusted operating expenses(1) for Corporate & Other increased $1.0 million compared to the prior year’s first quarter, primarily due to higher performance-based compensation costs recorded in 2025.

2025 OUTLOOK
     
     
Metric
  
Current Guidance
     
Local Currency Revenue(1)
  
Mid-Single-Digit Growth
     
Local Currency Adjusted EBITDA(1)
  
Mid-Single-Digit to High Single-Digit Growth
     
Diluted EPS (GAAP)
  
Between $3.13 and $3.23*
     
Local Currency Adjusted Diluted EPS(1)
  
High Single-Digit to Double-Digit Growth
     
*Includes approximately 15 cents of Portfolio Optimization Plan costs. Based on current exchange rates, foreign currency impact is expected to be approximately a 2 cent headwind for the year.  Previous range was between $3.05 and $3.15.

The Company’s guidance is based on current conditions and economic and market trends in the markets in which the Company operates and is subject to various risks and uncertainties as described below. 

  (1)
Please refer to “Reconciliation of Non-GAAP Amounts” at the end of this release for more information regarding our non-GAAP financial measures.

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 4
USE OF NON-GAAP FINANCIAL MEASURES

The Company’s non-GAAP financial measures eliminate the impact of certain items, which, depending on the measure, include: currency movements, depreciation and amortization, Portfolio Optimization Plan costs, and non-cash share-based compensation. These measures are provided to enhance the overall understanding of the Company’s performance when viewed together with the GAAP results. Refer to “Reconciliation of Non-GAAP Amounts” at the end of this release.

CONFERENCE CALL

The Company will host a conference call to discuss its 2025 first quarter financial results at 8:30 a.m. CDT on Friday, April 25, 2025. To participate in the conference call, contact Chorus Call Inc. at (844) 492-3726 or (412) 317-1078, and ask to join the Sensient Technologies Corporation conference call. Alternatively, the call can be accessed by using the webcast link that is available on the Investor Information section of the Company’s web site at www.sensient.com.

A replay of the call will be available one hour after the end of the conference call through May 2, 2025, by calling (877) 344-7529 and using access code 4206177. An audio replay and written transcript of the call will also be posted on the Investor Information section of the Company’s web site at www.sensient.com on or after April 29, 2025.

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 5
This release contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws including under “2025 Outlook” above. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the Company’s ability to manage general business, economic, and capital market conditions, including actions taken by customers in response to such market conditions, and the impact of recessions and economic downturns; the impact of macroeconomic and geopolitical volatility, including inflation and shortages impacting the availability and cost of raw materials, energy, and other supplies, disruptions and delays in the Company’s supply chain, and the conflicts between Russia and Ukraine and in the Middle East; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; the availability and cost of labor, logistics, and transportation; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences, changing technologies, and changing regulations; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and Portfolio Optimization Plan; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; the Company’s ability to enhance its innovation efforts and drive cost efficiencies; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition, and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.

ABOUT SENSIENT TECHNOLOGIES

Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients.  Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands.  Sensient is headquartered in Milwaukee, Wisconsin.
www.sensient.com

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 6
Consolidated Statements of Earnings
  
Three Months Ended March 31,
  
                   
   
2025
    
2024
    
% Change
  
                   
Revenue
  
$
392,325
    
$
384,670
      
2.0
%
                         
Cost of products sold
    
260,548
      
258,121
      
0.9
%
Selling and administrative expenses
    
78,247
      
77,143
      
1.4
%
                         
Operating income
    
53,530
      
49,406
      
8.3
%
Interest expense
    
7,341
      
7,045
          
                         
Earnings before income taxes
    
46,189
      
42,361
          
Income taxes
    
11,727
      
11,421
          
                         
Net earnings
  
$
34,462
    
$
30,940
      
11.4
%
                         
Earnings per share of common stock:
                        
Basic
  
$
0.82
    
$
0.73
          
 
                        
Diluted
  
$
0.81
    
$
0.73
          
                         
Average common shares outstanding:
                        
Basic
    
42,197
      
42,104
          
 
                        
Diluted
    
42,469
      
42,305
          

Results by Segment
  
Three Months Ended March 31,
  
                   
Revenue
  
2025
    
2024
    
% Change
  
                   
Flavors & Extracts
  
$
193,681
    
$
193,092
      
0.3
%
Color
    
167,750
      
160,025
      
4.8
%
Asia Pacific
    
41,901
      
40,306
      
4.0
%
Intersegment elimination
    
(11,007
)
    
