Financial Performance - Q3 2024 reported net sales were $2.93 billion, a 4% increase YoY, with currency-neutral sales up 9% YoY[3] - Q3 2024 adjusted operating EBITDA was $568 million, a 16% increase YoY on a comparable basis[3] - Q3 2024 adjusted EPS excluding amortization was $1.04, a 17% increase YoY[3] - Q3 2024 cash flows from operations were $702 million, with free cash flow of $399 million[4] - Net sales for Q3 2024 increased by 4% to $2.925 billion compared to $2.820 billion in Q3 2023[31] - Gross profit for Q3 2024 rose by 14% to $1.052 billion from $924 million in Q3 2023[31] - Operating profit for Q3 2024 surged by 66% to $249 million from $150 million in Q3 2023[31] - Net income attributable to IFF shareholders for Q3 2024 jumped by 136% to $59 million from $25 million in Q3 2023[31] - Free cash flow for the nine months ended September 30, 2024, was $702 million, compared to $795 million in the same period in 2023[35] - Net sales for the third quarter of 2024 were $2.925 billion, compared to $2.820 billion in the same period of 2023, reflecting a 3.7% increase[37] - Consolidated adjusted operating EBITDA margin improved to 19.4% in Q3 2024, up from 17.9% in Q3 2023[37] - Adjusted (Non-GAAP) net income for Q3 2024 was $158 million, compared to $96 million in Q3 2023, a 64.6% increase[43] - Adjusted (Non-GAAP) EPS for Q3 2024 was $0.62, up from $0.38 in Q3 2023[43] - Reported (GAAP) gross profit for Q3 2024 was $1.052 billion, unchanged from the adjusted (Non-GAAP) figure[39] - Year-to-date reported (GAAP) gross profit for 2024 was $3.144 billion, compared to $2.821 billion in 2023[50] - Adjusted (Non-GAAP) net income excluding amortization for Q3 2024 was $268 million, compared to $227 million in Q3 2023[44] - Net income attributable to IFF for Q3 2024 was $289 million, with a diluted EPS of $1.13[54] - Adjusted (Non-GAAP) net income for Q3 2024 was $503 million, with a diluted EPS of $1.96[54] - Adjusted (Non-GAAP) net income excluding amortization for Q3 2024 was $855 million, with a diluted EPS of $3.34[55] - Total net sales for Q3 2024 were $2.925 billion, compared to $2.785 billion in Q3 2023[65] - Segment adjusted operating EBITDA for Q3 2024 was $568 million, up from $490 million in Q3 2023[65] - Q3 Consolidated sales grew by 4% reported, with a 12% increase in Adjusted Operating EBITDA and a 1.5% margin improvement[71] - YTD Consolidated sales decreased by 1% reported, but Adjusted Operating EBITDA increased by 14% with a 2.6% margin improvement[76] Segment Performance - Nourish segment reported Q3 sales of $1.49 billion, with currency-neutral sales up 7% YoY[6] - Health & Biosciences segment reported Q3 sales of $570 million, with currency-neutral sales up 12% YoY[7] - Scent segment reported Q3 sales of $613 million, with currency-neutral sales up 10% YoY[8] - Pharma Solutions segment reported Q3 sales of $256 million, with currency-neutral sales up 8% YoY[8] - Nourish segment sales increased to $1.486 billion in Q3 2024, up 2.6% from $1.449 billion in Q3 2023[37] - Health & Biosciences segment sales grew by 10.0% to $570 million in Q3 2024, compared to $518 million in Q3 2023[37] - Nourish segment sales for Q3 2024 were $1.486 billion, with a segment adjusted operating EBITDA margin of 13.9%[65] - Scent segment sales for Q3 2024 were $613 million, with a segment adjusted operating EBITDA margin of 20.7%[65] - Pharma Solutions segment sales for Q3 2024 were $256 million, with a segment adjusted operating EBITDA margin of 24.2%[65] - Q3 Nourish segment sales increased by 3% reported, with a 16% increase in Segment Adjusted Operating EBITDA and a 1.6% margin improvement[67] - Q3 Scent segment sales remained flat (0% reported), but Segment Adjusted Operating EBITDA decreased by 3% with a 0.6% margin decline[68] - Q3 Pharma Solutions segment sales grew by 8% reported, with a significant 32% increase in Segment Adjusted Operating EBITDA and a 4.5% margin improvement[69] - Q3 Health & Biosciences segment sales increased by 10% reported, with a 15% rise in Segment Adjusted Operating EBITDA and a 1.4% margin improvement[70] - YTD Nourish segment sales decreased by 4% reported, but Segment Adjusted Operating EBITDA increased by 15% with a 2.5% margin improvement[72] - YTD Scent segment sales grew by 3% reported, with a 19% increase in Segment Adjusted Operating EBITDA and a 3.2% margin improvement[73] - YTD Pharma Solutions segment sales decreased by 1% reported, with a 6% decline in Segment Adjusted Operating EBITDA and a 1.2% margin decrease[74] - YTD Health & Biosciences segment sales increased by 7% reported, with a 17% rise in Segment Adjusted Operating EBITDA and a 2.6% margin improvement[75] Financial Guidance - Full-year 2024 sales guidance increased to $11.3-$11.4 billion, with adjusted operating EBITDA expected at the high end of $2.1-$2.17 billion[9] - Volume growth for 2024 is expected to be 5-6%, up from the previous guidance of 3-5%[9] Debt and Leverage - Net debt to credit adjusted EBITDA is used as a leverage ratio in the company's credit agreements[26] - Total debt as of September 30, 2024, was $9.127 billion, with net debt of $8.558 billion after adjusting for cash and cash equivalents[62] - Credit adjusted EBITDA for the twelve months ended September 30, 2024, was $2.201 billion[61] Non-GAAP Adjustments - Adjusted operating EBITDA excludes depreciation, amortization, interest expense, and certain non-recurring items[24] - Currency neutral metrics are used to eliminate the effects of translating non-U.S. currencies to U.S. dollars[23] - Business divestiture costs for Q3 2024 were approximately $55 million, compared to $29 million in Q3 2023[47] Assets and Cash Position - The company's total assets as of September 30, 2024, were $29.928 billion, down from $30.978 billion at the end of 2023[33] - Cash, cash equivalents, and restricted cash at the end of Q3 2024 were $569 million, down from $662 million at the end of Q3 2023[35]

