Chr. Hansen Reports 3Q Results, Lowers Organic Growth Guidance for the Year; Shares Still Rich
Chr. Hansen reported third-quarter and nine-month results for fiscal 2019 with group sales growth of 8% (6% volume, 2% pricing) and 9% (6% volume, 3% pricing), respectively, slightly lower than our full-year estimates. The company also reduced fiscal 2019 organic revenue growth guidance for the group to 7%-8% from 9%-11%, owing to more challenging trading conditions in emerging markets (natural colors), negative growth of the food cultures and enzymes business in China, and continued underperfor...Chr. Hansen is a biosciences group based in Denmark. Co. develops and supplies natural ingredient solutions for the food, pharmaceutical, nutritional, and agricultural industries worldwide. Co. operates in three divisions: Cultures and Enzymes (develops, produces, and sells cultures, enzymes, and probiotics for the food and dairy industries); Health and Nutrition (develops products for the dietary supplement, over-the-counter pharmaceutical, infant formula, and animal feed industries); and Natural Colors (develops natural color solutions to the food industry, primarily for the beverage, dairy, confectionery, fruit preparation and ice cream, as well as functional blends for processed meats).
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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