(8,753
)
        
                         
Consolidated
  
$
392,325
    
$
384,670
      
2.0
%
                         
Operating Income
                        
                         
Flavors & Extracts
  
$
24,989
    
$
23,678
      
5.5
%
Color
    
34,852
      
31,679
      
10.0
%
Asia Pacific
    
9,442
      
8,776
      
7.6
%
Corporate & Other
    
(15,753
)
    
(14,727
)
        
                         
Consolidated
  
$
53,530
    
$
49,406
      
8.3
%

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 7
Consolidated Condensed Balance Sheets
  
March 31,
    
December 31,
  
   
2025
    
2024
  
             
Cash and cash equivalents
  
$
32,574
    
$
26,626
  
Trade accounts receivable
    
315,024
      
290,087
  
Inventories
    
598,204
      
600,302
  
Prepaid expenses and other current assets
    
54,407
      
44,871
  
Total Current Assets
    
1,000,209
      
961,886
  
                 
Goodwill & intangible assets (net)
    
435,681
      
423,658
  
Property, plant, and equipment (net)
    
499,184
      
491,587
  
Other assets
    
157,594
      
146,663
  
                 
Total Assets
  
$
2,092,668
    
$
2,023,794
  
                 
Trade accounts payable
  
$
110,611
    
$
139,052
  
Short-term borrowings
    
18,575
      
19,848
  
Other current liabilities
    
101,509
      
111,739
  
Total Current Liabilities
    
230,695
      
270,639
  
                 
Long-term debt
    
683,266
      
613,523
  
Accrued employee and retiree benefits
    
25,175
      
24,499
  
Other liabilities
    
58,498
      
54,147
  
Shareholders’ Equity
    
1,095,034
      
1,060,986
  
                 
Total Liabilities and Shareholders’ Equity
  
$
2,092,668
    
$
2,023,794
  

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 8
Consolidated Statements of Cash Flows
Three Months Ended March 31,

   
2025
    
2024
  
Cash flows from operating activities:
            
Net earnings
  
$
34,462
    
$
30,940
  
Adjustments to arrive at net cash provided by operating activities:
                
Depreciation and amortization
    
15,074
      
14,709
  
Share-based compensation expense
    
2,900
      
1,995
  
Net loss (gain) on assets
    
46
      
(193
)
Portfolio Optimization Plan costs
    
831
      
1,189
  
Deferred income taxes
    
1,282
      
(4
)
Changes in operating assets and liabilities:
                
Trade accounts receivable
    
(20,780
)
    
(28,331
)
Inventories
    
7,202
      
26,624
  
Prepaid expenses and other assets
    
(8,064
)
    
(13,655
)
Trade accounts payable and other accrued expenses
    
(25,859
)
    
(21,993
)
Accrued salaries, wages, and withholdings
    
(21,665
)
    
29
  
Income taxes
    
4,989
      
3,150
  
Other liabilities
    
604
      
674
  
                 
Net cash (used in) provided by operating activities
    
(8,978
)
    
15,134
  
                 
Cash flows from investing activities:
                
Acquisition of property, plant, and equipment
    
(16,854
)
    
(11,030
)
Proceeds from sale of assets
    
7
      
93
  
Acquisition of new business
    
(4,349
)
    
-
  
Other investing activities
    
(88
)
    
(1
)
                 
Net cash used in investing activities
    
(21,284
)
    
(10,938
)
                 
Cash flows from financing activities:
                
Proceeds from additional borrowings
    
66,449
      
38,053
  
Debt payments
    
(10,771
)
    
(27,031
)
Dividends paid
    
(17,376
)
    
(17,312
)
Other financing activities
    
(2,341
)
    
(2,828
)
                 
Net cash provided by (used in) financing activities
    
35,961
      
(9,118
)
                 
Effect of exchange rate changes on cash and cash equivalents
    
249
      
1,405
  
                 
Net increase (decrease) in cash and cash equivalents
    
5,948
      
(3,517
)
Cash and cash equivalents at beginning of period
    
26,626
      
28,934
  
Cash and cash equivalents at end of period
  
$
32,574
    
$
25,417
  

Supplemental Information
            
Three Months Ended March 31,
  
2025
    
2024
  
             
Dividends paid per share
  
$
0.41
    
$
0.41
  

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 9
Reconciliation of Non-GAAP Amounts 
The Company’s results for the three months ended March 31, 2025 and 2024 include adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which, in each case, exclude Portfolio Optimization Plan costs.

