International Flavors & Fragrances tops quarterly results estimates on steady solutions demand

International Flavors & Fragrances

18/02/2025 22:07

Feb 18 (Reuters) - International Flavors & Fragrances
 IFF.N  beat Wall Street expectations for fourth-quarter sales
and profit on Tuesday, owing to steady demand for its solutions
supply, including fragrances and food flavors. 
    
       
  
    WHY IT'S IMPORTANT
    Packaged food companies and perfume makers have seen
consumers continue to buy their products, boosting demand for
solutions such as scents and flavors, which help companies that
provide raw materials to bigger manufacturers, such as IFF. 
     
    BY THE NUMBERS
    Sales in IFF's nourish segment, which is a major revenue
contributor that provides ingredients and flavor solutions for
food and beverage products, saw sales rise 1% in the reported
quarter.
    The company's quarterly net sales rose 3% to $2.77 billion,
compared with the analysts' average estimate of $2.68 billion,
according to data compiled by LSEG.
    IFF posted adjusted profit of 97 cents per share, compared
with the analysts' estimate of 81 cents. 
    The company expects annual sales to be in the range of $10.6
billion to $10.9 billion, compared to estimates of $11.16
billion.
    
    MARKET REACTION 
    Shares of the New York-based company, which had risen over
4% in 2024, were down marginally in after-market trading.  

 (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by
Alan Barona)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; X: https://twitter.com/AnanyaMariam))