Says: “While we had previously indicated that excess cash would be used in 2025 to buy back stock, we now feel as a result of the accelerated natural color conversion activity and regulatory timelines… it is more prudent to increase capex for the year and defer any buyback program to a later date.” Raises CAPEX view to $80M-$90M from $70M-$80M. Comments taken from Q1 earnings conference call.
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