Sensient Technologies Corporation (NYSE:SXT) Q1 2024 Earnings Conference Call April 26, 2024 9:30 AM ET

Company Participants

Stephen Rolfs - Senior Vice President and Chief Financial Officer
Paul Manning - Chairman, President and Chief Executive Officer

Conference Call Participants

Matthew Krueger - Baird
Nicola Tang - BNP Exane
David Green - Boldhaven
Joanne Lim - BNP Paribas Exane

Operator

Good morning. And welcome to the Sensient Technologies Corporation 2024 First Quarter Earnings Conference Call. [Operator Instructions]. Please also note today's event is being recorded.

I would now like to turn the conference over to Mr. Steve Rolfs. Please go ahead, sir.

Stephen Rolfs

Good morning. Welcome to Sensient's earnings call for the first quarter of 2024. I'm Steve Rolfs, Senior Vice President and Chief Financial Officer of Sensient Technologies Corporation. I'm joined today by Paul Manning, Sensient's Chairman, President and Chief Executive Officer. Earlier today, we have released our 2024 first quarter results. A copy of the release and our investor presentation is available on our website at sensient.com.

During our call today, we will reference certain non-GAAP financial measures, which remove the impact of currency movements, cost of the company's portfolio optimization plans, and other items as noted in the company's filings. We believe the removal of these items provides investors with additional information to evaluate the company's performance and improves the comparability of results between reporting periods. This also reflects how management reviews and evaluates the company's operations and performance.

Non-GAAP financial results should not be considered in isolation from, or as a substitute for financial information calculated in accordance with GAAP. A reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures is available in our press release. We encourage investors to review these reconciliations in connection with the comments we make today.

I would also like to remind everyone that, comments made during this call, including responses to your questions, may include forward-looking statements. Our actual results may differ materially from those that may be expressed or implied due to a wide range of factors, including those set forth in our SEC filings. We urge you to read Sensient's previous SEC filings, including our 10-K and our forthcoming 10-Q for a description of additional factors that could potentially impact our financial results. Please keep these factors in mind when you analyze our comments today.

Now we'll hear from Paul Manning.

Paul Manning

Thank you, Steve. Good morning and good afternoon. Our first quarter results came in as expected, and now with greater visibility on the year, we are raising our full year guidance to mid-single digit local currency revenue growth and mid-single digit local currency adjusted EBITDA growth.