International Flavors & Fragrances Inc. (IFF) is scheduled to report third-quarter 2024 results on Nov. 5, after the closing bell.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for IFF’s revenues is pegged at $2.83 billion, indicating 0.5% growth from the year-ago figure.The consensus estimate for earnings is pegged at $1.06 per share. The consensus for IFF’s earnings has moved up 1.9% in the past 60 days. The estimate indicates year-over-year growth of ...

Wall Street analysts expect International Flavors (IFF) to post quarterly earnings of $1.06 per share in its upcoming report, which indicates a year-over-year increase of 19.1%. Revenues are expected to be $2.83 billion, up 0.5% from the year-ago quarter.Over the last 30 days, there has been an upward revision of 0.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this ...

International Flavors (IFF) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

The Zacks Consumer Products – Staples industry participants have been in good shape, benefiting from the consistent demand for essential products, as consumers continue to prioritize necessities even during challenging economic times. Efforts to drive revenue growth through innovation, new product launches and expansion into channels like e-commerce have been successful. Saving measures and restructuring efforts have helped companies in the industry manage rising cost pressures. These upsides have positione ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Whi ...

It has been about a month since the last earnings report for International Flavors (IFF) . Shares have added about 9.5% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is International Flavors due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. International Flavors Q2 ...

International Flavors & Fragrances Inc. (IFF) shares scaled a new 52-week high of $104.17 on Friday before closing the session lower at $103.99. IFF has a market capitalization of $26.6 billion. The company's shares have gained 52.6%, outperforming the industry's growth of 0.9% and the S&P 500 index's rise of 26.9%. Image Source: Zacks Investment Research What's Aiding International Flavors? Demand for Flavors & Fragrances to Drive IFF's Growth: The company is well-poised to benefit from demand for a variet ...

Did you analyze how International Flavors (IFF) fared in its international operations for the quarter ending June 2024? Given the widespread global presence of this ingredients producer for food, cosmetics and consumer products industries, scrutinizing the trends in international revenues becomes imperative to assess its financial strength and future growth possibilities. In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in s ...

International Flavors & Fragrances Inc. (NYSE:IFF) Q2 2024 Earnings Conference Call August 7, 2024 9:00 AM ET Company Participants Michael DeVeau - Senior Vice President, Corporate Finance and Investor Relations Erik Fyrwald - Chief Executive Officer Glenn Richter - Executive Vice President, Chief Financial and Business Transformation Officer Conference Call Participants Josh Spector - UBS Nicola Tang - BNP Paribas John Roberts - Mizuho Ghansham Panjabi - Baird Kristen Owen - Oppenheimer Patrick Cunningham ...