   
Three Months Ended March 31,
 
   
2025
    
2024
    
% Change
  
Operating income (GAAP)
  
$
53,530
    
$
49,406
      
8.3
%
Portfolio Optimization Plan costs  – Cost of products sold
    
1,814
      
107
          
Portfolio Optimization Plan costs – Selling and administrative expenses
    
1,050
      
2,705
          
Adjusted operating income
  
$
56,394
    
$
52,218
      
8.0
%
                         
Net earnings (GAAP)
  
$
34,462
    
$
30,940
      
11.4
%
Portfolio Optimization Plan costs, before tax
    
2,864
      
2,812
          
Tax impact of Portfolio Optimization Plan costs(1)
    
(702
)
    
(355
)
        
Adjusted net earnings
  
$
36,624
    
$
33,397
      
9.7
%
                         
Diluted earnings per share (GAAP)
  
$
0.81
    
$
0.73
      
11.0
%
Portfolio Optimization Plan costs, net of tax
    
0.05
      
0.06
          
Adjusted diluted earnings per share
  
$
0.86
    
$
0.79
      
8.9
%

Note: Earnings per share calculations may not foot due to rounding differences.

(1)
Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates. 

Results by Segment
  
Three Months Ended March 31,
  
               
Adjusted
                
Adjusted
  
Operating Income
  
2025
    
Adjustments(2)
    
2025
    
2024
    
Adjustments(2)
    
2024
  
                                     
Flavors & Extracts
  
$
24,989
    
$
-
    
$
24,989
    
$
23,678
    
$
-
    
$
23,678
  
Color
    
34,852
      
-
      
34,852
      
31,679
      
-
      
31,679
  
Asia Pacific
    
9,442
      
-
      
9,442
      
8,776
      
-
      
8,776
  
Corporate & Other
    
(15,753
)
    
2,864
      
(12,889
)
    
(14,727
)
    
2,812
      
(11,915
)
                                                 
Consolidated
  
$
53,530
    
$
2,864
    
$
56,394
    
$
49,406
    
$
2,812
    
$
52,218
  

(2)
Adjustments consist of Portfolio Optimization Plan costs.

The following table summarizes the percentage change in the 2025 results compared to the 2024 results for the corresponding periods.

   
Three Months Ended March 31, 2025
  
Revenue
  
Total
    
Foreign
Exchange
Rates
    
Adjustments(3)
    
Local Currency Adjusted
  
Flavors & Extracts
    
0.3
%
    
(1.4
%)
    
N/A
      
1.7
%
Color
    
4.8
%
    
(3.4
%)
    
N/A
      
8.2
%
Asia Pacific
    
4.0
%
    
(0.8
%)
    
N/A
      
4.8
%
Total Revenue
    
2.0
%
    
(2.1
%)
    
N/A
      
4.1
%
                                 
Operating Income
                                
Flavors & Extracts
    
5.5
%
    
(0.7
%)
    
0.0
%
    
6.2
%
Color
    
10.0
%
    
(3.5
%)
    
0.0
%
    
13.5
%
Asia Pacific
    
7.6
%
    
0.6
%
    
0.0
%
    
7.0
%
Corporate & Other
    
7.0
%
    
0.0
%
    
(1.2
%)
    
8.2
%
Total Operating Income
    
8.3
%
    
(2.5
%)
    
0.5
%
    
10.3
%
Diluted Earnings Per Share
    
11.0
%
    
(2.7
%)
    
2.3
%
    
11.4
%
Adjusted EBITDA
    
7.9
%
    
(2.2
%)
    
N/A
      
10.1
%

(3)
Adjustments consist of Portfolio Optimization Plan costs.

- MORE -
Sensient Technologies Corporation
Earnings Release – Quarter Ended March 31, 2025
April 25, 2025
 Page 10
Reconciliation of Non-GAAP Amounts - Continued  

The following table summarizes the reconciliation between Operating Income (GAAP) and Adjusted EBITDA for the three months ended March 31, 2025 and 2024.
   
