International Flavors & Fragrances falls after downbeat annual forecasts

International Flavors & Fragrances

19/02/2025 12:43

** Shares of food ingredients maker International Flavors &
Fragrances  IFF.N  down ~4% at $83.05 premarket
    ** Company, after market close on Tuesday, forecast 2025
annual sales of between $10.6 billion and $10.9 billion,
compared with estimate of $11.16 billion - data compiled by LSEG
    ** The downbeat outlook also comes below 2024 net sales of
$11.48 billion, which was flat in growth compared to the
previous year, hurt by negative impacts of foreign exchange
rates
    ** IFF also sees annual adjusted operating EBITDA in the
range of $2 billion to $2.15 billion, vs estimate of $2.2
billion
    ** However, Q4 net sales rose 3% to $2.77 billion, compared
with estimate of $2.68 billion, and adjusted EPS of 97 cents vs.
expectations of 81 cents
    ** IFF rose 4% in 2024

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))