Latest news with #PaulManning
Yahoo
5 days ago
- General
- Yahoo
Church reopens after anti-social behaviour 'reset'
A churchyard in a town centre has reopened after it was forced to close for a month because of anti-social behaviour. St John's the Baptist's Church in the centre of Glastonbury, Somerset, stopped all church-related activities, other than Sunday services and funerals, during May for a "reset". David Smith, churchwarden said it was a "horrible" decision to close but added: "The raised gravestones were being used as shop counters for open drug dealing - that obviously is unacceptable." The decision split opinions in the town but Avon and Somerset Police said the closure was "challenging", but a "necessary" step to protect safety. More news stories for Somerset Listen to the latest news for Somerset The church say they're working with Glastonbury Town Council, local businesses and the Police as the churchyard reopens. Mr Smith continued: "I believe the closure was the reset we needed and we've had good feedback from the public as we reopened." Paul Manning is a town councillor and runs a business just off the High Street and said anti-social behaviour in the town is a "barrier" to tourists. He said: "The businesses at the top end of the High Street suffer because of anti-social behaviour. We need to all work together to address this." It comes after the BBC reported in January that some Glastonbury shop workers said more work needed to be done to crack down on crime and anti-social behaviour. A police spokesperson previously told the BBC: "We have been working closely with representatives from the church and the local authority to combat anti-social behaviour in and around Glastonbury." Dandelion Chalice runs a business in Glastonbury and said it was a "huge shame" to close the churchyard. He said: "I felt it was upsetting to shut a Christian place of worship. "But I understand it as the churchyard was much more peaceful when it was closed. "You can't have people fighting next to families having picnics." Follow BBC Somerset on Facebook and X. Send your story ideas to us on email or via WhatsApp on 0800 313 4630. Churchyard closes due to anti-social behaviour Calls for more action on crime, despite crackdown
BBC News
5 days ago
- General
- BBC News
Glastonbury Church reopens after anti-social behaviour "reset"
A churchyard in a town centre has reopened after it was forced to close for a month because of anti-social John's the Baptist's Church in the centre of Glastonbury, Somerset, stopped all church-related activities, other than Sunday services and funerals, during May for a "reset".David Smith, churchwarden said it was a "horrible" decision to close but added: "The raised gravestones were being used as shop counters for open drug dealing - that obviously is unacceptable."The decision split opinions in the town but Avon and Somerset Police said the closure was "challenging", but a "necessary" step to protect safety. The church say they're working with Glastonbury Town Council, local businesses and the Police as the churchyard Smith continued: "I believe the closure was the reset we needed and we've had good feedback from the public as we reopened." Paul Manning is a town councillor and runs a business just off the High Street and said anti-social behaviour in the town is a "barrier" to said: "The businesses at the top end of the High Street suffer because of anti-social behaviour. We need to all work together to address this."It comes after the BBC reported in January that some Glastonbury shop workers said more work needed to be done to crack down on crime and anti-social behaviour.A police spokesperson previously told the BBC: "We have been working closely with representatives from the church and the local authority to combat anti-social behaviour in and around Glastonbury." Dandelion Chalice runs a business in Glastonbury and said it was a "huge shame" to close the said: "I felt it was upsetting to shut a Christian place of worship."But I understand it as the churchyard was much more peaceful when it was closed."You can't have people fighting next to families having picnics."
Business Wire
25-04-2025
- Business
- Business Wire
Sensient Technologies Corporation Reports Results for the Quarter Ended March 31, 2025
MILWAUKEE--(BUSINESS WIRE)--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. 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. 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. 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. 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 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 on or after April 29, 2025. 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. Sensient Technologies Corporation (In thousands) (Unaudited) 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 Expand Sensient Technologies Corporation (In thousands, except per share amounts) (Unaudited) 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 Expand Sensient Technologies Corporation (In thousands, except percentages and per share amounts) (Unaudited) 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. Expand Sensient Technologies Corporation (In thousands, except percentages) (Unaudited) 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 2.5x 2.6x (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. Expand Category: Earnings Source: Sensient Technologies Corporation
Yahoo
28-02-2025
- Business
- Yahoo
Institutional investors in Candel Therapeutics, Inc. (NASDAQ:CADL) see US$153m decrease in market cap last week, although long-term gains have benefitted them.
Institutions' substantial holdings in Candel Therapeutics implies that they have significant influence over the company's share price 53% of the business is held by the top 9 shareholders Insiders have been buying lately To get a sense of who is truly in control of Candel Therapeutics, Inc. (NASDAQ:CADL), it is important to understand the ownership structure of the business. And the group that holds the biggest piece of the pie are institutions with 45% ownership. Put another way, the group faces the maximum upside potential (or downside risk). Institutional investors was the group most impacted after the company's market cap fell to US$360m last week. However, the 362% one-year returns may have helped alleviate their overall losses. But they would probably be wary of future losses. Let's delve deeper into each type of owner of Candel Therapeutics, beginning with the chart below. View our latest analysis for Candel Therapeutics Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. As you can see, institutional investors have a fair amount of stake in Candel Therapeutics. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Candel Therapeutics, (below). Of course, keep in mind that there are other factors to consider, too. Our data indicates that hedge funds own 7.0% of Candel Therapeutics. That worth noting, since hedge funds are often quite active investors, who may try to influence management. Many want to see value creation (and a higher share price) in the short term or medium term. The company's largest shareholder is FMR LLC, with ownership of 15%. In comparison, the second and third largest shareholders hold about 7.0% and 6.6% of the stock. Paul Manning, who is the third-largest shareholder, also happens to hold the title of Chairman of the Board. In addition, we found that Paul-Peter Tak, the CEO has 0.6% of the shares allocated to their name. We did some more digging and found that 9 of the top shareholders account for roughly 53% of the register, implying that along with larger shareholders, there are a few smaller shareholders, thereby balancing out each others interests somewhat. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our information suggests that insiders maintain a significant holding in Candel Therapeutics, Inc.. Insiders have a US$38m stake in this US$360m business. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling. The general public-- including retail investors -- own 28% stake in the company, and hence can't easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies. It seems that Private Companies own 9.6%, of the Candel Therapeutics stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. It's always worth thinking about the different groups who own shares in a company. But to understand Candel Therapeutics better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 5 warning signs with Candel Therapeutics (at least 4 which make us uncomfortable) , and understanding them should be part of your investment process. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