Three Months Ended March 31,
  
                   
   
2025
    
2024
    
% Change
  
Operating income (GAAP)
  
$
53,530
    
$
49,406
      
8.3
%
Depreciation and amortization
    
15,074
      
14,709
          
Share-based compensation expense
    
2,900
      
1,995
          
Portfolio Optimization Plan costs, before tax
    
2,864
      
2,812
          
Adjusted EBITDA
  
$
74,368
    
$
68,922
      
7.9
%

The following table summarizes the reconciliation between Debt (GAAP) and Net Debt, and Operating Income (GAAP) and Credit Adjusted EBITDA for the trailing twelve months ended March 31, 2025 and 2024.

   
March 31,
  
Debt
  
2025
  
2024
  
Short-term borrowings
  
$
18,575
  
$
19,439
  
Long-term debt
    
683,266
    
643,511
  
Credit Agreement adjustments(4)
    
(21,165
 )
  
(13,775
)
Net Debt
  
$
680,676
  
$
649,175
  
               
Operating income (GAAP)
  
$
195,703
  
$
153,591
  
Depreciation and amortization
    
60,694
    
58,379
  
Share-based compensation expense
    
10,989
    
8,661
  
Portfolio Optimization Plan costs, before tax
    
6,683
    
30,653
  
Other non-operating gains(5)
    
(871
 )
  
(1,055
)
Credit Adjusted EBITDA
  
$
273,198
  
$
250,229
  
               
Net Debt to Credit Adjusted EBITDA
    
2.5
 x
  
2.6
x

(4) Adjustments include cash and cash equivalents, as described in the Company’s Third Amended and Restated Credit Agreement (Credit Agreement), and certain letters of credit and hedge contracts.
(5) Adjustments consist of certain financing transaction costs, certain non-financing interest items, and gains and losses related to certain non-cash, non-operating, and/or non-recurring items as described in the Credit Agreement.
 
We have included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this release and our SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and we believe the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.
Exhibit 99.2

 Sensient Technologies Corporation  First Quarter 2025 Earnings Call  April 25, 2025 
 
 Non-GAAP Financial Measures  2  Within this document, the Company reports certain non-GAAP financial measures, including: (1) adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which exclude restructuring and other costs, including the Portfolio Optimization Plan costs, (2) percentage changes in revenue, operating income, and diluted earnings per share on an adjusted local currency basis, which eliminate the effects that result from translating its international operations into U.S. dollars and restructuring and other costs, including the Portfolio Optimization Plan costs, and (3) adjusted EBITDA and adjusted EBITDA Margin (which exclude Portfolio Optimization Plan costs and non-cash share based compensation expense). The Company has included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable year-over-year performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this report. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and the Company believes the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies. 
 
 Forward Looking Statements  2  This document contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws including under “2025 Financial Outlook”, “Long-Term Outlook”, and “Consolidated Full Year 2025 Outlook” in this presentation. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the Company’s ability to manage general business, economic, and capital market conditions, including actions taken by customers in response to such market conditions, and the impact of recessions and economic downturns; the impact of macroeconomic and geopolitical volatility, including inflation and shortages impacting the availability and cost of raw materials, energy, and other supplies, disruptions and delays in the Company’s supply chain, and the conflicts between Russia and Ukraine and in the Middle East; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; the availability and cost of labor, logistics, and transportation; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences, changing technologies, and changing regulations; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and Portfolio Optimization Plan; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; the Company’s ability to enhance its innovation efforts and drive cost efficiencies; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition, and results of operations. This presentation contains time-sensitive information that reflects management’s best analysis only as of the date of this presentation. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized. 
 
 
 Q1 2025 Consolidated Results  5  (1) See appendix for our GAAP to Non-GAAP reconciliations. 
 
 Revenue  Strong growth across all product lines in the quarter driven by new sales wins in natural colors  Operating Results  Strong operating leverage in the quarter due to volume growth  Adjusted EBITDA Margin1 for the Group was 24.4% in Q1 2025, up 120 bps from Q1 2024  Color Group Performance  Local Currency1 Results Commentary  6  (1) See appendix for our GAAP to Non-GAAP reconciliations. 
 
 Revenue  Strong growth within Flavors, Extracts, and Flavor Ingredients  Operating Results  Operating leverage improved in the quarter due to growth within the Flavors, Extracts, and Flavor Ingredients business  Adjusted EBITDA Margin1 for the Group was 16.9% in Q1 2025, up 70 bps from Q1 2024  Flavors & Extracts Group Performance  Local Currency1 Results Commentary  7  (1) See appendix for our GAAP to Non-GAAP reconciliations. 
 
 Revenue  Growth driven by new sales wins across the region  Operating Results  Growth driven by higher sales across the Group  Adjusted EBITDA Margin1 for the Group was 23.9% in Q1 2025, up 50 bps from Q1 2024  Asia Pacific Group Performance  Local Currency1 Results Commentary  8  (1) See appendix for our GAAP to Non-GAAP reconciliations. 
 
 Local Currency Revenue2  Growth rate of mid-single-digit  Local Currency Adjusted EBITDA2  Growth rate of high single-digit  9  (1) Represents outlook as of our earnings release provided on April 25, 2025, and does not constitute an update or reissuance as of any later date.  (2) See appendix for our GAAP to Non-GAAP reconciliations.  Business Outlook1  Long-Term Outlook  Local Currency Revenue2  Growth rate of mid-single-digit  Local Currency Adjusted EBITDA2  Growth rate of mid-to high single-digit  Local Currency Adjusted EPS2  Growth rate of high single-digit to double-digits  Consolidated Full Year 2025 Outlook 
 
 Shifting regulatory environment provides opportunity  Current Synthetic Color Regulatory Actions – U.S. Food and Beverage*  Synthetic to Natural Color Conversion  In the U.S., and selectively throughout Latin America, our synthetic colors revenue for the food and pharmaceutical market is approximately $110M  Conversion from synthetic to natural can result in a conversion factor of nearly 10-to-1  Natural colors continue to grow above overall company mid-term outlook  West Virginia- August 2025  First School Lunch Ban  U.S. Federal Ban- January 2027  Red 3 Ban  West Virginia - January 2028  First State-wide Synthetic Color Ban  11  *As of April 21, 2025 
 
 Preparing our customers and investing for the future  11  Technical Support  Product Development Considerations  Capacity Expansions  Natural Color Availability  Transition Timing  We can provide the support brands, manufacturers, and developers need for transition to natural colors. We have the expertise and the color portfolio to enable a smooth conversion process.  Natural colors are not a 1-for-1 solution to replace synthetic colors.  The natural rainbow is bright and wide, but there can be a number of technical challenges to consider.  We continue to expand our capabilities and capacity to meet rising demand.  Manufacturers may need to install or expand refrigeration, storage, and processing in their facilities.  Botanical development, supply chain expansion, seed production, growth, harvesting, processing, and color production take time to expand.  The timeline to begin the transition process is NOW or brands risk not having enough time to do it well.  Replacing 100% of synthetic demand could take 3-6+ years 
 
 2025 Natural Color Launch Highlights  Groundbreaking Blue 1 replacement for beverages  Ideal for:  Sports drinks  Carbonated soft drinks  Energy drinks  Flavored waters  Protein drinks  Juices  Coffee creamers  Acidic salad dressings  Low ABV beverages  Advanced color technology  Stabilized spirulina solution  Light-stable, clean label match for FD&C Blue 1 in beverages  Kosher and Halal certified  Clean label brown solving caramel and cocoa challenges  Ideal for:  Plant-based protein  Sweet and savory bakery  Fried chips  Snacks  Icings and frostings  Confections  Dairy  Processed foods  12  Advanced color technology  Caramel Class III & IV match  California Prop 65 compliant  Kosher and Halal certified 
 
 
 Q1 2025 Financial Review  14  (1) See appendix for our GAAP to Non-GAAP reconciliations.  (dollars in thousands)  Q1 2024  Q1 2025  Local  Currency Growth1  Revenue  $ 384,670  $ 392,325  +4.1%  Operating Income (GAAP)  $ 49,406  $ 53,530  Operating Margin  12.8%  13.6%  Adjusted Operating Income1  $ 52,218  $ 56,394  +10.3%  Adjusted Operating Margin1  13.6%  14.4%  Diluted EPS (GAAP)  $ 0.73  $ 0.81  Adjusted Diluted EPS1  $ 0.79  $ 0.86  +11.4%  Adjusted EBITDA1  $ 68,922  $ 74,368  +10.1%  Adjusted EBITDA Margin1  17.9%  19.0%  Consolidated Commentary:  Local currency revenue1 increased 4.1%  Q1 2025 results included $2.9 million of Portfolio Optimization Plan costs  Adjusted EBITDA Margin1 improved 110 bps in the quarter due to strong volume growth 
 
 2025 Cash Flow and Debt Metrics  14  (1) See appendix for our GAAP to Non-GAAP reconciliations.  Q1 2024  YTD  Q1 2025  YTD  Cash Flow from Operations  $ 15.1 million  ($ 9.0 million)  Capital Expenditures  $ 11.0 million  $ 16.9 million  Total Debt  $ 663.0 million  $ 701.8 million  Net debt to credit adjusted EBITDA1  2.6x  2.5x  Commentary:  Net cash used in operating activities was $9 million in the first quarter of 2025, primarily due to higher incentive-based compensation payments.  Net debt to credit adjusted EBITDA1 was 2.5x in Q1 2025, down from 2.6x in Q1 2024 
 
 2025 Financial Outlook1  16  Metric  Current Guidance  Prior Guidance  Local Currency Revenue2  Mid-single-digit growth  Mid-single-digit growth  Local Currency Adjusted EBITDA2  Mid-to high single-digit growth  Mid-to high single-digit growth  Diluted EPS (GAAP)3  $3.13 to $3.23  $3.05 to $3.15  Local Currency Adjusted Diluted EPS2  High single-digit to double-digit growth  High single-digit to double-digit growth  Capital Expenditures  $80 to $90 million  $70 to $80 million  Adjusted Effective Tax Rate  ~ 25.5%  ~ 25.5%  Interest Expense4  Slight Increase over prior year  Slight Increase over prior year  Represents outlook as of our earnings release provided on April 25, 2025, and does not constitute an update or reissuance as of any later date.  See appendix for our GAAP to Non-GAAP reconciliations.  Diluted EPS (GAAP) includes approximately $0.02/share of foreign currency headwinds based on current exchange rates and $0.15/share of Portfolio Optimization Plan costs. Total plan costs are expected to be approximately $40M.  Interest expense assumes no additional USD borrowing rate reductions for 2025. 
 
 
 Appendix1  (1) Amounts in thousands, except percentages and per share amounts. 
 
 Non-GAAP Financial Measures   Three Months Ended March 31,   20   2025    2024    % Change   Operating income (GAAP)  $ 53,530  $ 49,406  8.3%  Portfolio Optimization Plan costs – Cost of products sold  Portfolio Optimization Plan costs – Selling and administrative expenses  1,814   1,050   107   2,705   Adjusted operating income   $ 56,394    $ 52,218   8.0%  Net earnings (GAAP)  $ 34,462  $ 30,940  11.4%  Portfolio Optimization Plan costs, before tax  2,864  2,812  Tax impact of Portfolio Optimization Plan costs(1)   (702)   (355)  Adjusted net earnings   $ 36,624    $ 33,397   9.7%  Diluted earnings per share (GAAP)  $ 0.81  $ 0.73  11.0%  Portfolio Optimization Plan costs, net of tax   0.05    0.06   Adjusted diluted earnings per share   $ 0.86    $ 0.79   8.9%  Note: Earnings per share calculations may not foot due to rounding differences.  (1) Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates. 
 
 Non-GAAP Financial Measures  Revenue   Total   Foreign  Exchange   Rates   Adjustments(1)  Local  Currency   Adjusted   Flavors & Extracts  0.3%  (1.4%)  N/A  1.7%  Color  4.8%  (3.4%)  N/A  8.2%  Asia Pacific  4.0%  (0.8%)  N/A  4.8%  Total Revenue  2.0%  (2.1%)  N/A  4.1%  Operating Income  Flavors & Extracts  5.5%  (0.7%)  0.0%  6.2%  Color  10.0%  (3.5%)  0.0%  13.5%  Asia Pacific  7.6%  0.6%  0.0%  7.0%  Corporate & Other  7.0%  0.0%  (1.2%)  8.2%  Total Operating Income  8.3%  (2.5%)  0.5%  10.3%  Diluted Earnings Per Share  11.0%  (2.7%)  2.3%  11.4%  Adjusted EBITDA  7.9%  (2.2%)  N/A  10.1%  20  Three Months Ended March 31,  (1) Adjustments consist of Portfolio Optimization Plan costs. 
 
 Non-GAAP Financial Measures  20  Three Months Ended March 31, 2025  Revenue   Total   Foreign Exchange   Rates    Local Currency   Flavors, Extracts, and Flavor Ingredients  4.3%  (2.2%)  6.5%  Natural Ingredients  (7.0%)  0.0%  (7.0%)  Flavors & Extracts Group  0.3%  (1.4%)  1.7%  Food and Pharmaceutical  6.4%  (3.4%)  9.8%  Personal Care  0.4%  (3.3%)  3.7%  Color Group  4.8%  (3.4%)  8.2%  Asia Pacific  4.0%  (0.8%)  4.8%  Total revenue  2.0%  (2.1%)  4.1% 
 
 Non-GAAP Financial Measures  Results by Segment  Operating Income   2025 Adjustments(1)  Adjusted Adjusted   2025 2024 Adjustments(1) 2024   Flavors & Extracts  $ 24,989  $ -  $ 24,989  $ 23,678  $ -  $ 23,678  Color  34,852  -  34,852  31,679  -  31,679  Asia Pacific  9,442  -  9,442  8,776  -  8,776  Corporate & Other   (15,753)   2,864    (12,889)   (14,727)   2,812    (11,915)  Consolidated   $ 53,530    $ 2,864   $  56,394  $  49,406  $  2,812  $  52,218   Three Months Ended March 31,   (1) Adjustments consist of Portfolio Optimization Plan costs.  20 
 
 Non-GAAP Financial Measures  Flavors & Extracts Group   2025    2024   Operating Income (GAAP)  $ 24,989  $ 23,678  Depreciation and amortization  7,640  7,620  Share-based compensation expense   52    -   Adjusted EBITDA   $ 32,681    $ 31,298   Segment Revenue  $  193,681  $  193,092  Operating Income Margin (GAAP)  12.9%  12.3%  Adjusted EBITDA Margin  16.9%  16.2%   Three Months Ended March 31,   20 
 
 Non-GAAP Financial Measures  Color Group   2025    2024   Operating Income (GAAP)  $ 34,852  $ 31,679  Depreciation and amortization  5,936  5,440  Share-based compensation expense   69    -   Adjusted EBITDA   $ 40,857    $ 37,119   Segment Revenue  $  167,750  $  160,025  Operating Income Margin (GAAP)  20.8%  19.8%  Adjusted EBITDA Margin  24.4%  23.2%   Three Months Ended March 31,   20 
 
 Non-GAAP Financial Measures  Asia Pacific Group   2025    2024   Operating Income (GAAP)  $ 9,442  $ 8,776  Depreciation and amortization  548  636  Share-based compensation expense   22    -   Adjusted EBITDA   $ 10,012    $ 9,412   Segment Revenue  $  41,901  $  40,306  Operating Income Margin (GAAP)  22.5%  21.8%  Adjusted EBITDA Margin  23.9%  23.4%   Three Months Ended March 31,   20 
 
 Non-GAAP Financial Measures   2025    2024    % Change   Operating Income (GAAP)  $ 53,530  $ 49,406  8.3%  Depreciation and amortization  15,074  14,709  Share-based compensation expense  2,900  1,995  Portfolio Optimization Plan costs, before tax   2,864    2,812   Adjusted EBITDA   $ 74,368    $ 68,922   7.9%  Total Revenue  $ 392,325  $ 384,670  Operating Income Margin (GAAP)  13.6%  12.8%  Adjusted EBITDA Margin  19.0%  17.9%  Three Months Ended March 31,  20 
 
 Non-GAAP Financial Measures   March 31,   20  Debt   2025    2024   Short-term borrowings  $ 18,575  $ 19,439  Long-term debt  683,266  643,511  Credit Agreement adjustments(1)   (21,165)   (13,775)  Net Debt   $ 680,676   $ 649,175  Operating income (GAAP)  $ 195,703  $ 153,591  Depreciation and amortization  60,694  58,379  Share-based compensation expense  10,989  8,661  Portfolio Optimization Plan costs, before tax  6,683  30,653  Other non-operating gains(2)   (871)   (1,055)  Credit Adjusted EBITDA   $ 273,198   $ 250,229  Net Debt to Credit Adjusted EBITDA  2.5x  2.6x  (1) Adjustments include cash and cash equivalents, as described in the Company's Third Amended and Restated Credit Agreement (Credit Agreement), and certain letters of credit and hedge contracts.  (2) Adjustments consist of certain financing transaction costs, certain non-financing interest items, and gains and losses related to certain non-cash, non-operating, and/or non-recurring items as described in the Credit Agreement.